Automated Pattern Recognition and Technical Analysis

E*TRADE Securities1

01/03/19

 

How to Use the E*TRADE Technical Pattern Recognition Tool

This first-of-its-kind tool will automatically populate charts with technical patterns to help you spot developing price swings on a chart.

1.     Log on to your E*TRADE account and hover over the “Trading” tab and select Power E*TRADE from the dropdown choices to launch the platform.

2.     Under “Trading” select “Chart” from the dropdown choices and enter a stock ticker symbol or stock name in the quote box.

3.     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

4.     Turn the automated technical tool on or off by clicking the circular graph icon located above the chart.

Note: The time period for the chart needs to be one month or greater for the tool to be available.

5.     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:

  • Classic
  • Short-term
  • Indicators
  • Oscillators

6.     With the “Education” button on, hover over the indicators to view a definition of the technical pattern.

7.     Click on each indicator to have it drawn on the chart to see why it was triggered and to identify future patterns.

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.