The Killer of MetaTrader, an Ass-kicking Trading Platform

[Guest Tresor]

Guys, I just recently put my hands on PT Multistation: ( Link Deleted by Moderator) and was floored

 

The developers are from Ukraine and they definitely managed to arrive to a concept of a trading platform of my dreams (excepts for the charting which sucks).

 

The concept is simple:

(i) a trading and charting platform that supports many coding languages (EasyLanguage, MQL and C#);

(ii) a platform that you can connect to many data feeds at the same time (from what I was able to grasp from the forum the developers' team adds a new feed within a week from a request by customers - guys are pretty fast;

(iii) a platform that has a growing number of supported brokers (from stocks through forex, options to spread betting); you can place discretionary and automated trades and manage multiple accounts;

(iv) a platform that is freakishly easy customizable (all items are dockable and lockable);

(v) a platform that has Microsoft Office 2007 or 2010 easy interface and navigation;

(vi) a team of developers that is customer-oriented and does not grumble if they have to do something like e.g. add a new broker.

 

I am attaching a few screenshots so that you could get the idea of what this piece of software is capable of. I seriously think that when they improve their charting (hopefully they will reach the quality of MultiCharts), they will become the best trading platform.

 

The application is rather big - it occupies 90 MB of my storage, but this is what one should expect from a piece of software that was written for traders with multiple needs in mind.

 

If only they could improve the charting (bar alignment, trendlines, etc.)....

 

Try their free demo and tell me what you think, if you have time.

 

Regards

Edited February 21, 2011 by Mysticforex

[daedalus 10]

very cool. I have been looking for other platforms out there that are easylanguage compatible... didn't even know about this one.

[Guest Tresor]

It seems that small brokers like OEC or Transact do not know this platform but top brokers start to recognize it, e.g. Rosenthal Collins for forex: ( Link Deleted by Moderator)

Edited February 21, 2011 by Mysticforex

[DugDug 10]

I tried it, it certainly has potential but it was just a personal vibe of the thing that I did not like so I will not persist with it.

While I think it certainly has lots of potential and might revisit it down the track.

[Guest Tresor]

I especially didn't like / hated their chating and drowing tools. Horrible.

[pfsoft_support 10]

Tresor, thanks for starting this thread and your useful feedback about our PT multistation terminal for traders.

 

Actually, we were wondering if you could expand on your couple of negative comments about the "...horrible chatting and drawing tools." It would be great if you could tell us specifically what you did not like about them and why...

 

Thanks again

 

PFSoft Support

[pfsoft_support 10]

DugDug,

 

Thanks for your comments about our PT multistation terminal for traders.

 

I was wondering if you could explain what you mean by "...personal vibe." I mean what exactly was it that you did not like?

 

We value the opinion and input of all our users as we are constantly trying to listen to customers to improve our software, and to innovate to respond to changing market requirements.

 

Also, a BIG THANKS to TradersLab for facilitating useful discussion about or products!

 

Cheers,

 

PFSoft Support

[Guest Tresor]

Actually, we were wondering if you could expand on your couple of negative comments about the "...horrible chatting and drawing tools." It would be great if you could tell us specifically what you did not like about them and why...

 

I would need to get a new demo and make some screeshots to explain I what meant by horrible charting and inconvenient drawing tools.

 

As far as drawing tools are concerned I didn't like the concept of placing them on the chart. I would rather prefer to have them placed on the bar, like in MT4.

 

As far as charting goes make this excercise: draw a trendline - the start of a trendline will be point A, the end will be point B, then create an extention / ray of this trendline in a way that this ray will be crossing a price bar somewhere in future.

 

Then change the resolution from 1 minute to 3 minutes to 1 hour to 4 hours, etc. What you will notice is that point C will vary GREATLY from one resolution to another resolution. E.g. when on 1 minute resolution the ray crossed the price bar at 122, on 5 minute resolution the ray may very well cross the price bar at 132, and on 30 minute resolution the ray may cross the price at 112. You do not know which trendline to trust.

 

This is a result of incorrect bar thickness and / or bar spacing on respective resolutions.

 

MT4 cannot do it properly either, neither JForex can do it properly, nor many other platforms I tried. The only charting software that is acceptable for me in this respect is MC.

[Guest Tresor]

Okay,

 

I made 3 pictures based on MT4 to explain the problem I had with your software. The catch is that the ideal product for me should adjust:

(i) thickness of bars

(ii) spacing between bars

when a trader changes resolution.

 

When the algorithim in a charting platform for (i) and (ii) is incorrect this results in trendlines being untrustworthy.

 

Look at the screenshots (a picture is worth a thousand words) to get the idea of what I am talking about. However, whatever inconveniences I may have experienced while testing your demo platform, I still think you have the best business concept in the world: 1 single platform that supports many data feeds and many brokers at the same time. No other platform does it the way yours does

 

And it was my purpose by starting this thread to show that there are software developers who are capable to think the way a trader does, which I think is a compliment for you guys.

[Guest Tresor]

I just checked 5 minute resolution of the same instrument on MT4. Unlike 15 M it plots trendline below the point indicated with the arrow. One does not know which trendline one should trust.

 

Now you guys can do the same excercise on your platform and introduce changes. If your platform can achieve a much better accuracy than Metatrader (which shoudn't be too difficult given Metatrader inaccuracy), then you will be one step closer to a success.

[DugDug 10]

I looked at the trial - and admittedly fairly briefly over a day or two. For me it was simple I just did not like the feel of it - so it is more a personal vibe than anything else... a bit like apple v PC. It looked like it had a lot of potential - functions, bells and whistles and for those who like beta testing I would say go for it. For me - I have other projects to do in my spare time at present.

[MidKnight 12]

Then change the resolution from 1 minute to 3 minutes to 1 hour to 4 hours, etc. What you will notice is that point C will vary GREATLY from one resolution to another resolution. E.g. when on 1 minute resolution the ray crossed the price bar at 122, on 5 minute resolution the ray may very well cross the price bar at 132, and on 30 minute resolution the ray may cross the price at 112. You do not know which trendline to trust.

 

This is a result of incorrect bar thickness and / or bar spacing on respective resolutions

 

Hi there,

 

Unless I totally misunderstand what you are saying here, the problem you describe has nothing to do with error in the charting package but is a sad fact of trendlines. By changing the interval you are adding / removing bars and that is going to change how your trendline interacts with the bars. It's no error with the charting package, it is just a fact with trendlines and IMHO, really makes trendline concepts flakey.

 

With kind regards,

MK

[BlowFish 10]

I have not looked at this platform (yet). Anything I would look at now would need similar data handling capabilities of NeoTicker (particularly there tick precise technology...very important).

 

Nice bonuses would be ...Easy Language support. Drawing and visualisation of Ensign (it just look so damn pretty). Ninjas chart trader.

[Guest Tresor]

By changing the interval you are adding / removing bars and that is going to change how your trendline interacts with the bars. It's no error with the charting package, it is just a fact with trendlines and IMHO, really makes trendline concepts flakey

 

Adding / removing bars on one hand should be offset / compensated with adequate decreasing / increasing bar spacing and bar thickness.

 

I tested a number of charting packages,some of them can do it with acceptable quality, yet some are disaster.

[pfsoft_support 10]

Tresor,

 

After investigating your interesting (and ass-kicking!) comments, our conclusion is that the logic of how our algorithm works means that what you are describing is not a programming bug, but rather correct functioning of the system (i.e. the way it was designed) so as the be logical and useful.

 

Please see the attached screenshot with 1-minute candles. In this example the line does NOT touch any candle, but if this chart is converted to 15-min intervals then the line will touch the new single candle which will occupy the area of the red box (note in this case, of course, the 15 candles in the red box, will be converted to just one candle when changing the chart period/interval).

 

Note also that this is true for whichever of our 5 line types are used (e.g. freehand):

 

However, we will try to look how MC works, but it would be good if you could explain the logic you think it uses. We would greatly appreciate your further input if you have ideas how it would be possible to usefully change the logic here…

[Kiwi 16]

As Midknight said, this is really a function of how trendlines function. I don't agree that it makes them flakey - it illustrates one of the reasons that price often respects the zone around a tl, rather than the exact intersection.

 

If you try to automatically change for time (by aggregating bars to create the higher timeframe connection when lengthening the timeframe) you need to consider how it will work in the shortening direction as well ... you may need to record the point of contact on short timeframes internally so that when someone lengthens and goes back it looks the same.

[Guest Tresor]

Please see the attached screenshot with 1-minute candles. In this example the line does NOT touch any candle, but if this chart is converted to 15-min intervals then the line will touch the new single candle which will occupy the area of the red box (note in this case, of course, the 15 candles in the red box, will be converted to just one candle when changing the chart period/interval).

 

From my experience with different platforms, no charting software can achieve 100% accuracy. This is probably impossible because if you anchor a trendline to 1M bar on 08.32 then if you change the resolution from 1M to 15M the platform will anchor the same trendline somewhere between 08.30 - 08.45. So no 100% accuracy is achievable on small set of data (like your picture).

 

Some of the platforms I tested however are more accurate on larger data set (''longer distances''), e.g. MC is such a platform that I can trust with regard to trendlines in region of 95%. But I trust MT4 only in region of 40%.

 

My suggestion to you guys would be to load AUDJPY data (the same instrument I used in my previous posts) into your platform and run comparative studies against MT4, MC, Ninja, etc. on the same example as I used.

 

If your programme is better than the above mentioned ones, you might want of course to advertise this: ''our trendlines are most trustable in the business. are better than those in Ninja and MT4'', or something similar.

 

But if your trendlines happen to be less trustable than MT4, Ninja, others, you might not want to advertise this or you might want to improve your trendlines.

 

However, we will try to look how MC works, but it would be good if you could explain the logic you think it uses.

 

Trendlines in MC tend to be the same regardless of the resolution chosen (no 100% accuracy of course). I have no idea what logic MC uses to adjust bar thickness and bar spacing as a trader changes resolution. Whatever these guys did, it works quite well (screenshots attached - whatever resolution I chose, 1M, 2M, 2H, 1D,... the trendline extention shows almost the same point).

 

If I were a developer a charting platform, I would draw multiple trendlines on 1M resolution accross a large time frame (assuming this is the correct one). Then I would switch the resolutions from 1M to 2M to 3M to .... and see if they match. If the don't match, I would correct the bar spacing on the resolution that mismatches (either decrease by 0....000001 of a minute or increase by 0.0....000001 of a minute, to arrive at a solution in which all resolutions have the same trendlines.

 

Nothing else comes to my mind.

 

We would greatly appreciate your further input if you have ideas how it would be possible to usefully change the logic here…

 

Music for my ears. You could implement sheer bar candles the ones that you have in MT4. The ones you have at the moment certainly are candy for eyes: nice rounding, nice shadows - looks like 3D, but personally I like the old fashioned ones that do not distract me from trading.

[pfsoft_support 10]

Thank you again Tresor (and Kiwi) - we really appreciate your detailed explanations so that we can get to the crux of the problem here and hopefully come up with something.

 

We are sure however, that the math logic is correct:

e.g. trendline to 1M bar on 08.32 then if you change the resolution from 1M to 15M the platform will anchor the same trendline somewhere between 08.30 - 08.45. So no 100% accuracy is achievable on small set of data (like your picture).

 

So, if you are not convinced, then could you possibly send us an example of a screenshot, but using OUR CHARTS this time?

 

Also, concerning bars

...candy for eyes: nice rounding, nice shadows - looks like 3D...

, you can turn this functionality off if you want.

 

Thanks again Tresor, and we look forward to your screenshot if you could may be find time again to assist again, but please use our software for it, so we can reproduce it...

[Guest Tresor]

So, if you are not convinced, then could you possibly send us an example of a screenshot, but using OUR CHARTS this time?

 

Sure, will you give me 2nd demo trial?

 

Also, concerning bars , you can turn this functionality off if you want.

 

I didn't know this, I only played around with your software for a few hours and decided it was worth applauding in this forum

[pfsoft_support 10]

Great Tresor! Yes, we can definitely reward you with a 2nd demo account so you can fully test out PTmultistation; please send a request with your details by email for this trial to: support@pfsoft.com.

 

Thanks again for all your hard work in evaluating our software...

[Guest Tresor]

I sent an e-mail. So much happening on forex, I will be able to test the platform earliest during the weekend.

[Guest Tresor]

Guys,

 

I am sorry I will not be able to test your platform. Too much work at my end. Maybe in future when I have more time.

 

At the moment I cannot devote the time that your MultiStation certainly deserves.

 

Regards, and congrats on a good product.

[pfsoft_support 10]

Tresor, thanks for the note, and we'd really like to express our appreciation for all your hard work and comments.

 

We can give you a free demo if/when you do get time to do more testing, it would be great if you continue to post anything you find interesting...

 

You may also be interested in looking at our forum: ProTrader Trading Platform Official Forum

 

Cheers.

[quicksilver03 10]

I really don't like the Office 2007-like ribbon, is it possible to disable it and have a menu-based interface (a la Office 2003) ?

 

Thanks

[pfsoft_support 10]

Hello quicksilver03,

 

Such an option is available in PT multistation. You can minimize the Ribbon menu. This is possible in two ways:

 

1. Click on the small down arrow near the top left corner and then click "Minimize the ribbon".

2. In the next release it will be possible to do this by double clicking on the menu.