Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.On 14 March 2023, OpenAI announced the release of their newest, smartest bot so far.
ChatGPT 4.0 is better than version 3.5 in a multitude of ways. However, even the 3.5 bot can be used to our advantage. What can the bot contribute to a trader whose focus is technical analysis?The bot proved useful in explaining and presenting information on a variety of tools and price action concepts.
When prompted, it can explain the calculations and the usage and interpretation of many of the common indicators that traders use, ranging from RSI to Bollinger bands.
It can also provide users with guides on how to begin to analyze the market using the principles of Elliot Wave Theory. While it can not coach advanced concepts by itself, it can be a useful assistant.One major limitation of ChatGPT is its lack of access to live data.Read more on ambcrypto.com