New technology launched for chart traders

Tuesday 22nd December 2009

A new chart pattern recognition tool that monitors the markets, has just been launched by IG Markets. The technology can send an alert when emerging trends indicate potential dealing opportunities, reducing the time spent scrutinising and analysing charts.

"We are thrilled to be the first CFD provider in both Australia and New Zealand to offer this seamlessly integrated web-based chart pattern recognition tool. Our evidence suggests that CFD and Forex traders are particularly keen adopters of charting analysis, and this tool should be of great benefit to them. Autochartist is available to all IG Markets clients, free of charge, on our award-winning PureDeal platform," says IG Markets, Chief Executive Officer, Tamas Szabo

"One of the greatest features of the package is that it has a straightforward, user-friendly web interface and plain English instruction manual, making it easy for clients to recognise chart patterns and use them to guide their trading decisions, even if technical analysis is unfamiliar to them."

Autochartist offers a powerful range of functionality which traders can customise to fit their needs. Clients can create personalised searches to identify 16 different types of chart pattern, or four types of Fibonacci pattern. The technology can be used to scan indices, forex, shares, energies and metals.

With the help of Autochartist, clients can:

- Anticipate and react to the elements of trend, support and resistance patterns

- Use emerging patterns to take a proactive approach to dealing

- Identify the best pattern alerts using Quality Indicators

- Capitalise on indecision and confusion in the markets by interpreting non-trending patterns.

"IG Markets is committed to offering clients the very best trading tools to help them with their trading, consistently offering great value through market-leading software and quality pricing. We are thrilled to be able to launch this exciting new feature," Szabo said.

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