Best Scanning Software Combo

Discussion in 'Trading Software' started by BullFighter, Apr 21, 2002.

  1. I would like some opinions on the best scanning software combinations.

    First Package.
    End of day scanner that can identify a list of symbols that fit the scan criteria but have not yet triggered. I want to be able to scan all NASDAQ and NYSE issues futures and options. I'm assuming that almost all scans have a set of filter criteria (Price > $5, Market = NASDAQ, RSI > 80) and one or more triggers (Price crosses MA, Price drops below another Price, etc.) The idea is to identify a watch list of stocks that meet the filter criteria but have not yet met the trigger criteria. Each night I would like to review the canidates that fit the filtered watch list. I would like to eliminate a symbol if I don't like it. I would also like to calcualate initial stop loss, target price and position size the night before, All the better if the software can aid in doing this. Although not required, I would like to use TAL data feed for data if possible. Of course backtesting and optimization should also be part of this package.

    Second Package (Possibly same package as the first)
    I would like to take the watch list from above and continue monitoring the trigger criteria. Upon a trigger condition, I would like to have a little trading box pop-up that summarized the play and would allow me to just click to enter the position. The pop-up box would also allow me to adjust the size, price etc. Although not required, I would like this package to use the TAL data feed and integrate into RealTick for trading.

    I'm not adverse to coding some of the functionality. I just want to start with the best platforms.

    For package 1, I'm thinking TC2000, MetaStock Tradestation. I have heard that all of these have difficulty scanning the universe even EOD. Is this true?

    For package 2, I'm thinking Wealth-Lab. Some of the issues are the porting of the watch lists from package 1 to package 2. Also writing the triggers in both programs could become an inconvience.

    Any and all advise/opions are welcome.


  2. Jaba122


    Consider Investor RT from Linnsoft. It can scan a huge database searching for instruments that match your criteria, backtest, create performance reports, tons of indicators, charting, custom real-time programming language, etc..