Anyone advise a p&f software

Doctor Leo

Active member
107 6
Hello everyone,

I'm in strong need for a good realtime charting soft with capabilities of drawing point and figure charts. The pecularity is that I trade FOREX and most software I've seen before specialize on stocks and indices, so they cannot process forex data correctly. Any suggestions please? Thanks
 

Rognvald

Established member
916 15
I believe you may find that Updata's TA will fit the bill although you may have to make an arragement for an additional compatible appropriate feed for forex, depending on what you wish to trade. This package has a very wide range of abilities in addition to pnf.

PFScan is a specialist pnf pattern scanning tool and more but I don't know about its forex capabilities.

Look at
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=8886

http://www.updata.co.uk/ta/

and

http://www.pfscan.com/

I believe that these two are the only packages available using the correct methods for pnf.
 

Volatile

Member
58 0
I use Updata TA and also trade FOREX - in the past using P&F although not at the moment.

do recommend it if you need the P&F, and FOREX prices will come with whatever package you get - I have the standard LSE realtime and get live FOREX prices from it.

It copes fine with the very small box sizes needed for FOREX - although you may need to set the box sizes manually as it tends to go slightly too large imo by default.
 

Mayfly

Established member
514 28
I agree entirely with the other comments here: Updata’s TA is the definite software for P&F charting, IMO; and bear in mind that it does a lot more than P&F charting. :cool:

HTH

Cheers

Mayfly
 

zambuck

Experienced member
1,608 102
Also look beyond Updata, as with Updata you will have to pay monthly payment that includes software update, support and data....

You cannot have any other option...say if you wanted software only, then that will not be possible as if you stop paying then you will not qualify for support...and after you stop paying you cannot access their site even if you are using their software...

You must pay monthly charge to get access to their site and to get support...
 

Daniel

Junior member
46 0
CMS' Virtual Trader has good realtime p&f charting for fx - and its free!

If you don't mind me asking, can you give an idea of how you use it for currency trading?
 

Rognvald

Established member
916 15
Doctor Leo

CMS package is "free" as they are a brokerage service. You may not wish to tie yourself into their terms, conditions and margin requirements.

I could not see from their site whether the pnf is as it should be - regrettably many are not.

I cannot be absolutely positive but It is unlikely that you will find any software that deals with all aspects of pnf as well as Updata's. You now have confirmation that their LSE feed gives live forex (volatile).

Yes it is the case that you only have updata as long as you pay their subscription but this is now a common pricing model.

There is no such thing as a free lunch - think carefully before deciding which package you will use.

There is an advantage in a subscription scheme - you can stop before you have spent too much money on software you dont want (I am into my fourth package so far!)

Best wishes
 

Mayfly

Established member
514 28
This is FREE and really quite good, if you want the “big” picture. Even so, I’d suggest that you try Updata Technical Analyst which is FREE to trial for thirty days (I think?); but you’ll have to pay to subscribe after thirty days – either on an EOD or RT basis – but, you’ll receive FREE real time FOREX data via their LSE feed, if you subscribe to their RT package. You’ll have to check with Updata about the other RT feeds that they support, if you feel that that’s what you want.

The choice is yours. :)

HTH

Cheers

Mayfly
 

Daniel

Junior member
46 0
I've got Updata EOD and CMS and can't see much difference between the two. You can run the CMS demo indefinitely so it seems a no-brainer to me.

If there's something I'm missing as to why the CMS p&f charts shouldn't be relied upon, could someone explain it to me?

Thanks
 

Mayfly

Established member
514 28
Why don’t you post a link to the CMS demo - I really can’t see how can you expect us to consider the answer(s) to your questions otherwise?

Mayfly
 

Mayfly

Established member
514 28
Thanks, MX.

What can I say, except that besides EOD, CMS seems to be able to produce Arithmetic P&F charts based on closing prices in the following timeframes: 1min through 4hours.

Looking through the charts – albeit briefly - it seems to me that you have to accept the program’s default values or settings in terms of: no of data items loaded, the box size, and a reversal size of three. In other words, I couldn’t see anywhere the software allowed the user to define any settings of his or her own.

No price objectives are given by the software.

Not much help really, but there it is - but, it's FREE?

Cheers

Mayfly
 

Doctor Leo

Active member
107 6
UKDan87 said:
CMS' Virtual Trader has good realtime p&f charting for fx - and its free!

If you don't mind me asking, can you give an idea of how you use it for currency trading?

Well I had a look at Visual Trader and cannot say I'm satisfied with its ability of pnf charting. My tactic assumes live update of the chart with every new tick and I saw some lag with updating the chart. As I can guess they re-build the chart using Close values of given timeframe and it's also gives an incorrect representation. Moreover it's most inconvenient to look at the pnf chart without a grid especially when crosses are not square, so you cannot easily draw sup/res. As to my trading style I'm somewhat between scalper and daytrader, I can wait quite long until I see a definite pnf pattern and then I go into market only when I'm sure about the direction of the current movement. My average profit is just 20-40 pips per deal but it's enough for me. Suppose I'll have a look at Updata although it's not easy to pay their monthly fee from the country I live in! :( I downloaded Investor/RT package and I'm really impressed with its ability of pnf charting but as it's a demo version I cannot even try to link it to my datafeed, so I'm puzzeled if I purchase the package or not. :rolleyes:
 

oatman

Senior member
2,879 22
You might be able to get hold of an old Indexia somewhere. Indexia P&F was considered the best. It runs in Dos. Accepts any DDE feed.The developer joined Updata. The programme is no longer supported though.
http://www.indexia.com/
 
 
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