Charting software - recommendations?

[DionM]

It seems most here use Amibroker?

Looking at it it seems to offer a number of features. Basically I want something to help me with my portfolio analysis, and identify possible buys.

With the strength of the AUD it looks priced okay.

Only thing is, how do I get ASX prices etc into it? I presume you have to subscribe to a real time data stream separately or something?

I'm just a small trader, I might buy 1 or 2 interesting stocks a month, usually just small parcels. I have a reasonable amount of stocks already, and I just accumulate more as money becomes available.

 

[nizar]

I use MS/TradeSim.

I use the software exclusively for backtesting, and then to scan the market for candidates, and my own stocks for exits.

I only really use the "Explorer" and "Expert" functions in MS.

Amibroker looks the goods though, for example, its much better at optimisation than MS/TradeSim combo. And much cheaper of course.

But lack of (fully automated) monte carlo analysis and no seamless integration with TradeSim made my decision easy.

 

[tcoates]

Only thing is, how do I get ASX prices etc into it? I presume you have to subscribe to a real time data stream separately or something?

There is an import wizard and import ascii functions in the middle of the File menu. Also you can import metastock data.

Even if you have an odd format, when you use the import wizard function you can save the definition so that next time you use import ascii function it appears in the drop down list of the file open dialog.

Re scans - you have to write these yourself and can run through the Analysis menu options. But is otherwise simple to drag and drop indicators onto charts etc.

Tim

 

[GreatPig]

Take a look at this thread.

Cheers,
GP

 

[Gar]

I've always been happy with Incredible Charts, Its not the most advanced charting package but it does all that I have ever needed to be profitable and its free until you feel like registering

I'm more than happy to pay my $18 a month to these guys, they provide a great service and are very helpful

(and before you ask no i'm not affiliated with them in any way )

 

[Ufonaut]

Well, I'm only a newbie, but I'm more than happy with FCharts (at http://www.spacejock.com/FreechartsSE.html). The SE is free, but I liked it so much I upgraded to Pro.

It's a home-grown project by an Aussie, but he's done a really good job IMHO. He's very quick with fixes and new features, and it's got a loyal community following. I'm still exploring all the features (but sorry Nizar, I haven't found Monte-Carlo!), .

And no, I'm not affiliated in any way either.

 

[tcoates]

Hubb group also have free charting program. With the hubb program you have latest prices also.

Tim

PS. Think that egoli also have a free program you can download.

 

[tech/a]

Before asking what software do I want.
Ask what do I need.

What do you want from software.

(1) Look at charts
(2) Search for prospects
(3) Test systems.
(4) End of day or Intraday?
(5) Perform technical analysis.
(6) Chart Point and Figure.
(7) Include Montecarlo analysis.
(8) Be able to plot Elliot Wave.
(9) The list goes on.

Make a wishlist and go from there.

 

[tcoates]

Speaking from a software dev. perspective I find that most stock/charting related software is similar. They only differ in how you access/perform particular function. (Compare the Amibroker language with how you setup a scan with the Ezy software.)

That said, there are differences then when it comes to -

1. elliot wave (does the software do it, do I want it?)
2. point and figure charts
3. live data vs EOD

There are software reviews at:

http://www.yte.com.au/SoftwareReviews.asp

You would have to register, but at least you can then make an informed decision.

Tim

 

[rtrader]

Hope you dont mind me butting in - I developed Rogue Trader paper trader app.

I'm currently offering it Free to forum users in exchange for feedback.

It is a simple application aimed at beginners but may interest some readers.

See post
https://www.aussiestockforums.com/forums/showthread.php?t=8450


As for features -
Charts - Candlestock/Line/Point.
Technical Indicators - a dozen or so.
Price Histories - free.
Dividends - free and included on charts and in portfolio analysis.
Scanning - Gap/MACD/Marubozu/MA Cross/MinMax/Sequence/RSI.
Portfolios .
Position Analysis.
Easy To Use.
Email Support.
Prices Update Daily.
Online Training Videos available later.


Send me your wishlist.
RT

 

[shyguy]

Recommend charting software based on this...

I know i have sort of asked about this before but i am trying to get to the point here and then not ask again...

im happy to pay up to about $250 (to own) for software but the cheaper the better... i noticed incrediblecharts works out to about that much if you subscribe and you dont actually own it and yet amibroker is a one time fee...

its the charting that i am interested in along with customisable indicators etc... i am primarily a TA EOD trader...

are there any that are highly recommended and trusted? within that price range?

 

[titl4]

Re: Recommend charting software based on this...

.....................
im happy to pay up to about $250 (to own) for software but the cheaper the better... i noticed incrediblecharts works out to about that much if you subscribe and you dont actually own it and yet amibroker is a one time fee...

its the charting that i am interested in along with customisable indicators etc... i am primarily a TA EOD trader...

are there any that are highly recommended and trusted? within that price range?

IMO - and I have looked at some but not all the free/ very cheap options - these tend to not lend themselves to much customization. Not enough for my needs anyway. Incredible charts includes data for the price which make it inexpensive.

Initially I used Metastock but eventually became disenchanted with it and moved to Amibroker - for which I am more than happy to pay for upgrades every few years. It has far more features and options than I will ever need or want. The learning curve is steepish though and with hindsight (as I indicated on another post today) I would factor in a copy of Howard Bandy's 'Introduction to Amibroker'.

The real cost is for data. It can be obtained free but for quality EOD data I can trust I pay Norgate about $400 per year each for Australia and USA.

 

[shyguy]

Re: Recommend charting software based on this...

IMO - and I have looked at some but not all the free/ very cheap options - these tend to not lend themselves to much customization. Not enough for my needs anyway. Incredible charts includes data for the price which make it inexpensive.

Initially I used Metastock but eventually became disenchanted with it and moved to Amibroker - for which I am more than happy to pay for upgrades every few years. It has far more features and options than I will ever need or want. The learning curve is steepish though and with hindsight (as I indicated on another post today) I would factor in a copy of Howard Bandy's 'Introduction to Amibroker'.

The real cost is for data. It can be obtained free but for quality EOD data I can trust I pay Norgate about $400 per year each for Australia and USA.

i thought you can use the same data from yahoo in Amibroker as you would use in IncredibleCharts...?

 

[KurwaJegoMac]

Re: Recommend charting software based on this...

i thought you can use the same data from yahoo in Amibroker as you would use in IncredibleCharts...?

That's correct, you can use data from yahoo in Amibroker. Whether you would want to use that data is another matter entirely.

 

[shyguy]

Re: Recommend charting software based on this...

That's correct, you can use data from yahoo in Amibroker. Whether you would want to use that data is another matter entirely.

would that data be okay for an EOD trader?

 

[KurwaJegoMac]

Re: Recommend charting software based on this...

would that data be okay for an EOD trader?

Depends on the level of accuracy you require. Free data doesn't generally include things like stock splits and share dilution in the price that's quoted. So you may have inaccurate data for a given EOD.

If you're not too fussed about the closing price being 100% accurate, all the time, then you can use free data - it satisfies most people's EOD needs. Hard question for someone else to answer. You need to look at the way you trade/invest and determine how accurate you need your data to be and then go from there.

 

[shyguy]

Re: Recommend charting software based on this...

Depends on the level of accuracy you require. Free data doesn't generally include things like stock splits and share dilution in the price that's quoted. So you may have inaccurate data for a given EOD.

If you're not too fussed about the closing price being 100% accurate, all the time, then you can use free data - it satisfies most people's EOD needs. Hard question for someone else to answer. You need to look at the way you trade/invest and determine how accurate you need your data to be and then go from there.

well that potentially changes things again then... i would prefer the data to at least be completely accurate... also i just went into yahoo finance and looked at a particular share and it didnt even have it's candle for yesterday yet?!!

so what would be the next step up from cheap and nasty data and charting software...?

 

[KurwaJegoMac]

Re: Recommend charting software based on this...

well that potentially changes things again then... i would prefer the data to at least be completely accurate... also i just went into yahoo finance and looked at a particular share and it didnt even have it's candle for yesterday yet?!!

so what would be the next step up from cheap and nasty data and charting software...?

Regarding charting software, you can get some good free ones like:

http://www.incrediblecharts.com/

They have heaps of in built indicators and lots of features that are enough to satisfy most traders. If you're into back testing or systems testing for example you'll need other charting software. But until you know exactly what you need, start with incrediblecharts it's really good for a free app!

Then you can start looking at things like Metastock or Amibroker once you get more advanced and know what sort of features you need in a charting program.

Regarding data, some programs (like incredible charts) will have 'premium data' feeds that you can purchase. Most premium data costs about $20-30 on average per month. Some examples include:

http://www.premiumdata.net/

Norgate Premiumdata gets a lot of good reviews. Quite a few traders on the ASF use it, as well as Nick Radge from memory.

 

[nomore4s]

Re: Recommend charting software based on this...

well that potentially changes things again then... i would prefer the data to at least be completely accurate... also i just went into yahoo finance and looked at a particular share and it didnt even have it's candle for yesterday yet?!!

so what would be the next step up from cheap and nasty data and charting software...?

If you are serious about trading you will eventually need to get a charting package like Amibroker with quality data from someone like Norgate - I can recommend both products.

But you can also get by with Incredible charts or something similar but will probably run into limitations eventually.

You need to look at the cost of data and software as business expenses, if you want to learn to trade profitably you really do need to have the right tools.

 

[builder2818]

If you don't want to pay for charting use ProRealTime