Hi! I´m searching a end of day screening software to develop a watchlist for multiday swing trades. Can anybody help me? thx
I use Metastock for exactly that purpose. It works fine, although it has some limitations in evaluating the success of your screening techniques. It is annoying that it is not possible to check the profitability on both a large number of stocks and a long timeframe. If anyone knows of a prog that allows to test profitability on these 2 critreria AT THE SAME TIME, pls let me know Oliver
I have been using Quotes-plus for several years. I output some symbols to look at in Supercharts, but the Qplus software has a database scanning ability, with which you can write your own scans. There are many scans that come with it and making up new ones is not hard. www.quotes-plus.com RC
Samba.... metastock...Tc2000 would be 2 that come to mind. Oliver been hearing some good reports of amibroker. I haven't used it but led to believe the backtesting is heaps better than metastock. www.amibroker.com
I have Metastock and TC2000, with Metastock having nice charts but limited testing ability. TC2000 is a resource hog and clunky, but has great EOD scans. For testing profitability on a portfolio of stocks and a long timeframe, try amibroker for $80, or the superior Wealth-Lab for $500. Both are better for testing than Metastock IMO. My process is to take TC2000 and scan for stocks with med volume or greater, and high volatility. I then load this watchlist into Wealth-Lab and run a scan on them with my system for the last 90 days and for the last couple years, to find consistent, recently profitable stocks to trade. You can sift down 8,000 stocks to 30 good ones in five minutes each day doing this. I can then take the portfolio of the best stocks and test it over a couple years to check for drawdowns, etc. as a group.
I use a similar filter for volume and price breakouts. I import the data each night into Excel, retrieve the quotes via Yahoo into the spreadsheet and set up a trading strategy this way. It takes a lot of time and a fair amount of VBA programming. Glad to hear about Amibroker and wealth-lab. Will def. check them out. Oliver
technifliter plus allows backtesting on a basket of stocks, not sure if thats what you're looking for?
Samba - Depends on what kind of screening you're looking to do. If you've got personal criteria for selection (beyond price range, min volume, etc.), try TC2000. If you can make use of predefined scans with some personal filters and want to get support/resistance projections too, try Trade Prospector. Depends on what your particular screening needs are. Good luck.
dderinia, Why do you use TC2000 as the primary filter? Can't Wealth-lab do this also? How do you export from TC2000 to Wealth-lab? Thanks, Mike