IG’s web platform gets more tech analysis enhancements

Maria Nikolova

The web trading platform now offers traders to make use of one of the most popular chart patterns in tech analysis: head and shoulders.

Online trading major IG Group Holdings plc (LON:IGG) keeps bolstering the technical analysis features of its new web trading platform.

As a part of the latest enhancements, under the drawing section on the chart, traders get an option to place a head and shoulders drawing. This pattern is one of the most popular in tech analysis. It indicates that the price of a given asset is about to move against the current trend.

The IG team has also added a new feature where a small dot will be created on the open position line to display when the position was created. This one is apparently for fans of precision, as well as for those who like to see a position in context.

Earlier this month, IG introduced another feature that will most likely be appreciated by fans of tech analysis. Thanks to it, traders are able to save settings on drawings by activating a special checkbox. This checkbox permits the subsequent drawings of that type to have the same settings. For Fibonacci drawings, the checkbox also saves the selected ratios.

IG has also added more keyboard shortcuts to its web platform. These include:

  • ESC to dismiss dialogs;
  • ESC to deselect positions/orders/drawings;
  • ENTER to execute the same action as the apply button on a dialog;
  • Up/Down/Left/Right arrows to move drawings (1 pixel at a time).

These add to the list of shortcuts to platform charts introduced in July.

Talking of tech analysis improvements, let’s mention that in May this year, the company responded to client requests by adding Fibonacci extensions to the new platform charts. Traders can access this feature from the drawing tools menu on the new charts.

And last month, the broker added Elliott Waves tool to the new platform charts. It can be found in the drawing menu at the top of the chart, or by right-clicking on a chart. Traders can then select five points on the chart to form the drawing.

Also, some improvements were made to the Fibonacci drawings and Ichimoku indicators on the charts. On Fibonacci drawings, the last click to place the drawing allows traders to select the length of the drawing on the chart (i.e., how far across the chart the levels are visible). On the Ichimoku indicator, traders were allowed to customise which levels are shown.

The next long-awaited step concerning the new platform should be the addition of new trading instruments, with options being widely anticipated by the broker’s clients, as indicated by IG Community forum comments.

Read this next

Digital Assets

Binance upgrades Bahrain license to offer full-suite of crypto services

The Central Bank of Bahrain (CBB) has granted Binance its Category 4 license as a fully-fledged crypto-asset service provider (CASP).

Digital Assets

BitMEX spot exchange hits $24 million in daily volume

The newly-launched spot market of crypto exchange BitMEX reported a record of $24 million in 24-hour trade activity on May 25.

Retail FX

Financial Commission certifies offering of trade copier 4X Solutions

The Financial Commission, an independent self-regulatory compliance specialist for the financial services industry, has certified the trading technology offered by trade copier 4X Solutions.

Industry News, Inside View

LIVE from Devexperts webinar for brokers on Fractional Trading

Finance Feeds is providing live coverage of the event that aims to help brokers discover fractional shares as a key tool for a successful brokerage business in today’s trading industry.

Industry News, Retail FX

ASIC celebrates retail ban on binary options as 68% of wholesale clients lose money

In the 13 months before the ban, between 74% and 77% of active retail clients lost money trading binary options. The product intervention order does not apply to wholesale clients.

Crypto Insider

Investing in crypto: how to stay away from weak players

The main reason behind the hacks of crypto exchanges is weak key management. For example, all 4 hacks that took place in 2021 were caused by the ability of hackers to obtain access to hot wallets. 

Retail FX

Vantage launches swap-free gold XAUUSD trades for all clients until end of July

“As the greenback continues to strengthen, we want to support traders who remain bullish on gold or seek short term trading opportunities amid the volatility”

Industry News

Broadridge launches ESG reporting solution ahead of European regulation SFDR

The Broadridge managed solution for EET adds to existing Broadridge services, including European PRIIPs Template, European MiFID Template, Solvency II Tripartite Template and many more across the European jurisdictions.

Industry News

iCapital to acquire embedded structured investment platform SIMON

SIMON’s platform, SPECTRUM, is a multi-dimensional allocation analysis and portfolio construction tool designed to evaluate how structured investments and/or annuities may fit into a portfolio. 

<