A sign of a good broker is one that offers a wide range of indicators and signals – typically designed to help traders spot their trade entry and exit points. The challenge, however, can be deciding which of these tools to use or, more accurately, which not to use. The key is to strike the right balance and keep your strategy focused.
One of the best ways to ensure long-term profitability is to take a higher-level view. Different brokers offer different grades of advanced analysis tools – clients of Tickmill are fortunate to be treated to some of the best in the market.
From the Acuity Trading Tool to Autochartist and the Advanced Trading Toolkit, Tickmill offers analytical tools that are ideal for intermediate and experienced traders looking to tip the scales in their favour. In the following article, AskTraders’ has selected the foremost analysis resources at Tickmill to bring your trading to the next level.
Table of contents
Acuity Trading Tool
The Acuity Trading Tool is a user-friendly piece of AI-backed software, which can be applied to a Tickmill MT4 or MT5 trading dashboard. It combines data from millions of news articles and technical analysis data sets and uses natural language processing to enhance your trading insight.
After crunching all that data, the Acuity Trading Tool offers a higher-level reading of market sentiment. This helps traders monitor and stay ahead of market developments. As the tool can be applied to any of the asset groups available on the platform, it offers support to traders of all markets.
Tickmill deserves credit for taking sentiment analysis to the level it does. The broker’s Acuity Trading Tool is multi-layered and offers much more than the sentiment tools available at other brokers, which largely draw on reporting whether clients are long or short.
As an example of the strength of this tool, the Sentiment Complex feature at Tickmill charts price and sentiment in tandem, allowing traders to gain a historical as well as a real-time feel for how sentiment is influencing price.
The Autochartist software package has built a loyal following in the trading community. Tickmill’s decision to offer it to both live and demo account clients means traders can tap into a service that saves time and provides incredible insight into which way the markets might be heading.
The default package includes a range of trading signals and alerts. They’re generated by Autochartist’s powerful models, which are able to pick out key resistance and support levels and charting patterns. It’s also set up to support volatility analysis and provides three reports each day, offering in-depth analysis of a popular market.
Those signals are a great starting point for any trader, but another key advantage of the system is how adaptable it is. More experienced traders can create customisable searches, so they get the information they want, but can filter out ‘noise’.
Advanced Trading Toolkit
Tickmill’s Advanced Trading Toolkit is indicative of the broker’s decision to bring a host of high-grade features into one user-friendly place. Features on offer here include Stealth Orders, Correlation Trader, Mini Terminal, Session Map, Alarm Manager, Correlation Matrix, Tick Chart Trader and Sentiment Trader.
One example of the way the package caters to advanced traders is the Excel-RTD tool. This is ideal for those looking for an easy way to build their own systematic models. It feeds real-time data into Excel, where traders can use simple formulae to upgrade and automate their trading decisions. It’s a great way to make the move into algo-based trading, as there’s no need for macros or programming.
The Benefits of Using Tickmill’s Advanced Resources
The beauty of the advanced tools at Tickmill is that they have been set up to suit all types of trading. They can be used across all asset groups and support a wide variety of strategies.
It’s possible to tap into one tool in particular and use it to get into the granular detail of one feature of a market or take a higher level view and use a blend of different packages.
We’ve picked three of our favourite advanced analysis tools but there are plenty more on offer. The blog-style Market Spotlight, for example, focuses on different markets and provides in-depth analysis of events that could lead to trading opportunities. The Tickmill Traders Club, Education Hub, and Signal Centre are also worth considering.
Despite the large array of powerful advanced tools on offer, the trading dashboard still has an uncluttered feel. The tools can be added or removed from charts with the click of a button and the Advanced Trading Tools product is downloaded as a complete package, which makes tapping into that resource easy to do.
All tools can be personalised so that they fit the market and strategy you are looking to trade and are available in a range of languages. Most of the tools are added to the suite of indicators available in the Expert Advisors area of the platform, and it takes seconds to bolt them onto your monitor and start trading with them.
Tickmill’s commitment to supporting experienced traders is clearly evident. Few other brokers offer a similar range of advanced tools and in-depth analysis features. This is an approach that is long-standing – for some time now, the platform has been regarded as one that can help traders advance to the next level of trading.
The supporting infrastructure also deserves a mention. The broker is regulated by Tier-1 financial authorities and offers super-fast trade execution times with an average deal time of 0.20 seconds. Tickmill’s spreads are as tight as 0.00 pips and it is available in more than 200 countries. All of this is made all the more accessible thanks to Tickmill’s Pro Account, which has an accommodating minimum account opening balance of just $100.
Whether you’re looking to fine-tune existing strategies or design and test a new one, the tools on offer at Tickmill make this broker an obvious choice.