Using the Technical Pattern Recognition Tool
Learn how to use the E*TRADE technical pattern recognition and education tool. This first-of-its-kind tool will automatically populate charts with technical patterns to help you spot developing price swings on a chart.
- Once you’ve logged on to your E*TRADE account, use the “Trading” tab dropdown menu and launch the OptionsHouse platform.
- On the platform under “Trading” select “Chart” from the dropdown choices and enter a symbol in the quote box.
- This brings up a chart for the symbol which you can modify by:
- Using different types of displays
- Adding a variety of studies or events
- Leveraging various drawing tools
- Turn the automated technical tool on or off by clicking the circular graph icon located above the chart.
- The chart will auto-populate with support and resistance lines. Four types of technical analysis patterns can be chosen to be displayed on the chart:
- With the “Education” button on, hover over the indicators to view a definition of the technical pattern.
- Click on each indicator to have it drawn on the chart to see why it was triggered and to identify future patterns.
Note: the time period for the chart needs to be one month or greater for the tool to be available.
With the E*TRADE technical pattern recognition and education tool, you can quickly and efficiently identify technical trends on a chart. You can also use the tool to learn different types of technical analysis and see how these patterns are identified.