Backtesting Software

Discussion in 'Trading Software' started by jlcarey1, Feb 24, 2004.

  1. jlcarey1


    I am trying to decide which backtesting software I want to purchase. I have read many posts, but I am still undecided. Basically I have two options: Metastock and Wealthlab.

    I want to use it for end-of-day data.

    Any further assistance or opinions on these two software programs would be appreciated.
  2. BLT


    I currently use Wealth-Lab 3. I also own MetaStock and a couple of other platforms. Wealth-Lab, in my opinion, is much better than MetaStock.

    Wealth-lab has over 1000 systems on their website to give you ideas to build upon your own system and the biggest asset to Wealth-lab is their support. The community at the website is very helpful and the developers have always helped me when I needed assistance.

    I no longer use any other platform. Wealth-Lab serves all of my needs.

    Hope this helps.
  3. abogdan


    Don't mean to impose but our FREE MAGUS software has built-in very accurate market simulator that you can use.


  4. mmm


    Anyone know of backtesting software that can backtest clusters retracements and extension?

    In other words, it would be able to find all the relevant swings over the max time period specified, whether it be on a monthly, daily, 60, 15, 5 minute chart, and project the retracement and extensions of all of those swings from the relevant swing point (not all swings need to terminate at the same swing point). If the market reacheds a cluster of these retracement and extension levels, that would be a trading signal.

    -- MMM
  5. nitro


    Well, maybe someone that is more up to speed than I am on swing trading would be able to answer this question, but if I were programming this for you, I would need a very clear definition of what "all the relevant swings" means, and "project retracements and extensions..."

    I get the idea of what you are saying, but that is not enough for a computer.

  6. mmm


    That's part of the challenge, defining the swings, but impossible. You can tell with your eye what the significant swings are no a chart. Coming up with rules to capture them should not be too difficult.

    I'm sure that a custom built C or VB program can do this project easily enough.

    I'm not so certain how easily it can be done with the tools that are out there, such as Wealth-Lab or TradeStation.

    It's something that I've been considering doing, but I may end up spending more time programming than trading!

    Do you think this can be done in TS or Wealth-Lab?

    -- M
  7. Turok


    >You can tell with your eye what the significant swings
    >are no a chart. Coming up with rules to capture them
    >should not be too difficult.

    If it's not difficult to come up with the rules then accomplish that and the programming is relatively easy. (I think you may be underestimating the "rules" effort.

    >Do you think this can be done in TS or Wealth-Lab?

    Yes to both. And I far prefer WL. The support is superb.

  8. hektor


  9. proptr8r


    is there a way to backtest when certain analyst change their earnings expectations?
  10. chs245


    yes, - check out their institutional product
    or you subscribe to FirstCall and do it yourself.

    #10     Mar 11, 2004