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

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<