Since I am looking for a TA program for charting, and building watchlists, scans, etc., - I am currently demoing the TC2007 software, and wondering about Amibroker. I'm a little overwhelmed with demos, etc, and have been researching past posts here, and will continue to do so. It seems that the two I have narrowed it down to are TC2007 and Amibroker. With the current Worden promo, both TC2007 and Amibroker are economical. The little bit that I have used TC2007, so far I like it, but would like to know more about Amibroker. I am using IB data for real time, and see that Amibroker works with that. It can also do backtesting. It also looks like Amibroker is a one time purchase, and not a rental, which I like. Would like to hear more from anyone that has used both of them. I would like a well organized, and user friendly platform with great features for scanning/building watchlists. Thanks, Gordo
Hey Gordo, Both have trial versions so you should check them both out before you buy. I'm using Amibroker and like the programming language and its features. It is easy to use and you can create just about any indicator you want. However, you have to purchase your own historical intra-day data. Also, I haven't used it real-time and have only been using it for after-market analysis. Jay
You are going to need a quote database if you choose Amibroker, so you may want to purchase both programs (as i do). I wouldn't recommend relying on the "free" data feeds that can be used with Amibroker. If you plan to trade stocks and do not have a predefined list of stocks from which to select, you'll end up spending LOTS of time maintaining the database - something that is done for you with a database subscription like Telechart. Snapsheets will eventually be a powerful charting compliment to the TC database, but unless you are a programmer, you'll be relying on development of indicators, etc. by others. There is not a whole lot for the non-programmer to use as of yet. It is to be seen whether most developers will be charging for their work or making it available to the community for free. It looks like they are setting it up to be supported by fee-based developers, but i could be wrong. If you are interested in backtesting, you will definitely need Amibroker. Amibroker's basic charting capabilities are much more versatile than Telechart's, although Snapsheets will compete in this regard (again, if you are a programmer or are willing to settle with the tidbits of charting modules that are made available by others).
Like I said in another post, AmiBroker can do backtesting with real time intraday data but TC/SnapSheets cannot at this time. AmiBroker is not "user-friendly" if you want to do anything sophisticated, e.g. developing your own systems, but right now as far as I'm concerned it's the only game in town. I started out using IB's datafeed, but that quickly got frustrating and I started using eSignal basic, but their charting sucks IMO. Try AmiBroker out for free, but if you decide to buy make sure because they will NOT give you a refund if you decide you don't like it. Also, bear in mind their support is only by email but they will usually respond within 24 hours. Worden gives all kinds of great support and training for TC and snapsheets looks good, but not without backtesting with real time data. If you haven't already looked at it, try Ensign too. I like AB better, but to each his own. Chuck
You can do just about anything you can imagine with AmiBroker. But you have to invest a lot of time understanding and fooling around with their programming language to make it happen. Basic indicators and so forth are all built in, but if you want to build your own systems or make the program work differently than the way it comes out of the box, you have to learn their language. I wish somebody would write an "AmiBroker for Dummies" book to simplify their manual, which is very complete, but not easy to digest.
Demon,I am in 100% agreement with you on the Amibroker for Dummies manual.But I dont agree with you on the basic coding.Ami's basic AFL is pretty dam easy to code.Its simple to optimise,and that goes for indicators,stops or anything else.. Where Ami becomes a freaking bear is when you start with scaling of positions and require looping code.The manual simply doesnt explain things thoroughly,and there is no logical progression from AFL to the advanced language.