Guide Using Charts and ProCharts on eToro

Guide Using Charts and ProCharts on eToro


What is ProCharts?

ProCharts was created with manual traders in mind and is based on feedback we’ve received from our clients. After understanding what our traders need, we developed ProCharts from scratch, tailoring it to be efficient, intuitive and informative.

In its essence, ProCharts is a comparative tool for technical analysis. It enables traders to view several instruments at the same time, or the same instrument using various parameters (such as different timeframes), presenting a comprehensive picture for analysis.


What are the advantages of the new ProCharts?


This easy-to-use toolset was built from the ground up to fit the needs of traders. Firstly, since it was created from scratch, it works faster and better than our previous chart tool. Secondly, the functionality it presents is highly useful for traders. The most significant addition this toolset brings is the use of multicharts, meaning you can customize your chart display using a variety of layouts for presenting several charts at once.

It doesn’t end there… ProCharts enables you to customize the arrangement of your charts and save the layouts you create, so you could analyse the market according to your own preference. When you launch ProCharts, it will automatically display whichever financial instruments or users you have in your Watchlist. Additionally, if you choose to customize your charts, ProCharts will remember your preferences for your next use, so everything will be there just the way you left it.

How to use Charts and ProCharts

Each financial instrument has its own chart, which is a valuable tool for tracking and analysing its history and performance.

Please note, as per the industry standard, eToro charts only display the SELL rate. To determine the BUY rate you would need to add the spread to the prices on the chart.

Go to any assets page and click on Chart:
Guide Using Charts and ProCharts on eToro
The default view shows each financial instruments performance using candles. The colour of the candle indicates whether the value of the asset rose or fell over the course of the selected periodicity. Green indicates an increase in price. Red indicates a drop in price. The tips of the vertical lines (wicks) at the top and bottom of each candle represent the highest and lowest points that the asset reached during the specified time frame.
Guide Using Charts and ProCharts on eToro
In the top right hand corner of the chart, you will see two arrows:  Click on them to expand the chart and bring up the chart settings.

Here you can set the periodicity (time frame of the candles) you wish to analyse - the default is one day (1D).
Guide Using Charts and ProCharts on eToro
You can choose from dozens of tools or studies you may find useful for your analysis by clicking on the pen icon

If you click on the settings wheel, you can change the timezone. You also have the option to open our new ProCharts feature in a new tab, which allows you display multiple charts on one screen, save layouts and overlay technical analyses.
Guide Using Charts and ProCharts on eToro
You can also launch ProCharts from your Watchlist, either by clicking on the settings wheel and selecting it from the menu, or by clicking on a mini chart:
Guide Using Charts and ProCharts on eToro                      
The main feature of ProCharts is the new layout menu that enables you to view multiple charts simultaneously. Whether its 2 by 2 or 1 on top and 3 on the bottom, you can select any of the available layouts:
Guide Using Charts and ProCharts on eToro
Launching ProCharts from your personalized Watchlist will open a layout with your selection of markets or users. To change a chart, simply select it and search for another symbol or username. If you want to view the same market with different time frames, tick the One Symbol for All Charts box and the selected charts instrument will be assigned to all charts.
Guide Using Charts and ProCharts on eToro
No matter where you launched ProCharts from, you can always load the most recently used layout, including the symbols, investors, drawings or studies you had on your work space. If you want to save a specific layout so you can use it again, click on SAVE LAYOUT, name it, and it will be ready for you until you delete it.
Guide Using Charts and ProCharts on eToro
Once you have set up a layout, each chart behaves just like the standard chart, and you can use it as you like - change time frames, add technical analysis studies, or compare it to other markets or investors.
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