I'm thinking about buying a copy of some stock charting/scanning software to find stocks and look at a number of indicators in one glance. I've narrowed it down to two, which are Metastock End-of-Day, and ExtremeCharts (by the BetterTrades.com trading school).
What are the advantages and disadvantages of each? I need for the program to do:
-Find stocks breaking out of consolidation patterns on increasing volume
-Be able to narrow it down to certain prices and indicator values (for example, NASDAQ stocks between $1 and $3 with >100,000 average daily volume, +DI>-DI, and ADX>25)
-Set other time-values for indicators (like MACD 8, 16, 6 for example)
-Display a big candlestick chart with all indicators below it (BB and EMA's overlayed)
-Save charts with trendlines and support/resistance lines drawn on them
Also, do I have to pay any monthly cost just to get end-of-day data? I'm not interested in intraday.
Thanks,
Leaira
Because of price constraints, I installed the "free" copy of Telechart Gold ( www.wordens.com). When you have them send the softwre on cd's they will also send a 2cd set of training video's which are fantastic to get you up and going. The site is packed full of helpful video's and customer support people are at your fingertips at all times.
The data for "all" the programs you consider will cost you. Usually $29 for end of day data. With TC you can update the software throughout the day manually. Not having to wait for e.o.day data in the evening. Later, when we get rich TC can be easily be updated for live data feed which is still much less expensive I think.
Metastock is the king of them all, but TeleChart is a close runner-up.
Tirebldr,
I think I'll have the Colombian coffee and a Cohiba along with my charting program. LOL
Think you mightr have pasted the wrong link. ;) I'll google it, thanks.
Haven't seen you posting as much lately, hope all is well.
http://www.worden.com/
My apologies. One s to many.
Metastock End-of-Day 9.0 data is 24.95 monthly,,
Stockfetcher is great end of day charting for like 8 bucks a month you can set various indicators
www.stockfetcher.com