best charting software - Faval
It offers a simple yet elegant design that is easy to navigate. Along with its rich charting features, traders can access various news and other fundamental data sources. The charting platforms is built on HTML 5 technology providing for an intuitive and visually appealing charting experience. One of the more interesting features within the TradingView platform is the ability for users to publish their charts and setups, and share them across the platform to their followers and other interested users.
Although TradingView is a market neutral charting platform, in that it does not specifically cater to any one single type of market trader, it does have a very large community of Forex traders that use the platform. TradingView offers both a free charting service, along with a paid version which offers additional features.
The premium paid versions will allow you to save many more chart layouts, and access other features such as email and audio alerts. Additionally, unlike many other charting platforms that require their software to be downloaded onto your desktop, TradingView is a web-based charting platform that can be accessed from anywhere, so long as you have a device with internet connection.
Within TradingView, traders can access a broad range of markets including 45 plus worldwide exchanges. Generally, TradingView provides free delayed data on most of the popular exchanges, however, you will be required to pay additional fees for real-time quotes.
Their real-time data fees are fairly priced, and traders have the option of bundling the data services to enjoy a better pricing structure. Tradestation is one of the oldest and most established charting and trading platforms in the market. It is geared more towards experienced traders, particularly those that trade the futures and commodities market.
Within the Tradestation platform, users can access a countless number of technical studies and charting features. Additionally, Tradestation has an advanced back testing engine wherein traders can perform a historical analysis on a particular trading strategy, or a portfolio of strategies. The simulation engine also includes an extensive database of historical data for back testing purposes. For those that are interested in building their own trading system, the Tradestation platform is second to none.
Even if you are not a programmer yourself, you can quickly learn Easy Language or hire an expert Easy Language programmer within their ecosystem to build out your desired mechanical system. Tradestation charting platform offers both a desktop and web-based option. Both come with a rich set of charting features that should meet the needs of even the most discerning technical trader. Options traders can also benefit from the Tradestation platform.
Their option specific trading tool, is known as OptionStation Pro. It includes many advanced analytical tools geared specifically for the advanced Option trader.
Best Free Forex Charts
In addition to these, the Motivewave platform also offers a rich set of features for Elliott Wave analysis, Harmonic pattern analysis, and Hurst cycle analysis. It is one of the few trading platforms in the market that offers all of these technical analysis features wrapped into one charting platform.
Motivewave offers a few different versions that users can choose from depending on their specific needs. Their all-inclusive charting package includes all of the features that they offer within a single module. In addition to the manual drawing tools for Elliott wave analysis, Motivewave also has a built-in algorithm for automating the Elliott wave counting process. Although this feature is not always perfect in terms of labeling the current wave structure, it does provide a great backup to or confirmation of your own Elliott wave analysis.
For those that are new to Elliott wave it can provide for a great learning tool for understanding how impulse and corrective waves form within the price action. In addition to the analytical methodologies noted earlier, Motivewave also boasts a large set of tools for Gann traders. Although the Motivewave platform is quite costly in relation to other charting platforms in the market, it has some very specific uses that cannot be readily found in many of the other charting platforms.
As such, for traders that are interested in Elliott wave, Fibonacci , Harmonic trading, Gann analysis, or Hurst analysis, there is no better charting application available in the market. The cost of the eSignal service is a bit higher than most other charting platforms. Some of these vendor plug-ins include execution-based tools, custom indicators, and technical analysis strategies including Elliott Wave and Market profile to name a few.
In addition to its extensive library of technical studies, traders can also create their own technical trading indicators within the platform. As for viewing the price chart data, there are many different charting options to choose from. For example, traders can pull up the following style of charts — Bar, Candlestick, Heiken Ashi, Point and Figure, Area, Line, Renko, and Histogram, to name a few of the most popular ones.
In addition to this, users can create custom charts based on various securities and also generate charts based on spreads. Stockcharts is an award-winning stock charting platform tailored to the needs of novice to intermediate traders. It is fast becoming one of the most popular go to trading platforms for beginning equity traders.
Stockcharts was created by John Murphy, who is a renowned technical analyst and author. As a Stockcharts member, you will have access to technical commentary from John Murphy on various equities markets. Stockcharts offers both a free and premium version of their software. The free charting version is fairly limited in scope, and as such, it makes more sense for those interested in the platform to sign up for a free trial which provides complete access to all the features within the platform.
Some of the charting features that you will have access to within Stockcharts include PerfCharts, Seasonality charts, Dynamic yield curve charts, and more. Stockcharts is an ideal charting platform for novice traders who are interested in learning more about traditional technical analysis including chart patterns.
The fastest way to follow markets
They have an in-depth educational section with hundreds of lessons on all things related to technical trading and chart analysis. For those users who become a premium member, they will enjoy an enhanced ad-free charting experience, get access to intraday data, have the ability to run technical scans, and view commentary from various experts. Stockcharts offers three different premium membership plans.
This includes the Basic plan, Extra plan, and the Pro plan. Users can decide between a monthly recurring subscription, or an annual subscription plan, which comes with an added discount. Metastock is a leading charting platform for stocks, ETFs , futures, and forex. Metastock is one of the earliest pioneers in technical analysis charting software, and continues to provide cutting-edge solutions for market traders. Along with hundreds of different built-in technical trading and charting features, it also offers a newsfeed and market data service which is powered by Thomson Reuters.
Thomson Reuters is one of the most reputable newswires in the industry.
Technology to improve your trading
Filter Out Bad Trades… Instantly! For advanced traders, TrendLine Trader charting software also comes equipped with 5 unique filters to block potentially bad trades in flat and choppy markets. The 5 filters are:. While these filters can be helpful, you should know that TrendLine Trader can be used with most trading instruments in most time frames right out of the box using only the default settings.
The same is true with the filters. They can aid you when trading certain instruments in certain markets. The page TrendLine Trader manual explains in detail how to use them. No successful trader would think of trading without sophisticated charting software like TrendLine Trader.
It is a necessary tool for any trader who wants to win— and win consistently —in the markets. Just viewing the evolution of a chart with TrendLine Trader will give you an amazingly accurate feel for market dynamics. TrendLine Trader is without equal in its ability to track market trends and spot profitable trades in real time. TrendLine Trader is designed to handle them all. This makes TrendLine Trader unique. It is not specific to any particular trading instrument. It works for any time frame, no matter how short or how long.
Are you beginning to see how valuable TrendLine Trader will be to your trading? Start Making Profitable Trades Today. Note: Please read this chart from bottom to top. The automated stops are indicated by the green and red colored dots, and can be set to tighten and lock in profits once a profit threshold is reached. The Trend Probability Oscillator has no adjustable inputs, so you don't have to worry about changing or optimizing settings.
Take a look at the chart above. The Oscillator has turned red and is increasingly bearish, and the Bias Bar is moving from neutral gray to increasingly deeper shades of red. The chart above was created on the MultiCharts charting platform using the eSignal data feed. Here is a similar signal generated on the NinjaTrader Platform. How the Gap Filter Works. It is especially useful to Swing Traders who hold positions overnight and to Day Traders who are trading choppy markets. In the screen shot above, the Gap down at bar C generates a short trading signal, indicated by the RED arrow.
Each of these filters can be turned on or off at your discretion, and customized for whatever you are trading.