Simple Charting for Beginners

Discussion in 'Trading Software' started by trader59, Jan 22, 2004.

  1. trader59


    What would you consider the best software package in terms of: 1. reliability 2. ease of use 3. clarity of charts for basic charting and Level I quotes?
  2. You need to add a few more criteria, such as cost, whether they have data or not and whether you want additional features like backtesting and ability to create your own indicators. For barebones, I'd say QCharts is hard to beat, for a chart app that requires a data feed, look at Ensign, QT or Sierra charts, and for more sophisticated packages, look at Wealth-Lab, TradeStation and Neoticker. Many also swear by ESignal, which offers many different levels.
  3. I just got a flyer in the mail this morning saying Esignal now has a browser based streaming quotes and charts for $14.95 a month. I would imagine you are limited to one chart at a time, tho.
  4. JayF_eSignal

    JayF_eSignal eSignal

    Here's a screenshot of MarketCenter Charts that easyrider was referring to.

  5. Not to push in one direction, but I've always liked Esignal. It's likely overkill for a beginner. Perhaps their MarketCenter ( product would be a good start. However, make sure you add on the charting feature, which brings the total up to $25 per month.

    Medved Quotetracker ( is also a good place to start, if you have a broker from whom to get the data feed. Their charts can get you started.

    If you don't need real-time and just want to learn charting/TA then

  6. kowboy

    kowboy has end of day charts and user defined or preconfigured scanning studies for $8.95 per month.

    Xoomtrade has a trading platform with level 2's, charts, and some studies available for the charts. The cost is $40. per month and the transaction costs are 1/2 c per share plus ECN fees.
  7. agpilot


    Consider reading the other string titled:
    "Anyone ever use TC2000"

    4 a beginner I would think data and charting all together
    would help keep it simple. End of day is $30/mo..? There are
    several free websites for intraday charts\quotes if needed.
    Keeping it simple may be a smart way to start a beginner?
    good luck which ever way ya go......
  8. trader59


    I was actually writing about intraday RT charts. Price is not that much of a factor. I am a prop trader and would have to shell out $200/mo. or so for exchange fees at any rate. By simple, I mean simple to use and easy to read.
  9. Where does Amibroker fit in, compared with these packages, in terms of charting features (historical and intraday), backtesting, etc.

    In Amibroker's help, they say:
    -build-up and store historical tick or 5- or 15-second bar data for backtesting purposes (RT version, eSignal feed only)
    -build-up and store intraday minute-bar or end-of-day data for backtesting purposes

    Does that mean that unless you have ES feed, you can't backtest on historical??? I can't have that right, can I?


  10. Amibrokers charts and capabilities are excellent. It is absolutely the most flexible charting backtesting software available and at a reasonable price. Custom indicators are fairly easy to create and there is an absolute wealth of information, formulas, indicators available for free on the Amibroker website as well as on the yahoo amibroker message board. The developer is very involved rapidly issuing new beta releases with new features on a bi monthly basis.

    1) AB End of day can get free eod data from Yahoo and MSN.
    It can also read paid data from a multitude of vendors.

    2) AB Professional features intraday charting (as well as eod) and can get free intraqday data (last 500 1 minute bars) from Lycos/ Pro version can also hook up to Interactive brokers through Quotetracker to obtain and chart real time free intraday data (from IB). Or you can pay esignal or several others for data feed easily read by AB.

    Amibroker is a "life long software package" (NO BS) constantly evolving with new features. I have tried most packages out there and have never left Amibroker, my main charting and backtesting package.

    If you are truly a newbie there might be some advantages to getting your feet wet with TC2000 for a few months, software is free and data (good data) is only 30 bucks/month. After a few months you will long for something more flexible and "professional" alowing you to be more creative with your charting/indicators and perhaps start backtesting your own ideas to see if they would be profitable. Thats where Amibroker comes in, and excels over packages like Metastock.
    The developer Thomasz Janesko is absolutely devoted to his software AND customer service. You can get help within the hour most times on the message board, sometimes within minutes.

    There is an excellent software plugin available called Powerscan that will turn your trading formula ideas in english into Amibroker Formula Language (AFL) automatically, rapidly building up your skills with the software.

    You can't go wrong with Amibroker.

    Good Luck
    #10     Jan 27, 2004