amibroker vs mt4 for charting

jagankris

Well-Known Member
#2
hello

forum members please highlight the difference between amibroker and mt4

the pros and cons of each , the scope of automation , customization ,

overall features and future trend in developed markets


best regards
Both are programmable,customizable.
Ami is simple powerful and auto trading is already available for Now/ODin etc.
AMI has scanning facilities.
AMI has fixed volume bars,range bars.Mt4 doesn't.
MTF indicators doesnt come default.Should be available.

I never heard of any one auto trading from MT4 to NOW/ODIN.
MT4 - no default scanning.
Multi time frame indicators are available.
MT4 - lot of algo's are freely available.

For the time being AMI is better compared to MT4 for trading the indian markets.
 

RDutt

Active Member
#3
Besides other things, data for Ami is easily & at reasonable pricing available while for MT4 its little bit higher side and that too not perfect so far, I am told. Scannng & Explorations also gives Ami an upper hand.
 
#4
HI

In trading what you dont know can hurt you.

For example MT4 platform offers special order execution facilities.

you can place an order set that has 3 components at one shot.

pending order
USD/EUR

EUR/USD BUY STOP ENTRY 1.3056 TP1 1.3076 SL 1.3036
SELL STOP ENTRY 1.3022 TP1 1.3002 SL 1.3042

ONCE YOU FEED THESE ORDERS,What I understood,is if after buy is executed,if tgt is reached,trade is sold and stoploss becomes void.
if after buy is over,if stoploss is hit,then target order is void

In india,nse exchange is say 50 years behind.
we dont have OC-ONE CANCEL OTHER FACILITY.
WE NEED TO SIT NEAR PC. TO CANCEL UNEXECUTED STOPLOSS ORDER IF TARGET IS EXECUTED
IN CASE OF MT4,YOU PLACE ORDERS ,STOPLOSS,TARGET THEN GO AWAY.
YOUR JOB IS DONE
This is where MT4 is ahead in the game.
 

mastermind007

Well-Known Member
#5
Both are programmable,customizable.
Ami is simple powerful and auto trading is already available for Now/ODin etc.
AMI has scanning facilities.
AMI has fixed volume bars,range bars.Mt4 doesn't.
MTF indicators doesnt come default.Should be available.

I never heard of any one auto trading from MT4 to NOW/ODIN.
MT4 - no default scanning.
Multi time frame indicators are available.
MT4 - lot of algo's are freely available.

For the time being AMI is better compared to MT4 for trading the indian markets.
jagan

Agree with most of your points except scanning and auto trading. MT4 has "scripts" that can be used for equivalent of Ami "scanning". Auto trading is very well supported MT4 with only caveat is that broker end has to support auto orders.

Personally, what I like best of Ami is attaching N number of charts to one scrip. Auto trading in Ami is an add-on which is why it requires a separate trade terminal such as NOW or NEST etc....
 

mastermind007

Well-Known Member
#7
Can anybody advise me for free technical analysis software or website on real time qoute in India market (Equity)
Who is your broker? 99% of brokers provide this for free. For Custom s/w , you will have to organize data providers. Only free s/w that manages its own data is Aptistock but it is EOD not RT.
 

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