Alternatives to Metastock?

[Sir Burr]

Thanks SB,

I've just installed Amibroker so here begins the journey...

Hi Chorlton,

Good luck!

Even coming from Metastock, it's not really as simple as jumping in, start clicking away to learn it.

I'd say the best start is to spend some time to read the manual cover to cover also looking through these tutorials

Cheers SB

 

[Chorlton]

Hi SB,

Thanks for the links.

I wonder if you can answer one quick question about configuring Amibroker with my current MS data, which comes from JustData.

Currently, my data is stored in the following folders/directories:

MyDatabases - Metastock -
ASX - 0
ASX - 1
ASX - A
ASX - B
ASX - C, etc, etc
LSE - 0
LSE - 1
LSE - A
LSE - B, etc, etc
World Indices


As a result, when it comes to creating the equivalent databases in Amibroker, how would you recommend I create them?

Would I need a different Database for:
1. each current folder,
2. 1 for all the ASX data, 1 for all the LSE data, etc
3. 1 database which captures ALL my data?


Just interested in your thoughts.....

Many Thanks.....

 

[Sir Burr]

Chorlton,

This is the first thing that is weird when coming from MS. ie: looking at that symbol tree!

In the Symbol tree ALL is every stock in your database and you can have them show up in Markets or Groups or a Watchlist. Go to the Menu, Sybmol, Organise Assignments to do this.

I have a very basic setup (single exchange) so haven't gone far with this side of it but think you could suck everything into a one database and then sort them (ASX, LSE) into 2 different groups. Not 100% sure as I think that would be painful to sort them unless there was an identifier between the ASX and LSE stocks?

I'd prefer in a single database so you wouldn't have to change between them.

The Indices you can select them and go to Menu, Symbol, Information and change "Is Index" to Yes. These will show up at the bottom of the Symbol tree under Indexes.

SB

 

[Chorlton]

Chorlton,

This is the first thing that is weird when coming from MS. ie: looking at that symbol tree!

In the Symbol tree ALL is every stock in your database and you can have them show up in Markets or Groups or a Watchlist. Go to the Menu, Sybmol, Organise Assignments to do this.

I have a very basic setup (single exchange) so haven't gone far with this side of it but think you could suck everything into a one database and then sort them (ASX, LSE) into 2 different groups. Not 100% sure as I think that would be painful to sort them unless there was an identifier between the ASX and LSE stocks?

I'd prefer in a single database so you wouldn't have to change between them.

The Indices you can select them and go to Menu, Symbol, Information and change "Is Index" to Yes. These will show up at the bottom of the Symbol tree under Indexes.

SB

Hi SB,

Been playing around with Amibroker this afternoon. I haven't been doing anything special, just getting a "feel" for the charting tools. There's a lot here!!! I'm surprised at its content considering the purchase price...

So far, one function that has pleasantly surprised me was the "Bar Replay" function. A Nice touch....

 

[Sir Burr]

Hey Chorlton,

Yep, that "Bar Replay" is beaut for checking system signals.

Plenty of other goodies in there too - enjoy! You won't look back, I'm sure.

Cheers SB

 

[damorgs]

Hi SB,

Been playing around with Amibroker this afternoon. I haven't been doing anything special, just getting a "feel" for the charting tools. There's a lot here!!! I'm surprised at its content considering the purchase price...

So far, one function that has pleasantly surprised me was the "Bar Replay" function. A Nice touch....

I was checking out amibroker too, is it all it's cracked up to be? Is there a free trial available anywhere? I'm currently using Incredible Charts, which is aussie made and a very comprehensive program imo.

Darren.

 

[Chorlton]

I was checking out amibroker too, is it all it's cracked up to be? Is there a free trial available anywhere? I'm currently using Incredible Charts, which is aussie made and a very comprehensive program imo.

Darren.

Just download it from their website..........

 

[Chorlton]

I have a very basic setup (single exchange) so haven't gone far with this side of it but think you could suck everything into a one database and then sort them (ASX, LSE) into 2 different groups.
SB

Hi SB,

Are you dealing with the ASX exchange and if so, have you seperated the ASX200 from the entire list of companies within the ASX.

If you have, did you do this manually??


Thanks...

 

[austek]

Not sure that what I have to say helps. But I get data from Paritech and had a similar annoying problem.
MS frequently closed down with MSWIN errors normally caused by -
(a) a tilde ~ appeared on A or B data (had to be removed often)
(b) corrupt layouts or fav lists
(c) downloading of data while MS was open

Was led to believe an update from 7.2 vers to 10.1 would fix it.
Not so. Still get the problem but feel I have full control over it now.
Just swear a bit, curse paritech and find the fault a,b or c

Metastock charting programme has been too good to me, to contemplate giving it away. As clumsy as I am with Computers.

austek

 

[Chorlton]

Not sure that what I have to say helps. But I get data from Paritech and had a similar annoying problem.
MS frequently closed down with MSWIN errors normally caused by -
(a) a tilde ~ appeared on A or B data (had to be removed often)
(b) corrupt layouts or fav lists
(c) downloading of data while MS was open

Was led to believe an update from 7.2 vers to 10.1 would fix it.
Not so. Still get the problem but feel I have full control over it now.
Just swear a bit, curse paritech and find the fault a,b or c

Metastock charting programme has been too good to me, to contemplate giving it away. As clumsy as I am with Computers.

austek

Austek,

Thanks for your comments.

In the end I decided to give up on MS as the frustration factor was too much and instead purchased AB.

Only been playing with it for a short-while but from what I've experienced with it so far, I'm definately glad I made the transition.

All the best,

Chorlton

 

[lbradman]

Metastock is crap for backtesting. I would never use it to backtest a system and generate trades to plug into TradeSim. The backtester in Metastock is an absolute JOKE! I only use Metastock purely for the charting these days. The only backtesting software I use these days is Wealth-Lab.

This is a great product which is easy to learn once you get the hang of it and theres a huge worldwide community support for it. You can write up any trading system idea with a bit of effort in WealthLab whereas it would be impossible to do with Metastock. Because Metastock is woefully inferior in its Metastock language you cannot test every system there is. There are many dipbuying systems which you can test in WealthLab to get phenomenal returns which you will never be able to code up in Metastock. If you use Metastock you'll never know about these systems. I can also still use TradeSim to do my Monte Carlo analysis after backtesting with WealthLab because you can store the trades in an ascii file which gets imported into TradeSim.

I feel the Australian market has been too ill-informed about the merits of Metastock judging by the large user base here. This has to do with the many resellers in the country who are affiliated with their brand whereas last time I checked the only place you can buy WealthLab is from the net which is a shame since its been a great tool for me thus far to filter out the good systems from the ugly.

 

[nizar]

Metastock is crap for backtesting. I would never use it to backtest a system and generate trades to plug into TradeSim. The backtester in Metastock is an absolute JOKE! I only use Metastock purely for the charting these days. The only backtesting software I use these days is Wealth-Lab.

This is a great product which is easy to learn once you get the hang of it and theres a huge worldwide community support for it. You can write up any trading system idea with a bit of effort in WealthLab whereas it would be impossible to do with Metastock. Because Metastock is woefully inferior in its Metastock language you cannot test every system there is. There are many dipbuying systems which you can test in WealthLab to get phenomenal returns which you will never be able to code up in Metastock. If you use Metastock you'll never know about these systems. I can also still use TradeSim to do my Monte Carlo analysis after backtesting with WealthLab because you can store the trades in an ascii file which gets imported into TradeSim.

I feel the Australian market has been too ill-informed about the merits of Metastock judging by the large user base here. This has to do with the many resellers in the country who are affiliated with their brand whereas last time I checked the only place you can buy WealthLab is from the net which is a shame since its been a great tool for me thus far to filter out the good systems from the ugly.

Hi Ibradman,

I thought Wealth-Lab can already do monte carlo analysis on its own?

TradeSim isn't designed for intraday systems as it cannot handle the timestamp on periodicities less than daily.