How to use Autochartist on OANDA MT4 - Market Scanning Tool

What is Autochartist of OANDA?

AutoChartist is a convenient tool that can provide information such as transaction timing, target price, and forecast interval.

Use pictures and text to explain how to view and use AutoChartist.

The Autochartist can automatically detect the chart pattern, or automatically calculate the key price, Fibonacci, and other levels, and notify the trading opportunity, target price, and expected range. It is a convenient tool.

The exchange rate forms peaks (highs) and troughs (lows) and fluctuates in the form of a zigzag curve.

By grasping the past price trend patterns, we can predict the upper limit, lower limit, and price fluctuation range of the exchange rate to some extent.

The price that should be reached.

Fully automatic detection of time-consuming and labor-intensive work in the past

So far, investors need to study the chart pattern first, and judge for themselves which pattern the instant-changing chart fits.
By using Autochartist to automate these tasks, the time to analyze charts can be greatly reduced.

Massive currency pairs. 16 modes can be automatically distinguished instantly.

In addition, the tool is designed to automatically identify and analyze 16 chart modes in an instant, so it is easy for beginners to understand. The details of various graphs are explained in “How to read patterns “, so please confirm.

Detectable Chart Pattern – Low price area and high price area detected

As a well-known chart pattern in the low price zone, there is the head and shoulders bottom (reverse head and shoulders) pattern, but in the past (in the absence of Autochartist) it was necessary to draw a neckline on the chart to verify whether it conforms to the pattern, but If you use an Autochartist, you can automate these tasks and analyze the accuracy of each mode in the past.
Investors who use charts as investment judgment materials can minimize human error and greatly shorten analysis time.

Start using OANDA’s Autochartist

How to install Autochartist to OANDA MT4?

1. Go to the Autochartist’s dedicated page in the OANDA Official Website.
2. Click Start Download to start downloading.
3. Please click [Next] in order to complete the installation of the plug-in.
4. After installing the plug-in, please start the MT4 platform.
5. In the menu bar, click [Options]→[Tools]. In the pop-up window, click the [Professional Advisor] tab.
6. Check [Allow the use of DLL], uncheck [Confirm DLL call], and click [OK].
7. Open the grid analysis tool in the MT4 navigator.
8. Drag any one of the automatic expert indicators on the chart, and the automatic chart expert will be displayed on the interface.

Go to OANDA Official Website

6 advantages of using Autochartist through OANDA

1. Automatically detect trading opportunities.
   It can instantly identify 16 chart patterns, Fibonacci, and key price points (important chart key points), so when a trading opportunity appears, it can automatically detect and notify the user.
2. Quickly capture and start to detect the chart mode.
   Autochartist can detect when the chart mode starts to form, so you can ensure that you will not miss a trading opportunity.
3. You can receive an alert even when you are out.
   If you log in to your email address, you can set it to automatically receive the “summary report” e-mail extracted from the chart with trading opportunities, so you can grasp the transaction even when you are out. opportunity. It is sent three times a day on average.
4. OANDA has a variety of currency pairs, providing more trading opportunities than other traders.
   Although it will be difficult for customers to analyze the 73 currency pairs provided by OANDA by themselves, if you use an Autochartist, you can automatically detect all currency pairs, so compared with ordinary FX companies, OANDA provides many more investment opportunities.
5. The past accuracy rate is transparently disclosed, which is reassuring.
   In the Autochartist’s chart mode and key price judgment, there are various types from high accuracy to low accuracy. Autochartist transparently discloses the past accuracy of various chart modes, so it is easier to evaluate the potential value of each mode. You can use the Autochartist as one of the investment judgment materials.
6. OANDA unique function
   Although other companies are also providing Autochartist, OANDA also provides functions developed by the company itself. For details, please confirm OANDA’s unique functions.

It is reassuring to disclose past performance statistics.

There is also a chart mode with an accuracy rate of over 70%!

Transparently disclose past performance. Among the chart modes, there are good performances and poor performances, but among the 15 modes, more than 10 modes have an accuracy rate of 70% or more.

Open OANDA’s Account for free

OANDA’s unique new feature of “Favorites”

The “Our Most Favorable Trading Opportunities” tab is a feature jointly developed by OANDA and Auto Chartist and is only available to OANDA customers.

The average forecast accuracy rate of chart patterns generated by automatic chart experts so far can be filtered by setting conditions such as “60% or more, 65% or more, 70% or more, 75% or more, and 80% or more”, so that you can search instantly The currently valid chart mode is displayed.

Through this process, investors can easily grasp the accuracy of the current effective chart mode in the past, and can use this function more conveniently when making transaction judgments.

Go to OANDA’s Official Website

1: Trading Opportunity

is the main interface of automatic chart experts.

In this interface, you can confirm the trading opportunities, modes, and mode status of each currency, such as “forming” and “completed”.

In addition, the credibility of the former model is also displayed.

2: Volatility analysis

Price Range Forecast…Used to view the price range that is expected to change in different periods/time ranges.

Hourly changes…Provides an overview of the period of significant fluctuations (on this day) in the price fluctuations of a specific currency pair.

Daily changes…Indicates the days of the week that are expected to fluctuate significantly.

3: Performance statistics

The accuracy and overall statistics of the automatic chart experts in the last 6 months, specific symbols, time subtleties, pattern directionality, and detailed statistics that can confirm how the automatic chart experts operate

4: SMS and alert

When a trading opportunity is found, a market report will be sent automatically.

OANDA unique function: You can receive up to three notification emails per day.

If you want to subscribe, please click “Market Snapshot Mail”, enter your e-mail address, and select your preferred language and the time you want to receive the report.

5: Resources & Education

You can check manuals and product support materials.

You can also download and install the MT4 plug-in of Auto Chart Expert.

6: Search window

In the search window, you can display the search list set individually.

When logging in for the first time, the initial setting interface is displayed.

Regarding the existing search, you can edit it by clicking the pencil icon and delete it by clicking the “X” icon.

7: Mode interface

The price chart, key price, and mode displayed in this window will display the result of their selection in the result window (⑧).

In the case of the above figure, it is predicted that a pattern will be formed at 01:45 on June 12, and the price will fall to 1.2982 due to selling.

When a pattern is detected, a gray separator will appear.

Once formed, the expected target price will be displayed.

The red ▼ in the right frame is a sell mark.

For detailed information on each item, please refer to the “How to Check Graph Mode” on the “How to Check Graph Mode” page.

8: Price change window

The price change window records the credibility of current effective trading opportunities based on past performance, the recognized mode, currency pairs, and other details.

If you want to view the volatility information of this trading opportunity, please click the “Volatility Analysis” button.

Price Range Forecast

Regarding “price range forecast”, if you use 15-minute candles, 30-minute candles, 1-hour candles, 4-hour candles, and daily lines to confirm, you can confirm the extent of price fluctuations.

Calculated based on data from the past 6 months.

With reference to this price range, a certain range of targets can be set.

Hourly changes You

can check the period of significant fluctuations in the price fluctuations of a specific currency pair in the “Hourly Changes” interface.

You can choose whether to trade during a period of large fluctuations that are expected to be high-risk and high-returns, or during a period of small price fluctuations.

Daily changes

You an check the days of the week that are expected to fluctuate significantly in the “Daily Changes” interface.

9: Voice switch

When a new trading opportunity is found, the user will be notified with a “beep” sound.

Even if you continue to conduct other transactions, you can also use this voice notification to prevent missed new trading opportunities.

You can set to turn on and off voice notifications.

This component used by the automatic chart expert for voice notifications will choose to use HTML5 audio or the audio of the local browser, and Flash (if installed) when playing audio.

Also, please make sure that the sound of the computer and application you are using is set to “on”.

10: Search result filter

If the search result filter option is not displayed between the interface that draws the chart and the interface that lists trading opportunities, click the search result filter on the right side of the interface.

Through the search result screening program, you can choose the trading opportunity mode you like.

For example, to hide the Fibonacci pattern being formed, make sure that the corresponding check box is not checked.

The search results will be displayed or hidden in the results window in real-time according to whether the check box is checked.

11: Effective Trading Opportunities

“Effective Trading Opportunities” displays a list of chart patterns, key price points, etc. that are being formed, and trading opportunities that have set target prices.

Models are being formed or completed.

You can rearrange the items by clicking on each item.

12: Expired Trading Opportunities

In the “Expired Trading Opportunities” tab, the trading opportunities that have reached the target price or that have begun to form charts but have not been formed will be saved to the “Expired Trading Opportunities” tab.

By using this interface, you can confirm whether the forecasts made by automated chart experts in the past are accurate.

Start trading with OANDA’s Autochartist