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TrackData is a company which has become renown for their high end trading tools. One tool which has made them quite famous is the AIQ Trading Expert Pro, a trading application which is revolutionary for a number of different reasons.

Many of these amazing features are related the analysis of patterns which can be found on charts. The CPR, or Chart Pattern Recognition module, is a tool which can locate patterns which are well known, and it can also showcase them on a chart automatically.

In addition to this, it will then alert users about the pattern being broken. Another thing that I like about this trading tool is that the module gives users the ability to construct trading systems which are dependent on certain patterns.

Back testing has become an important issue for many trading programs, and TrackData deals with this issue by allowing traders to perform back tests on specific patterns to figure out how effective they are. While some industry insiders have said that chart analysis has been more of an art than science, the goal of TrackData is to transform this phenomenon into an undeniable science.

The ability to locate and analyze charts is critically important, and most traders today recognize this phenomenon as being called technical analysis.

The information which has been written on chart analysis deals with predicting the various movements of stocks or other financial instruments, and there are a number of things that TrackData can help you locate. Some of these things include resistance and lines of support, and these are important issues that must always be considered.

Charting is very powerful, but at the same time, it is far from being simple. The ability to find patterns in charts requires one to be highly observant, and to make matters worse, experts will disagree when it comes to what a pattern may signify.

The Importance of Identifying Formations in Charts with TrackData

The thing that I like about TrackData is that it has modules which are allow you to locate both patterns which are being created, and patterns which have been completed. For every pattern, the lines for support and resistance may be showcased on the charts.

One the pattern is completed, the arrow will be drawn near the breakout point, and this will showcase the potentially direction movement for the price. Patterns which have been completed will be saved along with the other data which is historical. The arrow will be created near the breakout point, and this will allow the potential direction of the price to be determined.

The data which is stored can be very useful when it comes to back testing issues, and the patterns which are emerging can be useful for the process of forming. It is important for these to be updated on a regular basis, but these may not be stored in your computer. The patterns which are emerging can allow you to locate and prepare for trades in the future, and the important thing is that it can be done in a manner which is highly proactive.

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