I've used Bloomberg for most of my TA in the past and am now debating between MetaStock, TradeStation and whatever other software is out there. My priorities are: * Do back test of my strategy or indicators on a group (portfolio, index, etc.) of companies. * Either very little programing (for back testing or new indicators), or easy to write programs as I don't have any experience in coding. * Wide usage, good forums and good library of codes, indicators, etc. * Low cost SO far, it looks like Metastock fits this match. Any other suggestions? Thanks.
I've used several over the years but Metastock has always been a fav. Amnibroker is quick but I'm not fond of the charting. You have data feed concerns as well. I've yet to find the perfect package.
On Metastock, how easy is it to write (program) your own indicators and is it easy to find codes for indicators, etc. Looks like Tradestation seems to have the best treasure chest of indicators, etc. Thanks.
Take a look at Sierra Chart too. I used MS PRO for about 2 years and have recently switched to Sierra Chart. The main reason I switched was I can use the real-time feed from my broker and Sierra Chart supports several major brokers. MS PRO has no hooks for API trading and you will have to pay individual exchange fees for real-time data (couple of grand a year savings if you subscribe to multiple exchanges). Metastock is a good program but they are behind the times with respect to the API and they have not had a major product upgrade for years. Sierra Chart also has trade simulation using your broker feed and you can replay charts for backtesting. As far as programming, you can either use spreadsheets which requires no coding or learn their ASCIL language which is supposed to provide better performance because you can compile into a DLL. I don't have much programming experience either and it took me a week to automate my strategy using their spreadsheets and I have yet to touch ASCIL. One warning about Sierra Chart though is you need a pretty good PC to run it as it tends to be a CPU hog based on my experience so far.
comprehensive list of MS related sites: http://www.robertew.com/ major MS forum; see Links; coding assistance etc, consider going back several years and reading forward: http://finance.groups.yahoo.com/group/equismetastock/ MS developer forum: http://forum.equis.com/ largest collection of MS indicators and Expert Advisors illustrated on charts plus code etc: http://trader.online.pl/MSZ/!-MSZ-index.html some MS users prefer using TradeSim for backtesting since there are problems with MS's - search 'backtesting' in equismetastock forum: http://www.compuvision.com.au/