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PowerScan?
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Created: by TonyB Attachments:1

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PowerScan?

  #21 (permalink)
Market Wizard
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Amiuser View Post
This is a statement that is built on opinion because you are a MS user but it is not true in the slightest.

This is a quote of Mr. Janeczko of 2009
Just because AB is very flexible and is offering a MS plugin and can handle Metastock data files doesn't mean it's a copy of MS. In fact MS is a dinosaur (IMHO) and development is really slow. On the other side development of AB (in conjunction with including user suggestions) is lightning fast just like the speed of the program itself. Also AB has offered 64-bit version as world's first vendor. Please correct me when did MS offer 64-bit version? Does it even provide one in the meantime? On a side note Multicharts is still cleaning bugs of their 64 bit beta that was introduced 6 years after that date in 2012. Another point and as far as I know MS API has an extra fee whereas AB API (32-bit, 64-bit) to program in C/C++ is offered for free.
I would also like to know and if you could explain in more detail what makes MS scanner better than anything on the market. Please explain maybe by using an example. Thank you!

@Amiuser,

My statement is quite true, there were more imitations of MS than just AB. I will be the first to admit that MS is outdated and has not kept up with technology and just because of that I have not upgraded since 4 years ago, after using it for stock analysis since DOS version 1 in 1981. But, if you have used any trading software at all for a length of time you can see for yourself by comparing the early version of the AB to MS the AB attempt to use very similar language. Not only AB but the original Tradestation (easy Language - developed by Bill Cruz) , OmniTrader, Telechart, and quite a few others started many years ago (80-90s) attempted to follow MS structure and approach. Sadly, since MS was sold to Thompson Reuters no real changes have been made, just adding more crappy plug-ins.

I would not be surprised about what Janeczko said only 2 years ago. Remember, AB started long before 2009 and I actually used it for a couple of years, but the program had limited capability and I also had data issues, so I gave up on it.

I have used almost every software (Stocks, Futures, Options, Forex, AI, etc.) for retail customer developed since mid-70 and I can tell you to this date have not seen a single software out there that performs screening and back testing any easier and more accurately (for 1000s of equities and any indicators in one run) than MS, despite the fact that it is way behind technology and the fancy features offered by the kinds of Ninjatrader.

All said, don't take me wrong AB is a nice and inexpensive package for what it offers, but despite being around all these years it has never won the top honor in the annual TASC magazine polls, though this year made a finalist for software under $500 (the reason, I suspect).

Cheers!


Last edited by aligator; March 11th, 2012 at 09:55 PM.
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  #22 (permalink)
Trading Apprentice
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TonyB View Post
Do you know if any of these free sources such as Yahoo!, Google or MSN also include broad market data, such as number of NYSE / NASDAQ andvancers / decliners and the number of new highs / lows (NYSE / NASDAQ)? Advance / decline data is used to compute the McClellan Oscillator, which I use on some charts... So I don't have to pester you with such questions, if you know where one can look to see the full extent of the data provided by these sources, please share.

Thanks again.

I don't know whether they are offering them. But you can code it yourself. Will post example later.

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  #23 (permalink)
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aligator View Post
@Amiuser,

My statement is quite true, there were more imitations of MS than just AB. I will be the first to admit that MS is outdated and has not kept up with technology and just because of that I have not upgraded since 4 years ago, after using it for stock analysis since DOS version 1 in 1981. But, if you have used any trading software at all for a length of time you can see for yourself by comparing the early version of the AB to MS the AB attempt to use very similar language. Not only AB but the original Tradestation (easy Language - developed by Bill Cruz) , OmniTrader, Telechart, and quite a few others started many years ago (80-90s) attempted to follow MS structure and approach. Sadly, since MS was sold to Thompson Reuters no real changes have been made, just adding more crappy plug-ins.

I would not be surprised about what Janeczko said only 2 years ago. Remember, AB started long before 2009 and I actually used it for a couple of years, but the program had limited capability and I also had data issues, so I gave up on it.

I have used almost every software (Stocks, Futures, Options, Forex, AI, etc.) for retail customer developed since mid-70 and I can tell you to this date have not seen a single software out there that performs screening and back testing any easier and more accurately (for 1000s of equities and any indicators in one run) than MS, despite the fact that it is way behind technology and the fancy features offered by the kinds of Ninjatrader.

All said, don't take me wrong AB is a nice and inexpensive package for what it offers, but despite being around all these years it has never won the top honor in the annual TASC magazine polls, though this year made a finalist for software under $500 (the reason, I suspect).

Cheers!

AB has no limited capabilities. I don't compare a software of 2001 to a software of 2012. And whatever data issues from a data vendor you once had is not my problem. No offence. But be rest assured that AB beats MS in any scan, exploration and backtest competition.

Regarding TASC, if that is how you wanna compare software I'm saying to you that I don't give a damn about awards. They don't mean anything. The more you pay and advertise the more awards you can get. Look at the Emmys. A show like "The Wire" that is acclaimed to be one of the best shows ever hasn't won any of them. So take your awards and put some flowers around them to give them more life. A good software doesn't need awards. A good software speaks for itself. Me rather thinks other software vendors are in fear of AB because of its higher power at much lower price.

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  #24 (permalink)
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TonyB View Post
Thanks for the clarification. I see that AmiQuote is sold separately, making me think that it is not exactly required; and what you explain makes sense. I just looked at DataDownloader, and that looks really neat.

Do you know if any of these free sources such as Yahoo!, Google or MSN also include broad market data, such as number of NYSE / NASDAQ andvancers / decliners and the number of new highs / lows (NYSE / NASDAQ)? Advance / decline data is used to compute the McClellan Oscillator, which I use on some charts... So I don't have to pester you with such questions, if you know where one can look to see the full extent of the data provided by these sources, please share.

Thanks again.

Here is the code example I was talking about McCLellan Code Example Copy&paste it to the AB editor.

I was just doing a test creating an index using 6000 NYSE stocks. The whole AddToComposite operation took 13 seconds. McClellan Oscillator

If you wanna create it using S&P500 stocks just create a watchlist or put those stocks in a group and then in Auto Analysis use filter setting to include just that group or watchlist. Use 'All quotes' the first time and press 'Scan'. For updating use the other available options of 'Range' setting like 'From-to', 'Recent bars' or 'Recent days'

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  #25 (permalink)
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The code of the previous post uses Volume to create the index. So if you wanna use Close then simply change composite setting from "V" to "C". Here it is McClellan version 2

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  #26 (permalink)
Trading Apprentice
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And here is an example for esignal feed provided by T.J. in 2003 #3577641 - Pastie

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  #27 (permalink)
Go Bears!
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Thanks Amiuser for the feedback and examples. I'll look at them in more detail after my work day...

I am looking for such to show-up as a study or indicator below the chart, like where one would see things like RSI, MACD, etc...

Here's a quick capture, and how it looks in TOS.

Attached Thumbnails
PowerScan?-mo-example.jpg  
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  #28 (permalink)
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Yes, that's what the examples are doing.

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  #29 (permalink)
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Amiuser View Post
Here is the code example I was talking about McCLellan Code Example Copy&paste it to the AB editor.

I was just doing a test creating an index using 6000 NYSE stocks. The whole AddToComposite operation took 13 seconds. McClellan Oscillator

If you wanna create it using S&P500 stocks just create a watchlist or put those stocks in a group and then in Auto Analysis use filter setting to include just that group or watchlist. Use 'All quotes' the first time and press 'Scan'. For updating use the other available options of 'Range' setting like 'From-to', 'Recent bars' or 'Recent days'

Amazing how little code is needed to pull that off. Since I have the trial version, I need to download the NYSE data each time I open it, so I'll give it a go when I open AB later this evening. Again, this should work with something like Yahoo! data, right?

Thank you .

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  #30 (permalink)
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The quoted code works with any data. Also version 2. The third one is for esignal

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