Best Charting Systems (Free)

I have programmed a lot of MetaTrader indicators (MetaQuotes Language) and studied a lot of TradeStation (Easy Language) & both User Manuals.

TradeStation is overall superior because all variables are or can be vectors (one value for each chart bar) or arrays, each with all element values implicitely and automatically defined through single statements.

Whereas in MetaQuotes, only OHLC are automatically vectors. Other user vectors can be defined but each vector element must be explicitely defined through a loop structure. The language has a severe and low limit for the total number of statements executed. Since explict definition of vector elements use at least one statement per element per vector, and a typical chart has 8,000 to 15,000 bars, the language limit of executed statements is easily exceeded if too many vectors are defined, and/or the number of bars is large, and/or the complexity of the program requires significantly more than one statement per vector per element.

I programmed several of John Ehler's indicators and filters for MetaTrader. They are fairly heavy on computations that reference intermediate variables for bars as far back as 50 to 60. I found that only about 300 to 1000 bars could be executed without "Loop Overflow." This is adequate for current trading signals, but is inadequate for backtesting.

If anyone has a solution to the MetaQuotes "Loop Overflow" problem, I am very interested.

If anyone wants my technique for minimizing vector storage so as to maximize number of bars computed (array memory management technique), I would be glad to share it.

I have begun programming a trading robot for MetaTrader. Anyone with any experience and tips? the MetaQuotes.net site has a new English MetaQuotes Expert Manual. Previously, nearly the entire site was in Russian.

Sincerely, Paul Y. Shimada

snprr
I am presently using the free netdania charts. I have two desk tops that I follow. One has nine charts of 9 differnt time frames for the EUR/USD, the 2nd I have 6 charts of the 6 major pairs set up in 30 minute times and the single chart I use is a EUR/USD 30 minute as my major working chart. At netdania.com click finance chart and you get one chart. Click trade station and you can build a platform of 9 charts ( whatever you want)You can tile or cascade the charfts. You can memorize as many as you want so they are there as you left them when you come back. Really quite good.
Click heree and you can build a 6 chart platform http://www.dailyfx.com/fxpowerchart/ChartStation.html
As for the daily close, I did not know it was anything other than 5:00pm E.S.T.
slick 60

I would suggest you use Metastock and pay for a data feed. Cheaper than signing up with futuresource.

I am interested in opinions on what are the best web pages to view free technical analysis of the FX Markets. For some time I have been watching www.trl.co.nz/trlfx.html and they are very good but I would like to watch some others. Any ideas ?

Stan (new member )

I would eventually like to be making more than $200 a month through forex, then I wouldn't hesitate to get Trade Station. But my first 2 trades were losers with 5m4x and my 2000 account is down to 1600.

I downloaded a free version of AmiBroker and I'm trying to learn to backtest with this. You can import .cvs data but the problem is where to get good data.

So far I've been able to back test a simple ema cross over system. Yeah! You have to start somewhere. I will play with this for awhile.

Does anyone know where to get good, scrubbed, reliable data?

Scott

Hey Scott

I totally agree with you. Trade Station is the program to get if you want to get serious about forex. When they have automated forex trading facilities, it will be the best.

I have found a site which provides FREE data, but it's not reliable
I downloaded it, loaded it up into metatrader and it was noo good...lol
There are a few sites where you can 'buy' reliable data from. I'll try to find them again and post them later.

Thanks SS,

I am getting serious with Forex, at least trying to learn the psychological end of it with real money.

I hope to make a lot more that $200 a month with Forex but every good (and bad) trader had to start somewhere. Lot's of reading, learning, trying to code and back test systems and methods. Someday............

I decided that I will give the 5m4x system a whirl for 6 months and see how it goes, I hope I get a couple of winners soon to give me a little boost.

I ended finding some free data out of Russia somewhere, but when I loaded it I could tell it wasn't very reliable here is the link

http://www.fin-rus.com/analysis/expo...g_/default.asp

I did come across a site that might be worth checking out. Does anyone have any experience with these guys data?

http://www.is99.com/disktrading/

Thanks,

Scott

Here is another link for data

http://hisbase.com/

Does anyone have any experience with them? I hate to spend good $$$ (is there any bad $$$?) for bad data.

Scott

Hey Scott
That is the site i was referring, i agree with you, its not very reliable.
Im using metatrader and also need some reliable data...if u find a good source, plz post. Thanks

Scott, at http://hisbase.com/ is really good data and not for big $$$

I emailed them and

http://www.is99.com/disktrading/

asking why their data was better than the other.

I think with both you get quarterly updates for a year.

Scott

It seems that many participants in this thread have some knowledge of MetaTrader. However, it seems that most have missed the obvious answer to FREE LIVE DATA feeds that work with MetaTrader. The producers of MetaTrader, namely, MetaQuotes Software Corp., a Russian company, lists many of their clients (users of MetaTrader systems software and servers) on their home page,

http://www.metaquotes.net/profile.htm

Presently, 30 client companies are listed. Many of them offer free demo accounts, good for 15 or 30 days. All MetaTrader demo accounts require a minimal set of data, name, address, EMAIL, etc.--only 1 minute of keyboard. They will email your account number and password within minutes.

Actually, you can have free use of their client software and data feed without a demo account. All you need to do is download a broker's client FX trading station software. Each different broker company that offers free demos has a different server address. That is all you really need in addition to the free software and the broker's server address is built-in when you download from each different broker. Your MetaTrader charts can get live data even without logging into a demo account, as long as you connect to the broker's server.

By the way, out of 30 listed brokers, I have tested free accounts at 3 of them. The quality of the data ranges from very good to very bad, from chart to chart (pair-period), very often for a given broker (not necessarily from broker to broker). We have found the variable data quality includes stop hunting spikes and other artifacts, usually arising from the brokers twiddling the spreads. We have noted that a bad data set (for example, EURUSD H1) may be unusable for several weeks, then suddenly, it appears pristine. For one broker, we noted that their company web site and the MetaTrader software used 3 different sets of prices, often not in agreement.

Despite the wild west approach to data management and brokering, the MetaTrader brokers' data is generally very useful for real-time analysis and signals as well as back testing. However, I would suggest caution (with a touch of fear and loathing) if you consider opening a live account with many of the MetaTrader brokers (Eastern Europe, Russia, Southeast Asia, etc.) not because we know them all to be disreputable or unethical, but it is nearly impossible to check them out as we could check out a US or UK broker (NFA, CTFA, State Attorney, BBB, etc.).

To summarize, if you're looking for a decent free forex trading station client software with nearly 30 built-in indicators and user-selectable parameters, user-programmable indicators, user-programmable functions and programmable trading robot, PLUS free usable live data feeds, MetaTrader is the best I have found, even though it has severe program size restrictions.

If you want the best online trading and analytical software, TradeStation and CMS Visual Trader are the best I have come across, but free data feeds are difficult to find and fit them.

For back testing, I did try the free AmiBroker software, but it has a severe problem in incorrect importing intraday prices; usually the last hour of the day is incorrectly imported. I've tried StockWiz, but the language is too non-standard. I've used MetaStock, but it is clumsy for anything other than simple indicators with only a few lines of code (real programming is not easily implemented); and again, data feed is an issue.

Any other ideas? I'm always looking for something else. I don't use TradeStation because of the monthly software cost or monthly account charge and the terms for trading forex with TradeStation's market maker. [I am still looking for a bulletin board free download of TradeStation 2000i.]

I am waiting for CMS Visual Trader (VT) to mature a bit more; then I might open an account (see forums focusing on VT at MoneyTec). CMS has apparently drastically improved in recent releases.

May the Trend be with you,
Paul Y. Shimada

Hi all...my first post here...been lurking for a few days and I have to say this is a good forum website (my congratulations to the hosts/moderators/administrators) -- better than many out there. Most of all, I've enjoyed Paul Shimada's posts.

Bravo Paul. Best poster I've read on any forum, anywhere. I sincerely hope all the other traders reading your posts realize how fortunate they are in having someone like you to interact with. Your comments on money management alone will save from ruin any who care to read and abide in them. I also hope you stay around for awhile, for my own benefit.

Enough throat clearing.

Everyone, try this out -- www.alpari-idc.com

These guys provide the platform and the feed in one shot. It's a no-brainer.

Those Russians are really making a good splash.

And if you just can't get enough of those crazy Ruskies, and you want some cheap charts ($80 a month or so), then try this -- http://www.xtick.com

Check out their candlestick indicator on the hourly and daily charts and their indicator painting technology...wow.

Anyway, I trade on Oanda's platform and use MT and Oanda charts...demo trading on Xtick charts now and they're fantastic, but not ready for fork out the dough until I'm making more money in FX.

God Bless Russia.

Cheers,

J

If anyone is using or evaluating MetaTrader then there is a good forum at

http://finance.groups.yahoo.com/grou...and_Indicators

with lots of experts and indicators to download and try plus links and articles.

Just register first.

Regards Seadog

Merlin, can you get Tradestation to send you alerts like Prosignal can which I have recently come across? And can you use Tradestation independently of their preferred broker? Thanks

I have had a good look at Meta Traders Programming language, but realise that there still is a lot to learn. You can also look at the CMS forex (Visual trading) dealing desk. GFT's Dealbook 2 newest version will also be programmeable.

Dinamix

Search for "e-signal "charts.are the best available for pros.

Your answering a thread that's 5 years old.

And I thought I'm slow answering anything .........

Forgive the intrusion, but I would like to place some input into this matter.

TradeStation is unrivaled in their platform capabilities, especially the newer 8.5 version with Renko block charting availability. Renko, as many know, virtually eliminates ALL noise for lower TF charting. A 0.3 to 0.5 Renko setup is very easy to look at and can easily enable a trader to accurately identify SOLID support and resistance areas.

Downside to TradeStation is the fact that you must open an account with 5k to be able to access the platform. It is free for the first month. Afterwards, you need to trade 100 mini's or 10 standard lots per month to avoid the $99.95 platform fee.

Have attached a Renko 0.3 setup for comparison to your preferred choice.

Just an opinion.

Thx