Integrated Charting/Scanning for use with IB

Discussion in 'Trading' started by GaretJax, Aug 20, 2001.

  1. Fohat



    I use Nextrend for futures data/charts (very reliable). QQL will offer futures data in the near future.

    The new Nextrend 3.00a version has improved charting, but still has limited number of symbols, limited number of technical indicators, limited number of pages and limited number of windows per page. QQL updates the software more frequently and has unlimited number of symbols, charts etc.

    To sum up, both have advantages and disadvantages, with IB commissions I can afford both.

    #11     Aug 20, 2001
  2. Rushman

    Rushman Guest

    I haven't started trading quite yet, and must admit that my knowledge is rather limited. My question may therefore seem simple to most of you, but nevertheless here it is: why is's Livecharts service such a bad choice? It's price of $20/month certainly seems attractive. Does it include a futures charts/data feed as well? Thanks!

    #12     Aug 21, 2001
  3. BSAM


    Rushman: has great software/tools, but their data feed reliability SUCKS out loud. Their customer service is very bad also. Unless they have made recent BIG improvements I'd suggest a different data feed.

    #13     Aug 21, 2001
  4. GaretJax



    According to their websites (QQL and Nextrend) QQL has 21 indicators and Nextrend has 34. Does QQL have more than what is listed on the site. I am a newbie and right now I am mainly using bollinger bands, stochastic, RSI, and Parabolic SAR. According to their websites QQL does not have Wilder RSI nor Parabolic.

    However, as you said - with IB commissions so low you can afford to have both. But as a newbie I would prefer to use only one charting program.


    QQL Indicators (from their webpage)
    Use these technical studies and indicators:
    Volume (two tone)
    OHLC (Open, High, Low, Close)
    Moving Average (price/volume)
    Moving Average Convergence Divergence (MACD)
    On Balance Volume
    Relative Strength Index (RSI)
    Bollinger Bands
    Williams' %R
    Fast/Slow Stochastic
    Chaikin Oscillator
    Market Facilitation Index
    Relative Performance (2 symbols)
    Directional Movement Indicator (DMI)
    Normalized Performance
    Price/Volume Trend
    Donchian Channel

    Nextrend Indicators:

    Dual Axis Charting
    Bollinger Bands
    Keltner Channels
    Average Balance Volume
    Average Directional Movement Index
    Commodity Channel Index (CCI)
    Cumulative Volume
    Directional Movement Index
    Directional Movement Oscillator
    High Low Oscillator
    Historical Volatility
    Keltner Channel
    Moving Average Convergence Divergence (MACD)
    Moving Average Convergence Divergence Oscillator
    Trend Lines
    Moving Average Envelope
    Moving Average Momentum
    Moving Average Oscillator
    On Balance Volume
    Open Interest
    Price Rate of Change
    Wilder Relative Strength Index
    Stochastics (Modified, Slow, and Fast)
    Tick Volume
    Up Ticks vs. Down Ticks (Difference and Ratio)
    Variable Accumulation Distribution
    Volume Rate of Change
    Wilder Volatility
    Williams %R indicators

    #14     Aug 21, 2001
  5. BSAM



    It seems one could make reasonable trading decisions using the tools offered by either QQL or NexTrend. I believe most will tell you that if you try to apply too many indicators, you will get so many mixed signals that your trading decisions will be confusing to you. Better to understand 3 or 4 indicators and combine those with market internals, futures movement, etc. in order to make trading decisions. Trying to apply too much at once greatly aggravates the picture.

    #15     Aug 21, 2001
  6. Fohat



    By "limited number of technical indicators" I mean that Nextrend has limit on the number of TI(Technical indicators)you can plot on a chart (for most plans up to 3 TI per chart, when you plot the price). There's also limit on the number of windows you can open in a workspace and limit on the number of workspaces. QQL doesn't have such limits, even the $19.95/mo plan.
    QQL has RSI, no Parabolic. Nextrend has no Chaikin Oscilator, but plenty of other oscilators.

    Nextrend double counts TI (Keltner Channel, Keltner Channels and others) and counts Trend lines, Dual axis charting as TI, but they are not TI. Therefore the 34, 21 TI numbers are misleading because they are calculated differently.

    I use more than 16 winodws per workspace for stocks/options, so Nextrend is not sufficient for me.

    Both are very good for making trading decisions,
    have very stable datafeed and more technical indicators than Qcharts. Which charting/scanning package to select depends on your trading needs.

    #16     Aug 21, 2001
  7. GaretJax


    Thanks Fohat. Yes I ran into the nextrend limitation last night - only 4 indicators per chart for the free version. The subscription version allows 16. I will probably trial the qql for a month since I really can't get a good feel without playing with it - I really like that nextrend allows you to download their software. Also I do like the fact that qql allows you to save your desktop schemes - I have a 2-monitor setup and that is very useful.

    #17     Aug 21, 2001
  8. Rushman

    Rushman Guest

    Still wondering if anyone knows whether's LiveCharts offers futures charts/data feeds? Thanks.

    #18     Aug 21, 2001
  9. Turok


    I am a subscriber (they're my backup feed and an unreliable one at that) and unless I'm a moron (there's that chance) there is no futures data.

    #19     Aug 21, 2001
  10. both QCharts and Livecharts offer U.S. futures data.

    Right now emini's are free until sept when a $10/mth charge starts from CME for real time though.
    #20     Aug 21, 2001