7 Tough Rounds of Reviews & Comparisons.
Do you know about Bollinger Band Squeeze? Yes, that’s my favourite Bollinger Bands trading strategy and I use it in my charting software Amibroker. Here comes a pleasant article from best forex ranking (dot) com on Bollinger Band Trading: Bollinger Bands encompass higher and lower band with a .
I always used to think about projecting these levels so that one could plan some strategies around price action. Now here is an AFL which does exactly that! Reduces the trading noise so that you trade only when there is movement outside of a trading range. This AFL can be used, with or without the time axis. That latter is better for filtering out noise and having a clearer direction on trends. Advisable to use the 3 bar breakout.
You can also compare this with Point and Figure charts PnF. The only difference, being that PnF charts change columns only when there is a change in direction only. Also included is the Elliot wave movement. Elliot wave explanations will be provided as one the trading concepts in the main TA section. Contributed by JR Julius from his database A trading strategy that was developed in by former ballroom dancer Nicolas Darvas.
Darvas' trading technique involved buying into stocks that were trading at new week highs with correspondingly high volumes. A Darvas box is created when the price of a stock rises above the previous week high, but then falls back to a price not far from that high. If the price falls too much, it can be a signal of a false breakout, otherwise the lower price is used as the bottom of the box and the high as the top.
It is formed by taking the highest high and the lowest low of the last n periods. The area between the high and the low is the channel for the period chosen.
It is commonly available on most trading platforms. On a charting program, a line is marked for the high and low values visually demonstrating the channel on the markets price or other values. The Donchian channel is a useful indicator for seeing the volatility of a market price. If a price is stable the Donchian channel will be relatively narrow. If the price fluctuates a lot the Donchian channel will be wider.
Its primary use, however, is for providing signals for long and short positions. If a security trades above its highest n periods high, then a long is established. If it trades below its lowest n periods low, then a short is established. Originally the n periods were based upon daily values. With today's trading platforms, the period may be of the value desired by the investor. The story of how a group of non-traders learned to trade for big profits is one of the great stock market legends.
It's also a great lesson in how sticking to a specific set of proven criteria can help traders realize greater returns. In this case however, the results are close to flipping a coin, so it's up to decide if this strategy is for you. Turtles were taught very specifically how to implement a trend-following strategy.
The idea is that the "trend is your friend", so you should buy futures breaking out to the upside of trading ranges and sell short downside breakouts. A turtle trading system is attached along with. Also, considering the complexity of the automatic calculations the application runs swiftly taking just a few seconds to complete an entire analysis. Finally, the last winner in this section is EquityFeed.
After installation, this software is so intuitive to use you will waste no time getting stuck into research and wielding the excellent news service they offer. This has been a big improvement over the last few years. As stated previously, no two products are identical, there are many strengths that are designed for each product to suit specific needs.
As such, most of the packages can be recommended to a specific audience based on their strengths. In the following summary reviews, we look at the benefits of each package. This list is the software with the most powerful technical chart analysis, indicators, charts and studies. With these Stock Trading Programs, you can trade directly from the charts with broker integration. There is no doubt about it, TradingView has stormed into the Review Winners section in its first try. I spent 2 days playing with this software, and it is seriously making me think about leaving my beloved wife TC It is a close run competition and I am genuinely shocked at how good it is.
However, there are limitations. Any idea you have based on fundamentals will be covered. You can look at community ideas, post your charts and ideas and join limitless numbers of groups covering everything from Bonds to Cryptocurrencies. Add that to the social network and you have a great solution. The news service is only second to MetaStock with their Reuters Feeds. With the Premium membership, you also get Level II insight, fully integrated.
TradingView has an active community of people developing and selling stock analysis systems and you can create and sell your own. Also, there are a huge number of indicators and systems from the community for free. The only things you cannot do is forecast and implement Robotic Trading Automation. Read the Full TradingView Review. Recommended for Long-Term Investors in the U. Telechart has long been one of my favorite tools, I have been a subscriber for over 17 years and find the latest release v Endlessly customizable and scalable the platform offers nearly everything an investor may need.
It is priced very reasonably with a simple pricing structure. If you trade U. Worden also provides regular live training seminars which are of a very high quality. This integration means a tight integration for trading stocks from the screen but also one of the best implementations of Stock Options trading available. If you want social community and integrated news, you will need to roll back to TC v They have also introduced live alerts which you can configure to email or pop up if an indicators or trend line is breached.
You may be able to utilize the add-on product called StockFinder, if you are a Platinum Member and you specifically call to ask for it. However, StockFinder is no longer in active development, which is a shame because I think it is one of the very best in the market. Read the Full TC Review. Recommended for day traders and those who need excellent real-time news, access to a huge stock systems market and powerful technical analysis with global data coverage all backed up with excellent customer services.
The latest release of Metastock XV has been a big hit with improvements across the board. Excellent watch lists featuring fundamentals and powerful scanning of the markets gets a perfect This is the fastest global news service available on the market including translations into all major languages.
Never mind the broadest selection of technical analysis indicators on the market today. MetaStock is the king of technical analysis warranting a perfect The biggest addition to the MetaStock arsenal is the forecasting functionality which sets is apart from the crowd. With a medium price point, it is neither cheap or expensive, but you do get a lot for your money as we will explore later in this category. Data speeds are excellent and it has excellent U. The EquityFeed Team have a fantastic set of integrations to your broker to enable this, which includes TD Ameritrade and Interactive Brokers two of the powerhouses of the brokerage world.
But what is the key for days traders? The ability to scan entire markets for liquidity and volume patterns to find volatility you can trade for a profit. This is the EquityFeed unique offering. The power here is in the technical analysis screening, which is very fast, seamless and powerful. Plenty of off the shelf technical and liquidity scans greet you on opening the program. The great thing is they all operate in real-time so they continue to update. I have been extremely impressed with the progress EquityFeed is making in their product and carving out their Day Trader Niche.
Market Analyst has been in the market for almost 20 years and they cater to individual investors as well as to fund managers. A fantastic array of technical indicators and drawing tools. Also included are Elliott Wave and Darvas Box, the full set of exotic indicators are present. The interface, the shortcuts, the whole thought process implemented into Optuma does warrant this good score in an important section. They also have an extensive video training library which is very valuable to the new customer.
Recommended for Quantitative Analysts who develop powerful automated systems and value a huge selection of shared user-generated systems and powerful technical analysis tools. QuantShare was new to me and I was pleasantly surprised with the feature set. Watch-lists can be tricky to set up. Further development required here. There is a heavy focus on the sharing aspect of systems with sharing servers which enable people to connect and share systems, perfect for the quant.
The learning curve will take a time investment on your part. It solves the problem of too much time spent doing analysis, drawing trendlines, tweaking indicators and analyzing timeframes.
The automated trendline detection saves a lot of time for traders, speeds up trade preparation in the morning, and improves accuracy. The TrendSpider algorithm uses mathematics to correlate all the bars on a chart and then draw the lines. It highlights the touches at peaks and troughs in a price trend. Therefore, if a price breaks through a strong area of support and resistance it is more predictive.
If you do not like a trend that the AI has used you can manually delete it or fine tune them. With this capability, you can have a complete trendline analysis on any chart in a few seconds. Start a Free TrendSpider Trial. It may seem a little complex at first, but when you get used to it, it makes a lot of sense. One thing I also really like is the price indicator analysis, you can let the application plot, name and highlight your Japanese Candlestick patterns of choice.
Just turn on the pattern recognition it is that easy. Read the Full TrendSpider Review. Notes on the Review: Liberated Stock Trader has affiliate referral agreements with many of the Brokers in the review.
This means if you sign up with your broker of choice we may receive a referral payment. These payments help fund this site. This may seem to represent a conflict of interest, however, this review is impartial and only recommends the best solution in any given round based on the data.
If you would like to let me know your experiences, I would welcome them. Do I have to put in My own details for a good setup, or is there any? So when it only comes to this — screening — what would you say is the best software? Hi Andy, with the top packages you can screen on Fundamentals, e. You can also screen on technical analysis, price above 20 day moving average or stocks at 52 week low.
It really depends on how you want to trade, on fundamentals or technicals or both. Stocks moving higher from a lower base, with good fundamentals. Both technical and fundamental work, and Metastock, TC perform the job really well.
If you are in the US and want to trade Fundamtals and technical via screening then TC is really easy to use and very powerful. Metastock has powerful Advisor wizards for things like Elliot waves etc. You should have listed the also rans and their rating just so we know what were covered and what were left out. Also, perhaps you can do the same for scanners both stand alone as well as part of packages like above.
Have you ever evaluated Stockopedia, based in the UK? If not please consider taking a look at themin the future.
Hi Ron, I never heard of it. I just had a quick look, seems to have some good functionality, but quite expensive. I will check deeper next round. Hi Bob, do you use wealth Lab, are they worth taking a look at? I did have a look at the software and site but with a cursory glance did not think it would make the list.
Perhaps you can share your experiences either here or mail me and we can take a closer look in the next round. Barry, I just took a look at tradingview and I have been around some years investing, it loooks great, nice find. I have been using the paid version of stockcharts. Hi Darren, well I did do a review of its free features over on this page. For me it misses some backtesting features and customers indicators and charts.
But I might be wrong. What are your views as to how it stacks up? Perhaps I will review it for the next round. I use to use Stockstotrade, and one day I go to log on and it said my account was suspended, I called and wrote customer services and they said it was do to Market Compliance inconsistencies.
Hey Tim its not my fault you platform is a piece of sh1t! Hi Joseph, there certainly are a lot of RIP off stories in the markets. I heard of this guy, he certainly has some intense sales pitch. I think it is best you choose your own stocks and go with a professional discount brokerage to execute your trades. By the way, the stockstogo website has been hacked with malware. If says chrome is out of date, and kicks off an auto download of an.
The tools reviewed here seem much cheaper but it is hard to compare. I guess these companies are throwing in training also. If you want to trade forex, then a CFD broker would work out a lot cheaper. Many of them have education, free software and analysts providing ideas and signals. MetaStock on this list also have expert advisors and idea strategies predeveloped systems.
TradingView also have traders you can follow. I have never used a live trading room I prefer to go it alone, and also I do not day trade, I buy great stocks as a portion of my portfolio and let em run until they make a lot of profit e.
It is easier money and less effort than day trading. I like to have a life. I would suggest the PRO Training first — so you have a great understanding of investing and technical analysis — then if you want a trading room later using your own software — much cheaper go for that.
Thanks, Barry, for the intro to TradingView and QuantShare, which had not heretofore popped up on my radar. Taking a closer look at them. I am surprised that Amibroker is not included in your review, however. Again, thanks for the reviews of some very promising software. Just a couple of questions…does Tradingview or TC allow the use of a 4 monitor setup?
How does eSignal compare to Tradingview and TC? Why does Tradingview make purchasing the program Platinum in my case so difficult: Now my personal information and card information is out there and no way to trace. Tradingview may be great technically but customer support is way down their list of important things to do. Hi Stephen, Trading View does allow the use of multiple monitors, you can either open separate browsers for each window and configure them accordingly or stretch the browser across all 4 monitors and configure.
I think the former is better but it takes a little more fiddling around when you start your trading day. You can have 8 charts per browser window with the premium plan and have multiple windows.
Alternatively, metastock is also an excellent option and better configurable for multimonitor setups.
This appeals to me a lot because with a single click you are up and running.
The interval setting affects active window only, so each window can have different interval.