The TrendSpider team is innovating at breakneck speed, and the features they are innovating are unique to the industry with trendline automation, pattern recognition, and multi-timeframe analysis. The Premium plan has multi-time-frame analysis and trendline pattern recognition for stocks, ETFs, currencies, and OTC markets, plus 25 alerts. The Elite Trader Plan includes after-hours and pre-market data, OTC, Crypto, Forex, and Futures, plus dynamic alerts and full backtesting, meaning you can apply the auto trendlines and multi time-frame analysis on many different markets.
The system runs on all platforms, from smartphones to PCs. Packed full of innovative technical analysis tools means that TrendSpider is catapulted to the top of this list. If you are a serious market analyst, then TrendSpider will help you do the job quicker, with better quality, and help you not to miss an opportunity.
The automated trendline detection and plotting do a better job than a human can; using algorithms, the system can detect thousands of trends-lines and flag the most important ones with the highest backtested probability of success.
Another great feature is the advanced plotting of support and resistance lines into a subtlely integrated chart heatmap. The latest innovation from the TrendSpider team is the market scanner, which enables you to scan a specific stock and the entire market for trades matching your technical criteria.
Combining AI trend detection and analysis with scanning the whole stock market is a unique advantage. TrendSpider takes a different approach to backtesting.
The platform is built from the ground up to detect trendlines and Fibonacci patterns automatically, meaning it already has backtesting built into the code. The highest probability trendlines are automatically flagged, and you can adjust the sensitivity of the algorithm that controls the detection to show more or fewer lines. TrendSpider has also implemented a strategy tester that allows you to type what you want to test freely, and it will do the coding for you.
It is a smooth and straightforward implementation. You can jump into coding if you want to, but the key here is that you do not HAVE to. Integrated backtesting of automated trendlines, showing win-rate, profitability, and drawdown is a new addition and warmly welcome; the team has propelled TrendSpider into one of the leading technical analysis packages in the industry.
For example, seeing hourly, daily, weekly trend lines plotted on the same chart might be confusing at first. Still, after applying a little effort, you might find you cannot live without them—an excellent score on usability.
Yes, TrendSpider is worth buying if you are a stock trader who wants to utilize cutting-edge automation for technical stock chart analysis. The automated pattern recognition of trendlines, Fibonacci, and candlesticks, plus backtesting, make it a compelling proposition. MetaStock is best for stock traders who need real-time news, access to a huge stock systems marketplace, and the best technical stock chart analysis, backtesting, and forecasting. Special Deal: 3 Months for the Price of 1.
The latest release of Metastock is a big hit with improvements across the board. Considerable advances in scanning, backtesting, and forecasting make this one of the best offerings on the market. MetaStock is designed as a broker agnostic technical analysis platform. It does provide limited broker integration, but the execution of trades from charts and live integrated profit and loss analysis of your live portfolio is limited.
Excellent watchlists featuring company financials and powerful scanning of the markets make MetaStock unique. Refinitiv is the fastest global news service available in the industry. For international investors, MetaStock is unique because the news is also translated into all major languages. MetaStock has over stock tools for charting, annotation, drawing trendlines and indicators; the broadest selection of technical analysis tools on the market today.
Innovative additions to MetaStock, like Foreign Exchange forecasting based on market sentiment, are exceptional. This makes MetaStock our recommendation for the best technical chart analysis software.
This is a unique differentiator from the competition. The most significant addition to the MetaStock arsenal is the forecasting functionality, which sets it apart from the crowd. MetaStock has over computerized stock market systems called Expert Advisors. The Expert Advisor systems, either in-built or as 3rd part add-ons, will help you understand and profit from technical analysis patterns in price and volume. You can even use artificial intelligence-like functionality to test a set of variables within your backtesting.
Fuzzy logic is an incredibly powerful feature that is often overlooked with MetaStock. The most significant MetaStock innovation is the forecasting functionality, which does not exist with any other software. You are then presented with an interactive report which enables you to scan through the many predictive recognizers, which help you understand the basis for the prediction and the methodology. No, MetaStock is not easy to use because it feels like a collection of separately developed applications that require user education to make them work together.
TC has an integrated brokerage, meaning you can trade stocks and options directly from charts. Get TC Free. TC has long been one of my favorite tools; I have been a subscriber for over 20 years and find the latest release another step forward. Endlessly customizable and scalable, the platform offers nearly everything a trader will need. TC is a slick and powerful technical analysis platform, enabling entire US market scanning and screening for fundamentals and technical analysis.
You can use the huge library of available indicators and create your custom indicators and conditions without coding. The service is available for free so that you can try it out. TC is one of the best Stock Options analysis software programs, allowing you to scan and build options strategies seamlessly. You can scan on gamma, delta, expiration, options spread, and even short interest. If you want fundamentals screened in real-time layered with technical screens integrated into live watch lists connected to your charts, TC is a power player.
TC Easyscan can be set up with a few clicks, and you do not need any coding experience. If you want social community and integrated news, you will need to roll back to TC v With over 70 different indicators, you will have plenty to play with.
They have also introduced live alerts that you can configure to email or pop up if an indicator or trend line is breached; very useful indeed. If you want to perform powerful backtesting, then TC is not for you. You may be able to utilize the add-on product called StockFinder if you are a Platinum Member, and you specifically call support to ask for it. However, StockFinder is no longer in active development, which is a shame because I think it was a very good backtesting suite.
Yes, TC is incredibly easy to use, which masks the power of the software. You will be up and running quickly and feel productive in minutes. TC also has a support desk located in the USA and is one of the few vendors you can call by phone and speak with a real person.
Visit Optuma. Optuma is a technical analysis stock charting tool created by Mathew Verdouw, a leading technical analyst. Optuma is developed for professional technical analysts in financial institutions but is also available to retail investors.
Optuma is at the top end when it comes to price. Optuma is squarely aimed at professional traders and wealth managers, as you can see from the price. Their clients are tier one Wall Street investment houses. But you can still take advantage of their first-class solution. If you have a Bloomberg feed already established, this also offers a new world of data and fundamental analytics. This slick integration of fundamentals into the charting and analysis means this is a significant improvement over a Bloomberg terminal and warrants it as a clear leader in this space.
You can build watchlists with fundamental data, and everything operates in real-time; advanced scanning includes an excellent 3-dimensional sector map. To top it off, they have also implemented an excellent astrological analysis suite as an upgrade for those who believe in that sort of thing; yes, commodity traders, I am talking about you :. Optuma has backtesting well covered also, with a well-implemented backtesting and system analysis toolset, which is up there with the industry leaders.
Still, unlike the others, you do not need a Ph. The advanced programming language that connects all of Optuma is simple to use, and there are many detailed and helpful videos available to teach yourself. The code runs lightning-fast, and you can scan entire markets quickly and effectively.
So the quality of the testing tools is first class. Scanz is for day traders, who want a super simple and slick workflow, real-time streaming charts, news, unique Level II data, dollar volume information, and excellent broker integration.
Visit Scanz. However, with the advent of TradingView , the largest trading community platform Scanz has fierce competition. Scanz specializes in providing real-time data and news fast directly to your screen.
The deal news section in Scanz is very good; I like the simple implementation; you can get the low down on contracts and deals struck between companies. Scanz also focuses on news services, but it is let down by having no social integration. This single window contains a wealth of critical trading information, including real-time streaming news, level 2 data, including time and sales.
The Scanz Team has a fantastic set of integrations to your broker to enable this, including RealTick, Sterling Trader, LightSpeed, and, most importantly, TD Ameritrade and Interactive Brokers, two of the powerhouses of the brokerage world.
So, the chances are your broker of choice already covers you. Scanz contains many fundamental screens and the ability to scan entire markets for liquidity and volume patterns to find volatility that you can trade for a profit. This functionality makes Scanz a unique offering. VectorVest helps simplify market timing by providing buy and sell ratings on stocks in the US, Australia, and Europe.
But beware, some customers complain about data integrity. Visit VectorVest. VectorVest has three tiers of service. The basic service is missing much of the benefits of VectorVest. I would recommend the enhanced service, good for investors, or the Premium for those who want to swing or day trade.
In terms of pricing, Vectorvest is neither expensive nor cheap; it sits in the middle. VectorVest software is straightforward to use because it is designed to promote the Value, Safety, and Timing system. This means they have a minimal variety of stock market indicators; they provide only what is needed to trade within their VST system parameters. VectorVest continually evaluates every stock on the exchanges they cover to provide their propriety ratings.
VectorVest does not have specific features to enable social chat or community within the software. They do, however, provide a weekly market update to subscribers; these are available on youtube. Some customers complain about the cost of the training courses available through VectorVest and the constant focus of VectorVest trying to sell the courses and add-on products. VectorVest has 20 technical indicators and drawing tools, including trendlines, Gann, Fibonacci, moving averages, momentum, RSI, and Stochastics.
You do not need a powerful computer to trade stocks as modern stock software runs in the cloud, relieving the burden of processing from your PC. However, if you run trading software on your PC and process a lot of data locally with software like MetaStock or Optuma, you will need the latest generation of processors.
I do, however, recommend multiple monitor screens for all stock trading. Did you find this review useful, do you agree or disagree, have you found better software to be included in the review? Let us know, leave a comment below, or share it with friends.
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Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Your Money. Personal Finance. Your Practice. Popular Courses. Table of Contents Expand. Defining a Program Strategy.
People Plan the Strategy But Computers Do the Work. Program Trading Is Everywhere. Rules, Rules, Rules. Timing Is Key. The Bottom Line. Key Takeaways Program trading refers to the use of computer-generated algorithms to trade a basket of stocks in large volumes and sometimes with great frequency. The algorithms are programmed to run and are monitored by humans, although once running the programs generate the trades, not humans. Program trading strategies may execute thousands of trades a day e.
While very popular, program trading has also been blamed for market failures such as flash crashes. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. The platform allows you to connect to millions of traders from all over the world. But, you can join for free. From proven, prebuilt strategies and indicators to professional consulting for advanced traders who build their own trading scripts, Zen Trading Strategies offers services for algo traders of all skill levels.
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