If you’ve already read our Oanda review, you should know that it already offers plenty of trading platforms.
Among these, you can find the well-known MT4, but many are also interested in Autochartist.
Well, in this article we will be going over the Oanda AutoChartist plug-in for the MT4 platform, and will be discussing its features and how to install it.
Let’s get started.
Table of contents
How to Install the Oanda AutoChartist Plug-in for MT4
Firstly, before you can proceed you need to open an Oanda MT4 account, otherwise, you won’t be able to install the plug-in. So first create your Oanda account and then log into your sub-account and on the MT4 platform. Once you have done that, click on Custom Indicators, and select install autochartist which should start downloading the installer file.
If you get prompted to Allow DLL imports then click allow and then click Okay. Once you have done that if you click Save File in the window that appears, then click Run, this will carry on with the installation of the plug-in.
Once you have installed the Autochartist plug-in, you’ll notice the new installments in your Custom Indicators folder, which include the following:
Autochartist Chart Pattern
Autochartist Fibonacci Patterns
Autochartist Key Levels
Autochartist Market Reports
Autochartist Web Application
One particular installment is the AutoChartist Volatility, which can be very beneficial to many traders as it gives traders important statistical information about the specific instruments that they are trading.
Oanda Autochartist Technical Analysis Features
The Oanda Autochartist features a number of technical analysis features, which can help traders perform better and capture more profits. The technical analysis features include:
Scanning no-stop of the intraday market: You can continuously scan and analyze the intraday market in order to help you stay one step ahead of the forex and CFD market movement.
Automatic chart pattern quality indicators: Use this technical analysis feature to spot emerging and completed chart patterns like Head-and-Shoulders, Fibonacci Retracements and Butterfly patterns.
Volatility Analysis: The volatility analysis tool is there to assess risk when placing take profit or stop losses.
Execution of trades that happens directly inside the interface: Easily execute trades directly on the interface.
Performance statistics: Using this analysis tool can help you view a detailed disclosure of historical Autochartist performance through your Oanda account.
Oanda Autochartist – FAQs
What is Autochartist in Forex?
Autochartist is a software tool that was designed to identify specific chart patterns using technical indicators. It has the ability to return real-time trading data and brings opportunities to traders that are based on support and resistance levels. The Autochartist package is usually compatible with other platforms, but most people know it from the MT4 and MT5 platforms.
How accurate is an Autochartist?
Autochartist as a whole is actually considered to be one of the best intraday trading tools for automatic trading, which is why it has become popular amongst the trading community. This is mainly because a lot more traders are realizing how powerful automated trading is, and they are looking for the perfect package that can do everything.
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.
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