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As part of our continual improvement programme, we are pleased to bring you our new Pattern recogntion upgrade-avaliable via the CFD Marketmaker platform.
Powerful and simple to use you can analyse some of our most popular instruments including CFDs on major global indices, FX and our top twenty most traded equities.
This free, technical analysis tool is integrated within the CFD Marketmaker platform to assist you in identifying charting patterns.
Triangles? Wedges? Channels? Each pattern has a story to tell about the direction of an instrument price movement. Pinpoint and overlay our technical analysis patterns over our live charts. In addition scan for over 100 different candlestick formations.
A channel formation is bound by an upper and lower trend line. The upper trend line marks resistance and the lower trend line marks support. The channel is anticipated to continue until a trendline is broken. The direction of the break is expected to continue onwards.
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between.
The double top is a major reversal pattern that forms after an extended uptrend. As its name implies, the pattern is made up of two consecutive peaks that are roughly equal, with a moderate trough in-between.
A bullish reversal pattern marked by three troughs, with the middle trough (the head) being lower than the other troughs (the shoulders) When the trendline (the neckline) is broken the pattern is complete and a move higher anticipated.
A bearish reversal pattern marked by three peaks, with the middle peak (the head) being higher than the other peaks (the shoulders). When the trendline (the neckline) is broken the pattern is complete and a move lower anticipated.
This pattern is created by drawing trendlines along a price range that gets narrower over time because of lower tops and higher bottoms. Variations of a triangle include ascending and descending triangles. The triangle is anticipated to continue until a trendline is broken. The direction of the break is expected to continue onwards.
The triple bottom is a reversal pattern made up of three equal lows followed by a breakout above resistance. While this pattern can form over just a few months, it is usually a long-term pattern that covers many months.
The triple top is a reversal pattern made up of three equal highs followed by a break below support. In contrast to the triple bottom, triple tops usually form over a shorter time frame and typically range from 3 to 6 months. Generally speaking, bottoms take longer to form than tops.
A wedge is a pattern that begins wide at the bottom and contracts as prices move higher or lower and the trading range narrows. The wedge is anticipated to continue until a trendline is broken. The direction of the break is expected to continue onwards.
Some patterns are on their way to becoming trading opportunities, some are already there. Tag emerging patterns and receive alerts when they are complete and place an order directly from the chart when the moment is right.
The Pattern Recognition tool also allows you to back-test to see how previous patterns have performed in the past. This can be done across many different time frames and can help give you an idea of the success that a certain type of pattern may have had when looking at a particular instrument. However, please remember past performance is not an indicator of future performance.
Every pattern also has a one-to-five star rating based on a range of indicators. The star rating system is a means of assisting you to speed up the potential short-listing process by sorting the strength of the signals and matching popular technical analysis indicators with the direction of the breakout.