Receive automatic alerts when emerging and completed chart patterns such as triangles, wedges, tops and bottoms are identified. Autochartist also provides an automatically drawn forecast level based on accepted Chart Pattern theory.
Autochartist covers Forex, Equities, Futures, CFD and Spread Betting markets. Users are notified by audible and visual alerts when emerging and completed patterns are identified. The pre-drawn charts are easily understood as support and resistance levels are clearly illustrated. A truly versatile tool, Autochartist Chart Patterns allows newer traders to incorporate technical analysis into their trading plans, while still offering seasoned traders the powerful scanning functionality which saves them time and highlights trade opportunities that may otherwise be missed.
Emerging Chart Patterns
Completed Chart Patterns
Emerging vs. Complete Chart Patterns
Emerging chart patterns provide traders with early notice of potential trading opportunities. These patterns are fully formed and require price to break through either support or resistance in order to complete.
Once price has broken through the anticipated level of support or resistance, the emerging pattern becomes expired and a completed pattern is presented as a trading opportunity.
It happens that emerging patterns do not complete, which usually means that the price has not continued moving in the direction of support or resistance where the breakout for completion was expected. Should a new turning point form between the support and resistance levels before breaking out, the emerging pattern will expire.
Emerging chart patterns are not only useful to traders who want advance notice of where breakouts may occur, but swing traders also find emerging patterns to be great trading opportunities, especially where the range between support and resistance is wide enough.