What is the Autochartist application?

Technical chart patterns are rooted in the theory of market psychology. They have been researched and analyzed since the 1930′s and are universally discussed in books on technical analysis. Autochartist is a service that automatically detects these technical chart patterns, and delivers them to end users in real time, together with sophisticated quality analysis.

How the Autochartist application works?
The Autochartist application is a Windows application, similar to Instant Messenger in the way the user interfaces with it. When closing the application, it stays resident in the icon tray with a popup appearing momentarily when a new pattern emerges.

Features of the application:

• Alerts – Non-intrusive alert signals are received when new patterns emerge, satisfying user search criteria.
• Customized search – User search preferences are specified in terms of symbols, data intervals, and pattern types.

5M on 60LWMA

Here i explain the 60 LWMA 5M scalping method:
The 60 LWMA breaks and retest the 60MA line, on the next candle confirmation of the direction we enter.
The SL is the last two candles that broke the line but no more than 20 pips, TP min is 30 pips or a clesr reserval candlestick sign. so we have a risk reward of 1 : 1,5
The reserval sign maybe the change of the color of the OSMA indicator, that depends on the strange with the time you will get the feeling when to leave the trade.

5M on 60LWMA

Daily Forex Predictions and Analysis

EUR/USD
It is more likely to go down to around 1.27 or may be 1.2650, and after that, it might have potentially to go up to around 1.28.
(Current Price: 1.28)

GBP/USD
It is more likely to go down to around 1.4730 or lower, and after that, it might have potentially to go up to around 1.48.
(Current Price: 1.4877)

Trade The MACD

The MACD, or the Moving Average Convergence Divergence, is probably the most popular technical indicator. Almost every trader has traded the MACD at the beginning of his trading career, and some even continue to use it later on. In this article we will describe the origins of the MACD, its calculation and the markets it functions well.

Basic Candlestick Patterns

While most technical analysts and stock chart-watchers utilize indicators to spot the next trade-worthy move, the shape of a chart's daily (or weekly, or hourly) bars can hold as much valuable information as any other tool.
The practice of looking at the placement of a stock's opening price, closing price, high trade for the day, and low trade for the day- or OHLC bars- is called candlestick analysis. It is believed the Japanese developed the technique, and named it based on the appearance of a chart's bars- they can frequently appear to be a candle with an extended wick, possibly at both ends.
Though there are dozens of meaningful shapes and patterns in candlestick analysis, a few basic ones will adequately get a trader started with the practice.

Doji

Ichimoku Scalping: Answers to your questions

Since I’m getting a lot of questions regarding the rules for my 15mn Scalping system, I thought another trade example (with chart) plus few comments might help to cover all the questions in detail, here it goes:

1. I’m using ProRealTime charting Package which is provided by my CFD Broker, although you can use it for Free by registering at ProRealTime.com, you will only get the DailTF with the Free Account. They also have paid subscription options too which will give you access to all other smaller timeframes
2. However, there is nothing that is special about this particular package, this all can be achieved with any other platform as long as the rules are followed properly
   
   

Ichimoku Kinko Hyo

Ichimoku Kinko Hyo Technical Indicator is predefined to characterize the market Trend, Support and Resistance Levels, and to generate signals of buying and selling. This indicator works best at weekly and daily charts.

When defining the dimension of parameters, four time intervals of different length are used. The values of individual lines composing this indicator are based on these intervals:

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  Tenkan-sen shows the average price value during the first time interval defined as the sum of maximum and minimum within this time, divided by two;
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  Kijun-sen shows the average price value during the second time interval;

Support and Resistance

 The concept of support and resistance is simple. Support can be thought of as a floor for the price while resistance can be thought of as the ceiling for the price. When the price breaks through a resistance, that level becomes the new support level. The reverse is true when the price breaks through a support level.
The best use of support and resistance is during trend trading. If the trend is up, you want to go long at support and take profit at resistance.

Technical Indicator

Technical analysis has long been used in traditional markets like the stock market. Technical analysis methods rely on price history in order to predict the future. There are numerous methods used in the predicting, but the bottom line is that they always rely on price movements of the past. Technical analysis takes a few different forms and many methods of use.
One method of technical analysis is the use of technical indicators. A technical indicator is a graphical representation of the price action that is usually displayed along the bottom of the screen. One famous example is a technical indicator called MACD. You can see an example of the MACD in use in the first forex trade tutorial.