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Market Scanner

The ability to recognize a potential trading opportunity is one of the most valuable skills you can acquire in forex trading. To do this you need to perform elaborate technical analysis. It can, however, take months or even years to pick up this skill.

It wouldn’t be Purple Trading if we couldn’t offer you a service that turns any technical analysis into a routine, just like reading the daily news, for instance. 

That’s why we offer Market Scanner to our clients for free.

What can Market Scanner do?

  • It identifies potential trading opportunities automatically
  • It helps traders assess risks
  • It turns you into a more experienced trader
 

How does Market Scanner achieve that?

Through analysing a large quantity of trading data and their subsequent processing in the form of chart formation in your MetaTrader terminal.

Through volatility analysis in the form of important statistical information related to traded instruments on the basis of which you may decide how to set stop-loss and take-profit properly.

Through the use of educational materials, available e.g. in the form of videos, Autochartist will teach you how to understand data projections which the Market Scanner uses, such as Fibonacci formulas.

Why choose Market Scanner?

A ton of reasons, in fact!


All-in-One

As we have already mentioned, there are a number of tools on the market that may substitute Market Scanner, but I guess we could say it in another way: a number of tools are actually necessary to substitute Market Scanner.
 

Risk assessment

Thanks to the Risk Calculator, you can set up the  level of funds that you’re willing to risk while trading. The Risk Calculator will even recommend what volume of trades to keep in order not to exceed the frame of pre-set risks.
 

Adjusted to your needs

To let Market Scanner upload all the available information into your trading platform would not be the best solution. That’s also the reason why Market Scanner offers the possibility to adjust the search criteria and filter the unwanted data exactly the way you need.
 

VIP care provided

Have you deposited more than € 1,000  to your account? If your answer is yes, Market Scanner has a special VIP function which allows you to filter your trading opportunities. It comes in the form of a roll-out list where you can choose the minimal probability value. Thus, if you want only formulas with a high success probability, such as 80+ % to be displayed – simply click on the 80 % option on the list and Market Scanner will take care of the rest. Be careful, though, this function only works in cases when your deposit of € 1,000 is divided into multiple trading accounts!
 

A great timesaver

The Market Scanner saves a ton of your time by analysing volumes of trading data, calculating trading opportunities on their basis and notifying you about them. This means you don’t have to follow numerous trading patterns on a daily basis. Nor do you need to spend months or even years to achieve the necessary skills to match the performance of the Market Scanner.
 

Works on Demo account, too

Would you like to try out the Market Scanner, but have not registered yet? The Market Scanner offers the possibility to test its functions on Demo accounts as well. The only difference as opposed to the standard account is in the delay of displayed functions, which makes 5 candles. Try out Market Scanner on your Demo account and you’ll see that it’s worth registering with us!

Market Scanner is, indeed, an arsenal of analytical tools

The following tools will assist you with technical analyses:
 

Fibonacci Sequences

You may have noticed Fibonacci sequences which can be viewed in form of a so-called golden ratio. You’ll notice them in a number of natural patterns – from the shape of shells, through plant seeds to galactic spirals. Thanks to the Market Scanner, you can use it for trading as well to determine the probability of support or resistance levels, helping you with an estimate of potential trading opportunities as a result.
 

Fibonacci Formula - ABCD

https://lh3.googleusercontent.com/kpbqUr5G7VYLbVd8_c6L5mGeGklmAHY9OcH3EvZFAn547140a5hENejiC9-JQVZWkKuJ6kI8f2qX6UYJkVo9iMZIRUCb3O8ixCuR3UVZECqqHJiuv_9NyV-IeJa4qG7ZbVeUIvM_


Fibonacci Formula - Butterfly

https://lh5.googleusercontent.com/2CMR1AfXhiffQcMqKgTnyrOGcpxCXvhCskCmYh2QZAU_2P6rNOvfUdqVjUiw10lCuIozo5ibmWFrd7rqQtsPa5r5cAYXk-U6ijGKr3kdKfm7o55yS8jOI9f8TlN29xJpDh6VaRt_


Fibonacci Formula - Gartley

https://lh4.googleusercontent.com/oHAYInqCpsRYblcWPa8Md1VtGm8ASpIa7W_KxTv0r3UJDxajLZFw5c4XGilxYX2Atnn5WeylzXDZCqLSWu1B0AKN-4ZtixeAjedPgtwwtPoqD0kz4WUB59fWj6pfTosNNWBudr6A

Chart Formations

This function shall make you a master of market psychology. The method of technical analysis, based on market psychology, uses the lines of support and resistance and price movements between them and draws chart formations that will help you identify potential trading opportunities. The fact that Market Scanner distinguishes 16 types of these formations proves that the scale of opportunities is indeed very wide!
 

Key Levels

If a situation occurs when the price level refuses to break through the horizontal support level or the resistance level, Market Scanner detects the so-called benchmark point. If this happens three times in a row, the key level is set. The level points out the fact that the market is still not prepared to break through a certain price level. On the basis of identification of the key level, the trader may e.g. set stop-loss or take-profit level and assess trading risks better.
 

Volatility Analysis

If you want to learn from the past and prepare for the future accordingly - pay attention! With this function, you’ll have the possibility to investigate the volatility of certain instruments in the past and even examine their potential future development in the form of a 24-hour prediction. That may come in handy for determining levels for stop-loss or take-profit, but also for the development of your own trading strategies and much more.
 

Quality Indicators

As none of the functions of the Market Scanner offer are truly fault free, they all comprise so-called quality indicators. On the basis of several characteristic features, these indicators should determine the total level of reliability of a particular function and display it in an understandable way. Quality indicators help evaluate the total reliability of tools based on certain characteristics while displaying it in a clear manner.
 

Quality Indicator for Triangle Chart Formation

pro trojúhlelníkovou (Triangle) formaci z grafu

Start using Market Scanner today!

Market Scanner is one of the tools and indicators we offer to our clients for free when they open a Real Account. 

Why do we do it? Simply because we want to create a strong community of well-educated and confident traders. If you wish to become a part of such community and get (not only) Market Scanner for free, here’s what you need to do:
 


Your capital is at risk.


How to install Market Scanner?

I have Windows:

  1. Turn on the Windows installer

  2. In the installation app, click on the “Next” button 

  3. After you agree with the licence terms, click on “Next” again 

  4. Choose the trading platform where you want to install Market Scanner 

  5. (if you don’t see Metatrader on the list of trading platforms, click “Add additional”)

  6. Click on “next” and then “install”

  7. When the installation is complete, click on the “Finish” button

  8. You can find Market Scanner in the navigation window of Metatrader under the folder “Expert advisors”

I have Mac:

  1. Open the terminal (cmd + space - type “Terminal”)
  2. ​Copy and insert the following instructions into the terminal and click on “Enter”
    1. ​If you have the OS 10.9 version or a newer one: “defaults write com.apple.finder AppleShowAllFiles -boolean true ; killall Finder”
    2. If you have the OS 10.8 version or an older one: “defaults write com.apple.finder AppleShowAllFiles TRUE ; killall Finder”
  3. Now you should be able to display hidden folders and files

  4.  Open “Macintosh HD” → “Users” → “Your username” → “Library” (right-click and select open in new tab) → “Application Support” → “com.purpletrading.mt4_147925360315375"→ “drive_c” → “Program Files” → “Purple Trading MT4” → “MQL4"

  5. Copy and insert the downloaded indicator into the file “MQL4”

  6. Restart MT4 – now everything should work

  7. You can find Market Scanner in the navigation window of Metatrader under the folder “Expert advisors”

Now we need to set up web requests in the following way:
  1. Click on “Tools” in the menu, in the upper part of the screen

  2. Click on “Options”

  3. Click on the card “Expert advisors”

  4. Click on the field next to “Allow WebRequests for the listed URL”

  5. Click twice on “Add new URL” and copy the following websites:

    1. http://direct.autochartist.com/aclite/jsp/DirectLogin.jsp
    2. https://direct.autochartist.com/aclite/jsp/DirectLogin.jsp
    3. https://mt4.autochartist.com/
    4. http://mt4.autochartist.com/
  6. Now you can go ahead and use Market Scanner on your MetaTrader!

Do not have an account with Purple Trading yet?


Your capital is at risk.
Mandatory disclaimer:
 
You confirm that at your own discretion and risk you will use any platforms, trading strategies, indicators, plugins, signals, Expert Advisors or any other trading products and everybody who is involved in the production, development and distribution of such products are free of any responsibility and will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of such systems/products/information.
This material is provided as a general marketing communication for information purposes only and does not constitute investment advice. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument.
The content of the analysis/research presented above does not constitute financial or investment advice. This analysis/research is produced by 3rd party – Autochartist limited, registration No: 304691, 5 Andrea Patsalides Street, Office 303, Engomi 2408 Nicosia, CYPRUS,  which is an automated financial market analysis service. This service is subject to this privacy policydisclaimers and terms and conditions.
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