Autochartist is a platform that generates trading signals, delivers 1000+ actionable trade opportunities per month in financial markets in real-time. This tool is a market scanner and has the ability to provide statistically significant market movements and identify important price levels. So, we created one case study using the MT4 Autochartist plugin.
Autochartist accuracy is between 60% and 80%, but generally, trades have a low-profit factor. Based on a case study, in the last 18 months (1.1.2019 till 1. June 2020), accuracy was 65% for major forex pairs, and the profit factor was 1.01. Using the Autochartist MT4 plugin after 18 months of trading, the trading balance almost didn’t change.
Accuracy is not so important in trading.
If I buy 1 mini lot of EURUSD at 1.3, stop loss 1.295, and target 1.3025, I risk $50, and my target is $25.
I can trade 999 times, risking $50 and trying to achieve $25, accuracy can be 66%, but I will have a $0 profit in the end.
333 times I will lose $50 = -$16.650
666 times I will win $25 = +$16.650
Autochartist accuracy case study description
This study used major forex pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCAD, EURCHF, EURJPY, GBPJPY.
We made trades using 1 micro lot.
Tool: Autochartist MT4 plugin (our broker offers free tool).
We traded 1 hour and above (higher time frames) to avoid overtrading.
We traded only signals that had the probability of success at least 75%.
Autochartist performance statistics
To check Autochartist performance statistics in the Autochartist platform, go to the performance statistics tab, and select the asset you want to analyze based on pattern, key level, and key-level approaches. See details in the video below:
Autochartist com review
The Autochartist application ranks a 3.5 out of 5 ratings based on several trading forums and Google Play. Autochartist reviews show that this tool uses thousands of regular clients around the globe. This clearly shows that Autochartist is a well-known and regularly used price forecasting tool. Autochartist technology enables users to monitor thousands of Forex financial instruments and their patterns.
In the next chapters, we will see the basic platform review.
Autochartist chart patterns list is:
- Channels (up and down)
- Triangles (ascending, descending, and symmetrical)
- Double top and Double bottom
- Triple top and Triple bottom
- Head and Shoulders (plus inverse Head and Shoulders)
- Wedges (rising and falling – continuation and reversal)
- ABCD pattern
- Fibonacci retracements and extensions patterns
- Gartley (harmonic pattern)
- Butterfly (harmonic pattern)
Let us learn more about this tool:
Autochartist cost is:
Autochartist Monthly Subscription plan is $29.
Three Month Autochartist Access Once-Off payment plan is $87.
Autochartist Six Month Subscription Plan is $145.
Autochartist Binary Options Three Monthly Subscription is $30.
Traders can get free Autochartist MT4 plugins from their brokers. For example, Autochartist FXCM offers a free plugin for clients. You can use the free Autochartist MT4 plugin as a Hotforex client. As a Hotforex live client, you can use the free Autochartist MetaTrader plugin.
Clients of IC Markets had access to Autochartist’s automated technical analysis and content through the MT4, MT5, and cTrader platforms in 2017, but in 2021 Autochartist ICMarkets tool was removed.
How to use Autochartist on MT4?
To use Autochartist on MT4, please download the MT4 plugin, run the .exe file, and install. All steps can see below:
Please see the video explains how to use the Autochartist mt plugin:
There is one more nice tool.
Autochartist volatility analysis represents an optimization process for trading stop-loss and take-profit levels with the Autochartist volatility analysis tool. In the video below is the Autochartist volatility analysis explanation:
Autochartist binary options
Autochartist binary options tool can scan binary options assets and provide possible direction based on pattern and time. It is presented in the video below:
Autochartist binary options tool can be used for analysis. See video below:
However, this tool is no “Holy Grail” in trading, and traders can not achieve high expectation profits. But this tool is good for analysis and to “catch” interesting setups.