Looking for a charting software

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Fran8

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Hi I hope your trading is going well!!!

I’m currently looking for a charting software. I currently use Freestockcharts (I trade US stocks and ETF´s) and I think that they are very good since you can set the charts however you like, with the indicators (you can modify time frames) you like and the colors etc that you prefer. You can also have different charts with different indicators and time frames and is free which is very good.

I use bar chart with High, Low, Close and some indicators.

The problem that I have with freestockcharts is that you have to do all the screening yourself and you do not have any alerts and I do not have the time to be in front of the computer every second waiting for a signal.

I use a momentum screening using different time frames for Relative Strength and the typical fundamental screen of P/E and things like that, nothing complicated or anything like that and I do not mind delayed data.

I know that for the screening and for the technical alert I will have to do some programming and I do not have a clue on how to programmed but if is simple I’m willing to learn and give it a try.

Basically I’m looking for a charting software that is as cheap as possible, easy to programmed that can do a screening of basic technical analysis and basic fundamental and that I can set my alerts based on the indicators to trade stocks and ETF´s.

Please help
 
Fran8 said:
Hi I hope your trading is going well!!!

I’m currently looking for a charting software. I currently use Freestockcharts (I trade US stocks and ETF´s) and I think that they are very good since you can set the charts however you like, with the indicators (you can modify time frames) you like and the colors etc that you prefer. You can also have different charts with different indicators and time frames and is free which is very good.

I use bar chart with High, Low, Close and some indicators.

The problem that I have with freestockcharts is that you have to do all the screening yourself and you do not have any alerts and I do not have the time to be in front of the computer every second waiting for a signal.

I use a momentum screening using different time frames for Relative Strength and the typical fundamental screen of P/E and things like that, nothing complicated or anything like that and I do not mind delayed data.

I know that for the screening and for the technical alert I will have to do some programming and I do not have a clue on how to programmed but if is simple I’m willing to learn and give it a try.

Basically I’m looking for a charting software that is as cheap as possible, easy to programmed that can do a screening of basic technical analysis and basic fundamental and that I can set my alerts based on the indicators to trade stocks and ETF´s.

Please help
Click to expand...


Hi Fran8

Not sure if it will do absolutely everything you want but give proreatime.com a look, starts off as free with EOD data and various packages for RT.

Goog luck

Cheers
 
Last edited:
Fran8 said:
What about metastocks an esignal?
Click to expand...

Metastock is a little bit easier to handle (specially for not so complicated tasks and formulas), but Amibroker is by far more powerful and has surely a better cost/benefit ratio (I use both!)

Metastock is perhaps the technical anlysis/charting package with the most licenses sold worldwide because it has a long history and it's now in the market for more than 25 years. So you can find many samples for free searching the web. But I think they lose ground year by year to a far more innovative competition (like Amibroker) because they upgrade their product in very long cycles. Last version (Metastock v11) was launched summer 2009...

bye,
zentrader
 
In which sense you mean that Amibroker is more powerful, in charts, scanning or in what sense you mean
 
Fran8 said:
In which sense you mean that Amibroker is more powerful, in charts, scanning or in what sense you mean
Click to expand...

@Fran8,

charting and scanning/screening (in MS it's the module Explorer) are imho also strong implemented in Metastock. If that are your main objectives, Metastock may be a good choice.

But there are some parts Amibroker (and others) have surpassed Metastock in the last years:

1. the implemented formula language MSFL is relatively easy to learn but you achieve also relatively fast the limits. In this situation you have the possibility to extend the language with external DLLs. For this you must have good knowledge of the MDK (Metastock Developer Kit) and of a prof. programming language like C/C++, Delphi or PowerBasic etc. You can also extend the Amibroker language AFL with external DLLs, but you don't have to to do it in 99,9% of the cases, because this internal language is already very powerful...

2. the backtesting environment for the development of trading systems in Amibroker is complete incl. portfolio backtesting. In MS you have to buy additional tools (Tradesim etc.).

3. there's no prepared interface for automated trading in MS. In Amibroker there's a solution for Interactive Brokers and you could use this as "blue print" for developing other broker interfaces

Only my two cents...

zentrader
 
Hi Fran8

One of your criteria on your first post was something "as cheap as possible"
Both metastock and e-signal are at the top end of the pricing so by all means take a look but may be excessive regarding price. I exclude metastock because I run MAC, e-signal is the main "feed" supplier for a lot of other services so is considered one of the best online systems. In addition I know people who run Metastock and applying your own "criteria" and rules for searching for opportunities can be complicated. I also exclude AmiBroker as I run MAC but it looks reasonably priced, as is ProRealtime. I suggest you use a couple of demo accounts and see which suits you best. Plenty of training videos which are free to access on Prorealtime
 
Is very clear that people like a lot Amibroker and prorealtime. I will have a look at them since I will like to get the charting software by the end of the month.
 
Nothing to loose with demo accounts, I don't know for sure with ami broker but proreatime is a fully functioning demo, no cut down service or "please upgrade" for this option. All the features and listings are available on demo account, just no RT feed.

Best of luck and let us all know which you end up preferring!
 
Thanks a lot to everyone. I will try booth demos from Amibroker and Prorealtime and tell you guys how it goes
 
Fran8 said:
Thanks a lot to everyone. I will try booth demos from Amibroker and Prorealtime and tell you guys how it goes
Click to expand...

What did you choose to go with in the end?

I want Walk Forward Optimisation and Analysis as per Bob Pardo so will likely go Amibroker but would welcome your feedback.
 
Hi Fran8,

I'm sure You will find what You need in Vestracharts. Alerts, screening, scans, historical datas, logging positions on charts and a very user-frienly environment. Check it out.
 
Hello, I’m testing currently protrader2 platform. Their charts are very impressive. Tool bar is fully customizable: you can add to it any button you want. The same thing is with timeframes you can modify them whenever you like. A very useful tool is chart overlaying. I make trading analysis on different pairs at once that is why it’s very convenient for me to look after price action of many currency pairs at the same time. When I have not enough time for charts monitoring I use visual advisor and it opens a needed order for me or alerts me. Anyone has ever tried protrader2?
 
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