Octa broker announces a new powerful AI tool within its OctaTrader platform

Mastering chart analysis requires learning to spot various patterns and predict where the market is headed. It is essential to determine if the pattern signals bullish or bearish momentum and whether it may lead to a reversal or continuation of the current trend.

Of course, learning every single pattern by heart takes a lot of time. What's more, quickly and efficiently recognizing patterns directly from the chart can place a significant cognitive burden on traders, regardless of experience. This is especially true about those engaging in fast-paced trading styles since it leads to facing multiple important decisions throughout every minute of trading sessions.

However tiresome and energy-consuming it may be to spot every single pattern every single time, this aspect of trading should not be ignored but rather approached with greater efficiency.

OctaTrader: bringing AI analytics to the table To improve pattern-based chart analytics and drive consistency in trading, OctaTrader, Octa broker's proprietary trading platform, released a new tool called 'AI pattern recognition'. It allows traders to expand the trading experience by tapping into the power of AI.

As its name suggests, the new tool scans a vast database of historical data to find the most relevant technical analysis patterns for a chosen instrument and time frame. To do that, it first automatically analyses current price dynamics and then uses machine learning algorithms to spot actionable trends.

As a result, OctaTrader users effortlessly gain access to an actionable analytical pattern for the asset of choice. In a couple of clicks, the pattern can be copied to the trading chart to apply the analytical insights to trades. AI Pattern Recognition currently covers all the tradable assets available on the OctaTrader platform and is easily customisable to fit the client's trading style.

Power in unity The new AI Pattern Recognition feature is embedded in the Octa app so that users can save time switching between different web resources and platforms when searching for relevant patterns. The tool can be used in synergy with another OctaTrader's signature feature, the analytics hub Space. The Space feed embedded in the Octa app provides expert-curated insights and educational articles that help traders assess market fluctuations and gain relevant financial knowledge. As such, Space offers human expertise, while AI Pattern Recognition brings deep machine knowledge to the table. The synergy of these two tools allows traders to spot relevant patterns—and then validate decisions by deep diving into the financial theory, if necessary.

According to the Octa broker, the AI Pattern Search tool will be further improved with new machine learning models for handling support and resistance levels and candlestick patterns. These incoming updates will extend the tool’s scope and add more flexibility to OctaTrader clients' routines. Following the latest trend of deeper penetration of AI in FinTech, OctaTrader now combines advanced machine learning and artificial intelligence capabilities with extensive expert intelligence. Using the new AI Pattern Recognition tool, OctaTrader clients can significantly ease the cognitive load of analysing the charts, making sessions more efficient and decision-making more informed.

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Disclaimer: Trading involves risks and may not be suitable for all investors. Use your expertise wisely and evaluate all associated risks before making an investment decision.

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References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)