Real-Time: eSignal or WealthLab?

What are the strengths and weaknesses of each package, in terms of programming flexibility? I need to convert a whole bunch of TradeStation code and was wondering if both of these supported trendline drawing, pivots, etc.

 

First note that you will have to purchase a Real-time
data-feed for use with Wealth-la. The Wealth-lab
scripting language is very powerful.

I know a number folks who utilize both. They use E-Signal for
the data-feed, and Wealth-Lab for studies.

Since E-Signal has a monthly fee and Wealth-Lab is only a
one time purchase fee... you may want to consider both
tools.

- Greg

 

are you referring to back testing, or just a software for quotes etc? or real time filtering?

 

Back testing, real-time analytics, and real-time trading systems.

 

I've been trading very profitably with IRT for two years now. Check them out before you make a decision on another platform. Somebody posted a long, rambling slam on IRT on this site, but their experience is not well informed, in my opinion. Extremely flexible system for backtesting, charting, etc. etc. Incredible support, almost instant e-mail returns, and a carefully monitored chat room on Yahoo.

 

the problem with IRt is that you can only scan a max of 1000 stocks right? Its vital to me that I can can the entire universe at one time. Why would you keep yourself short? That was also the problem that I encountered with another filtering software. They were charging way too much just to be able to scan 1000 stocks realtime. You should look into other platforms that can give you the extra edge over IRT.

 

Mark,

Converting from TS to WL code is relatively easier that to eSignal code because they are both quite similar (similar to Pascal/VB) while eSignal efs is based on java. Here is an example of a conversion.

TS Code:

{Identify Scale Factor}
If HH <= 250000 and HH > 25000 then SF = 100000
else if HH <= 25000 and HH > 2500 then SF = 10000
else if HH <= 2500 and HH > 250 then SF = 1000
else if HH <= 250 and HH > 25 then SF = 100
else if HH <= 12.5 and HH > 6.25 then SF = 12.5
else if HH <= 6.25 and HH > 3.125 then SF = 6.25
else if HH <= 3.125 and HH > 1.5625 then SF = 3.125
else if HH <= 1.5625 and HH > 0.390625 then SF = 1.5625
else SF = 0.1953125;

WL Code:
{Identify Scale Factor}
If (HH <= 250000) and (HH > 25000) then SF := 100000
else if (HH <= 25000) and (HH > 2500) then SF := 10000
else if (HH <= 2500) and (HH > 250) then SF := 1000
else if (HH <= 250) and (HH > 25) then SF := 100
else if (HH <= 12.5) and (HH > 6.25) then SF := 12.5
else if (HH <= 6.25) and (HH > 3.125) then SF := 6.25
else if (HH <= 3.125) and (HH > 1.5625) then SF := 3.125
else if (HH <= 1.5625) and (HH > 0.390625) then SF := 1.5625
else SF := 0.1953125;

Notice the difference? Just add the :'s.

The code above is based on a recent conversion example here.


pretzel

 

Here's the line drawing function. Example of a chart with circles here.

pretzel

 

I just realized that one of my WL scripts is by Mark Conway - dont know if you're that person. Check it out here.

pretzel

 

Pretzel, that's amazing! Great job. I will be uploading more soon.

MC