Has anyone tried Ensign software in charting Forex? I see they have wonderful indicators & templates, yet i am not sure it works well on FX as obviously it was all made to serve equity traders. Also all the positive feedback coming from the equities side.
I'd be interested to know as well, and also which is the most reliable (and cheapest) was to get FX price feed? From what I've read it seems I'd need to pay 40 bucks a month for Ensign and then find a feed from somewhere else such as IB, have I got that right? If I didn't want to open a trading account with IB what's another way? Thanks Mick
Ensign isn't made for Equity Traders - most of the feedback comes from futures day traders and Howard visits the trading rooms in Echat for feedback. If you can chart it, Ensign will do a fantastic job. Being specific, 4x is just another vehicle to chart, and I find that my charts of ER2 & YM are a perfect fit for the Forex too. When I look at most Forex charts I see posted on the Internet, it's like going back in time 20 years. Time to wake up and smell the coffee
I use Ensign and love it for Equities but unfortunatley is stinks imo for forex. The main trouble issue is data supply.
I use Ensign for charting futures ( I trade equity as well as currency futs) - it's great. For equities as well, I might add, it's better than eSignal (but then again I stopped using the latter since early 2005, so it may have improved). For forex however, like Joab says, it is a dud combined with IB. There's some problem with data refreshing for some reason and I'ven't delved into figuring out why, frankly, since I've no interest in trading spot forex (though currency futs are ok).
Ensign has promised to have the FXCM live data feed by the end of the year (2006) at no additional cost to their monthly rate. See weekly class transcript for 10-18-06 by Ensign owner Howard Arrington: http://www.dacharts.org/archives/Ensign_Wed_class_transcripts/
Yoohoo, when you say: " When I look at most Forex charts I see posted on the Internet, it's like going back in time 20 years. Time to wake up and smell the coffee." ...do you mean the technical analysis used is old fashioned and they'd be better off with cutting edge stuff?
That sounds promising, but didn't I read somewhere they said the same back in 2005? Apart from FXCM what would be the easiest, cheapest, and most reliable way to get it up and running? Opening another trading acccount seems to be a lot of hassle just to get a data feed, is there another way? Thanks Mick