Software packages

[darth trader]

Hi there,

I've just recently received my copy of metastock to add to my ta tools (sharescope and omnitrader).

I thought that I'd post my thoughts on the differences between the packages and might get some feedback on others that I don't know about.


Sharescope - good basic ta tool with data feed, charting, indicators, portfolio management and cgt. Also News flow and fundamental data is included. An excellent entry package that might address the complete requirements of many investors.

OmniTrader - execellent graphics for trendlines, fibs and good range of indicators. I don't use its portfolio management and have built my own system around its consensus signals. An execellent tool for ta but the consensus signals are a little hyped (you gotta have some marketing). Uses metastock database as input so no need for multiple databases.

Metastock - a sound package with highly flexbile scripting tools for number crunching. This is where its strength lies - formulae, scanning, custom indicators testig and quantitative analysis. An excellent tool for ta that adds to the Omnitrader functions.

I would be interested in other peoples opinions and hearing about AIQ or updata too.

 

[troyresearch]

TA Software - AIQ

Hi Darth

I've had AIQ for about 6 months now and am still trying to work it out. The charting is great - couldn't be simpler + v powerful indicator library too.

However, try and learn anything out of a manual and the outcome is usually unreliable.

There is an intro video that comes with AIQ - hilarious - an hour or so of one of AIQ's head honchos telling us how this or that feature is "really good" without elaborating as to why.

I'm part of a small but growing hard core of AIQ 'newbies' who are trying to persuade the company to find an expert user to give the rest of us a masterclass.

So you or anyone else using this who's interested, get in touch.

Rgds

Troy

 

[darth trader]

troy,

thanks for your post.
Unfortunately I don't have AIQ so I can't offer any specific advice. However when I first started TA I found the book by Achelis (Technical Analysis from A-Z) to be very helpful.

There is a link to the online version on this site.

Regards,
Darth.

 

[troyresearch]

OmniTrader

Would be really interested to hear your views on OmniTrader - seems much more user friendly than AIQ. Main gripe with the latter is the seemingly impossible task of keeping data 'clean', together with lack of clarity on in-built expert screening (too many contradictory messages).

Hope you can expand.

Rgds

Troy

 

[darth trader]

I recently posted my thoughts on sharescope, omnitrader and metastock on this section of the board.

OmniTrader is a sound package although I would qualify that by saying that the user contributes at least 50% of the outcome.

I have been studying TA very intensively since the end of the summer and although I learnt a lot in a short space of time I'm only just beginning to pull it all together and be creative.

Alan Farley's book on Swing Trading is excellent but is a really hard read if you don't have a solid the background.

Pring has written a number of good books aimed at different levels and some specialist areas.
Nison's book on Candles is the most readable TA book I've found.

Best wishes