What is a good charting system?

[rustic1]

I have not yet subscribed to a charting package, can anyone recommend one that has streaming continuously for the Dow, FTSE 100, Dax & Cac I use D4F but the charts are not that good.. Do these charts automatically draw the support & res lines and trendlines or do you have to do that yourself.

Thanks

Rustic

 

[ChartMan]

You need 2 bits generally. A charting package, and then a data feed. Plenty of choices around. A popular one is Sierra charts and MyTrack feed. No package will draw supp.res lines..... You have to do that yourself.

 

[lockstock]

Updata have an LSR button ( Least Square Regression) That identifies a trend if there is one, other than that- it's a skill you acquire over time. Not recommending Updata, it appears that all the software have their + & -'s. It is rapidly improving & will be the best one day- we all wait in anticipation.

LSR demonstrated below

 

[Simon]

I'm currently giving eSignal (www.esignal.com) a whirl - initial impressions are good.

A glance at the 'software' & 'datafeeds' boards, & the reviews section on this site should prove beneficial.

 

[Helenqu]

I liked e-signal too but the Sierra/ IB/Mytrack package is hard to beat in cost terms and cutting down costs is really important I think, so long as the quality is still there.

 

[rustic1]

On sierra charts do they support FTSE100 & European Markets?
Do they also cover the markets 24 hours a day?

Rustic

 

[ChartMan]

I said before, there's 2 parts. One is charting, the other is the data feed . The two are separate. You buy the charting package, then you chose your data feed supplier. In my experience, MyTrack is good for intraday, but definitely no good for accurate UK stocks EOD data. For that you need prestel.... You need to research both to find out what will be best for the type of trading you intend to do.

 

[rustic1]

Can I not use D4F for my data feed?

 

[fltbear]

rustic1

No you cannot use D4F for your data feed

 

[rustic1]

I thought data feed was the market prices & data changing eg watching the prices changing. Please can you explain what you mean by data feed.

Thanks

Rustic

 

[fltbear]

rustic1

You are quite right that, in this context, a data feed is simply the means by which your charting program receives prices.

When you open the D4F platform then the charting etc on that platform needs and receives data from a data feed provided by D4F.

What you cannot do is use a charting program other than D4F charting with their data. There is no way of 'plugging it in'.

HTH

 

[FTSEBOY]

Simon,
Re esiganl.com is that a data feed and charting service or is it just a charting service?
FTSEBOY

 

[rustic1]

Fitbear

Am I right in understanding that the data feed actually plugs into the charting system, if so what do you recommend? for the DOW, FTSE, DAX & CAC
You can tell I am new to this. Thanks for your help everyone.

Rustic

 

[Trader333]

FTSEBOY,

esignal are both a datafeed and charting package. You can use the charting options that esignal provide or you can use their datafeed to feed platforms such as Tradestation which is a different charting package. The data you get depends on which exchanges you decide to subscribe to.

Rustic1,

You are correct in that the datafeed plugs into the charting platform. esignal is a good package to start with but others also recommend Sierra charts with Mytrack. A lot is down to personal taste and individual needs.


Paul

 

[The Beyonder]

Hi Rustic,

I currently use eSignal, it's very comprehensive and reliable, has all the indicators etc but is a bit expensive, and as Trader says you subscribe to different 'exchanges' which are based on geographic lines. The US and European bourses are on different 'exchanges' which will cost you an extra $25pm on top of everything else.
As Helen says minimising costs is vital, particularly when starting out. I'm thinking of trying IQ charts (but they only update every minute!), certainly cheaper, but of course cost is not the only criteria. As always, check around.
There's also a whole section on software etc under the "Reviews" part, definitely worth a read.

Rgds

The B