Hi Traderji, Gurus and the General Public,
I am an active reader of this forum. Three cheers and salutes to all those who had spent their valuable time to expand this knowledge bank.
I am in the market for a good technical analysis platform for individual trading. I have tried a lot of them and have gotten thoroughly confused. Hence, I seek your valuable option before I take the plunge.
My Needs -
1. Error free tick data - NSE cash and FnO
2. Market composites - Advance/ Declines, Index Volumes, Market wide Volumes tec.
3. Clean categorized EOD data (Not essential as long as Soumya_b or Hemen's Getbhavcopy is there)
4. All popular indicators and ability to code one's own indicators
5. System for generating rule based buy/sell signals
6. Backtesting and optimization
7. Extra weightage for popular softwares which has great deal of online support (Forums like this)
So far I have tried out the following softwares. i am listing down my observation which will frther clarify the way I am going to use my platform and my general preferences.
1. Amibroker -
Bset Software - has all facilities. Whatever isn't there, code is available at Traderji.
Cost is also reasonable ~ 13K odd. But the real pain is data feed.
I have tried MDP which was ok till they have started the infinite loop of upgrading. Now it's completely worthless. My RT4 (exploration mode for all symbols simaultaneous data) for 2000 Rs. per month expired today and I shall never renew it.
TDI depends of Yahoo which is anyway available freely using ManshiRT.
Both ManshiRT and Quote Tracker plugin gives 1 min base interval, no tick data.
ESignal is way too costly.
I would buy Amibroker if there was a good and reasonably priced data feed available.
2. Metastock -
Except for backtesting and optimization, everything else is avvailable featurewise.
Support at Tradeji is lesser than amibroker, but good nevertheless.
For data only option is Viratech Stocksup Day Trader. It costs about 45k per year and comes with free metastock pro version 9. But it gives data for only NSE50 and NIFTY Junior scrips, current month stock futures and two months NiFTY/ Bank NIFTY. For the price this is kind of less.
Don't know if data is bad, haven't tried.
3. AdvancedGet - don't know much about this one except for that it's prohibitatively costly.
4. Falcon - This is a good compromise. I am currently using a demo of falcon.
Pros -
a) Data is flawless
b) Excellent collections of marketwide composite data
c) Two great utilities -
action watch for filteriong stcoks making days. 52wks high/low, large volume trades etc. and,
tick watch - for rule based live filtering of stocks (have coded the Dhiraj's 2652 with great pain, but it's possible). Only price/volume based filtering though, no indicators available for this utility.
d)Support is good (atleast in the demo period
)
e) HUGE value proposition - 19K odd for 6 months of software+NSE cash and Fno data+ 5 years of EOD
Cons -
a) Indicator collection is extremely limited
b) No facility for coding one's own indicator
c) No system for rule based buy/sell signals
d) Ofcourse no backtesting etc
e) there is an utility called pattern search which searched the market for stocks satisfying specified rules, but the function collection for use in this utility is very limited
f)No facility to plot functions of indicators - like one can plot ADX, but cannot plot a 5Bar EMA of ADX
5. Spider IRIS -
Haven't tried it yet, so can't tell softwares capacities. I feel it'll be more or less similar to falcon.
Data is only NSE Cash, no FnO.
Value proposition is bad compared to falcon - about 60K for a year, only NSE Cash.
Dear Gurus,
Please suggest me something which will cater to my needs. I am as such not averse to any particular price point, unless one time expenditure is not above 25-30K or monthly recurring is not above 5-6K. As such I am ready to flex these limits if the value proposition is good.
Please Help!
I am an active reader of this forum. Three cheers and salutes to all those who had spent their valuable time to expand this knowledge bank.
I am in the market for a good technical analysis platform for individual trading. I have tried a lot of them and have gotten thoroughly confused. Hence, I seek your valuable option before I take the plunge.
My Needs -
1. Error free tick data - NSE cash and FnO
2. Market composites - Advance/ Declines, Index Volumes, Market wide Volumes tec.
3. Clean categorized EOD data (Not essential as long as Soumya_b or Hemen's Getbhavcopy is there)
4. All popular indicators and ability to code one's own indicators
5. System for generating rule based buy/sell signals
6. Backtesting and optimization
7. Extra weightage for popular softwares which has great deal of online support (Forums like this)
So far I have tried out the following softwares. i am listing down my observation which will frther clarify the way I am going to use my platform and my general preferences.
1. Amibroker -
Bset Software - has all facilities. Whatever isn't there, code is available at Traderji.
Cost is also reasonable ~ 13K odd. But the real pain is data feed.
I have tried MDP which was ok till they have started the infinite loop of upgrading. Now it's completely worthless. My RT4 (exploration mode for all symbols simaultaneous data) for 2000 Rs. per month expired today and I shall never renew it.
TDI depends of Yahoo which is anyway available freely using ManshiRT.
Both ManshiRT and Quote Tracker plugin gives 1 min base interval, no tick data.
ESignal is way too costly.
I would buy Amibroker if there was a good and reasonably priced data feed available.
2. Metastock -
Except for backtesting and optimization, everything else is avvailable featurewise.
Support at Tradeji is lesser than amibroker, but good nevertheless.
For data only option is Viratech Stocksup Day Trader. It costs about 45k per year and comes with free metastock pro version 9. But it gives data for only NSE50 and NIFTY Junior scrips, current month stock futures and two months NiFTY/ Bank NIFTY. For the price this is kind of less.
Don't know if data is bad, haven't tried.
3. AdvancedGet - don't know much about this one except for that it's prohibitatively costly.
4. Falcon - This is a good compromise. I am currently using a demo of falcon.
Pros -
a) Data is flawless
b) Excellent collections of marketwide composite data
c) Two great utilities -
action watch for filteriong stcoks making days. 52wks high/low, large volume trades etc. and,
tick watch - for rule based live filtering of stocks (have coded the Dhiraj's 2652 with great pain, but it's possible). Only price/volume based filtering though, no indicators available for this utility.
d)Support is good (atleast in the demo period
)e) HUGE value proposition - 19K odd for 6 months of software+NSE cash and Fno data+ 5 years of EOD
Cons -
a) Indicator collection is extremely limited
b) No facility for coding one's own indicator
c) No system for rule based buy/sell signals
d) Ofcourse no backtesting etc
e) there is an utility called pattern search which searched the market for stocks satisfying specified rules, but the function collection for use in this utility is very limited
f)No facility to plot functions of indicators - like one can plot ADX, but cannot plot a 5Bar EMA of ADX
5. Spider IRIS -
Haven't tried it yet, so can't tell softwares capacities. I feel it'll be more or less similar to falcon.
Data is only NSE Cash, no FnO.
Value proposition is bad compared to falcon - about 60K for a year, only NSE Cash.
Dear Gurus,
Please suggest me something which will cater to my needs. I am as such not averse to any particular price point, unless one time expenditure is not above 25-30K or monthly recurring is not above 5-6K. As such I am ready to flex these limits if the value proposition is good.
Please Help!