Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Yakalfer

Software to Screen Forex Market

Recommended Posts

Hi,

 

I am looking for a software solution to scan the forex market based on configurable conditions ... Ex: combination of moving averages, MACD, etc. ...

 

What is the best solution ?

 

I believe that TS did that, but perhaps there is a better choice?

 

Thanks in advance !

Share this post


Link to post
Share on other sites

I believe MetaTrader 4 is a popular FX platform that would do what you want. Ninja could also do it. I'm not sure, but I would guess that Multicharts could too, and so could many many other popular platforms.

 

http://www.metatrader4.com/

http://www.ninjatrader.com/webnew/index.htm

http://www.tssupport.com/multicharts/

 

Platform reviews at ET: http://www.elitetrader.com/so/

Share this post


Link to post
Share on other sites

I use Metatrader for graphics, but it seems to me that MT4 doesn't automatically scan all the forex pairs in all the time units..??...

I know that TS offers this feature, but I'd like to know if there is an alternative choice...

Share this post


Link to post
Share on other sites

As I mentioned, NinjaTrader will do that for you, unless I'm misunderstanding your question. I don't know if it's a better option than TS though, since I've never used TS before. Ninja is free though if you just want to use it for charting, so you should check it out.

 

And are you sure MT4 won't do what you want? I thought it could...but maybe I don't understand what you're asking.

Share this post


Link to post
Share on other sites

I'm looking for a software solution like : Real Time Market Scanner, Price Scan, Scanning Software

But for forex market...

I'd like to get real-time all trading opportunities identified on different time frames and different currency pairs, depending on parameters such as intersection of averages, MACD levels, etc ..

And I don't know if ninja trader can do that ???

Could you confirm ??

Share this post


Link to post
Share on other sites

Ninja does have a feature similar to that, but I'm not sure if it will do exactly the same thing and work in exactly the same way. It is free though, so you can check it out for yourself.

Share this post


Link to post
Share on other sites

ok, thank you for this answer !

It looks like corresponding to my needs.

I was hoping to find a solution that can be fully tested without needing to open an account ... (eg Metatrader).

But if I open an account, then what are the points that should make me choose NinjaTrader rather than MultiCharts ..??..

Share this post


Link to post
Share on other sites

But if I open an account, then what are the points that should make me choose NinjaTrader rather than MultiCharts ..??..

 

You should look which one meet your requirements the closest.

Share this post


Link to post
Share on other sites

In order to trade you do need data, but you can't get a data feed through Ninja. I linked to a page on the Ninja website that listed compatible data feeds, so you should check that out.

Share this post


Link to post
Share on other sites

You will need to open a demo account with one of the brokers to get data. As far as I know MBT (the only one to offer spot FX) don't offer NT demo accounts. Interactive Brokers might do you too as they offer spot FX too.

 

Mind you I wasn't aware NT has a decent scanner (not having a requirement for one). Shows how much I know! Looks like there market analyser will do the job for you if you can get the data.

Share this post


Link to post
Share on other sites

Thanks BlowFish for these information !

I have check the market analyser and I confirm that it's exactly what I need.

I do not know if it is possible to open a demo account with IB, but I still have not found ...

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • I'm pretty sure that a Russian resident would say that recessions are real today. Their prime interest rate is 21%, their corporate military contractors are threatening to file bankruptcy, and sticks of butter are kept under lock and key in their grocery stores because shoplifters are stealing it in bulk so they can resell it on the black market. A downturn is cyclical until it turns into a collapse. I really don't think anyone will be buying-into this mess.😬
    • Well said. This principle is highly analogous to trading. Any human can easily click buy or sell when they "feel" that price is about to go up or down. The problem with feeling, commonly referred to as "instinctive" trading, is that it cannot be quantified. And because it cannot be quantified, it cannot be empirically tested. Instinctive trading has the lowest barrier to entry and therefore returns the lowest reward. As this is true for most things in life, this comes as no surprise. Unfortunately, the lowest barrier to entry is attractive to new traders for obvious reasons. This actually applied to me decades ago.🤭   It's only human nature to seek the highest amount of reward in exchange for the lowest amount of work. In fact, I often say that there is massive gray area between efficiency and laziness. Fortunately, losing for a living inspired me to investigate the work of Wall Street quants who refer to us as "fishfood" or "cannonfodder." Although I knew that we as retail traders cannot exploit execution rebates or queues like quants do, I learned that we can engage in automated scalp, swing, and trend trading. The thermonuclear caveat here, is that I had no idea how to write code (or program) trading algorithms. So I gravitated toward interface-based algorithm builders that required no coding knowledge (see human nature, aforementioned). In retrospect, I should never have traded code written by builder software because it's buggy and inefficient. However, my paid subscription to the builder software allowed me to view the underlying source code of the generated trading algo--which was written in MQL language. Due to a lack of customization in the builder software, I inevitably found myself editing the code. This led me to coding research which, in turn, led me to abandoning the builder software and coding custom algo's from scratch. Fast forward to the present, I can now code several trading strategies per day across 2 different platforms. Considering how inefficient manual backtesting is, coding is a huge advantage. When a new trading concept hits me, I can write the algo, backtest it, and optimize it within an hour or so--across multiple exchanges and symbols, and cycle through hundreds of different settings for each input. And then I get pages upon pages of performance metrics with the best settings pre-highlighted. Having said all of this, I am by no means an advanced programmer. IMHO, advanced programmers write API gateways, construct their own custom trading platforms, use high end computers with field programmable gateway array chips, and set up shop in close proximity to the exchanges. In any event, a considerable amount of work is required just to get toward the top of the "fishfood"/"cannonfodder" pool. Another advantage of coding is that it forces me to write trade entry and exit conditions (triggers) in black & white, thereby causing me to think microscopically about my precise trade trigger conditions. For example, I have to decide whether the algo should track the slope, angle, and level of each bar price and indicator to be used. Typing a hard number like 50 degrees of angle into code is a lot different than merely looking at a chart myself and saying, that's close enough.  Code doesn't acknowledge "maybe" nor "feelings." Either the math (code) works (is profitable) or doesn't work (is a loser). It doesn't get angry, sad, nor overly optimistic. And it can trade virtually 24 hours per day, 5 days per week. If you learn to code, you'll eventually reach a point where coding an algo that trades as you intended provides its own sense of accomplishment. Soon after, making money in the market merely becomes a side effect of your new job--coding. This is how I compete, at least for now, in this wide world of trading. I highly recommend it.  
    • VRA Vera Bradley stock watch, pull back to 5.08 support area at https://stockconsultant.com/?VRA
    • MU Micron stock watch, pull back to 102.83 gap support area with high trade quality at https://stockconsultant.com/?MU
    • ACLX Arcellx stock watch, trending at 84.6 support area with bullish indicators at https://stockconsultant.com/?ACLX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.