Trade Signals from Autochartist coming in SaxoTraderGO Feb 2017
We are pleased to announce that integrated Trade Signals from Autochartist will be available free of charge in our SaxoTraderGO trading platform from early February.
Ideal for all types of traders, Trade Signals identifies both emerging and completed Support/Resistance, Chart and Fibonacci patterns across hundreds of instruments for trade inspiration or to reaffirm your own trade ideas and analysis. Trade Signals also helps you identify key entry levels and levels for stop losses and take profits.
From early February, Trade Signals will be available on:
50 major crosses including spot gold and silver
around 200 major US and European stocks
around 200 major US and European stocks
Trade Signals detects:
- Support and Resistance
Key levels of horizontal support and resistance, used by the majority of traders.
- Chart patterns
Ascending Triangle, Descending Triangle, Channel Up, Channel Down, Triangle, Falling Wedge, Rising Wedge, Head and Shoulders, Inverse Head and Shoulders, Triple Bottom, Triple Top, Double Bottom, Double Top, Flag, Pennant.
- Fibonacci patterns
3 Point Retracement, 3 Point Projection, ABCD, Gartley, Butterfly, 3 Drive, Head-and-Shoulders Butterfly.
For each signal, Trade Signals uses five indicators to measure the quality of chart patterns:
- Initial Trend
- Breakout strength
Quality indicators reflect the visual appearance of the pattern and how well defined the pattern is within these parameters. High-quality patterns are well proportioned and symmetrical, and the overall quality measure is the average of all these indicators expressed as a range from 0 to 10 (highest quality).
Note that Signal Quality is not an assessment of the efficacy or an indication of the possible profits or losses you can expect from the pattern.
Autochartist maintains extensive statistics around their signals summarised as a probability of success for each pattern. For each pattern type, the probability is evaluated over the past 180 days with respect to the specific instrument and the times of day they were identified.
Statistics are accessible directly through the Autochartist website and through a link in the platform.
Note: past performance is not indicative of future performance.
Established in 2004, Autochartist has firmly established itself as the leading chart pattern recognition provider with a community of more than 50,000 traders in over 80 countries and offering well over 400,000 trade signals each month.
Saxo offers unprecedented levels of integration of Autochartist trade signals into our SaxoTraderGO platform with:
- Powerful screening for identifying signals of interest
- Trade ticket integrated with trade signal details for convenient access to trading
- Trade signals on instruments in your own Watchlists
- Trade signals on stocks on the exchange selected in the Equity Overview
We believe Trade Signals is a very important tool for traders and it is our ambition to integrate and develop Autochartist and related features much further.
You can read more about this collaboration in our parent company Saxo Bank’s recent press release.
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