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Quick review of Multicharts vs Tradestation
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Created: by moses Attachments:0

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Quick review of Multicharts vs Tradestation

  #21 (permalink)
Elite Member
Nicosia, Cyprus
 
Futures Experience: Intermediate
Platform: Multicharts, Tradestation
Broker/Data: Interactive Brokers, MB Trading, Tradestation for data
Favorite Futures: FX, Equities
 
Posts: 39 since Oct 2012
Thanks: 44 given, 39 received

Hi waverider,

I've not used the Multicharts portfolio trader for years now, I still use Multicharts but I moved to FX trading, so I don't need that functionality. Last time I used it though, it was good and fast.

I have been considering revisiting equities and bulk testing, and I believe MC will be fine for it - if I do it, I'll write my impressions in this thread.

I also don't use Multicharts.net or C# - I find that the simplicity of easylanguage matches a belief I have - the simpler, the better.

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  #22 (permalink)
Elite Member
Norwich, UK
 
Futures Experience: Beginner
Platform: Broker Provided
Broker/Data: Stage5/OEC
Favorite Futures: M6E
 
andby's Avatar
 
Posts: 136 since Jul 2012
Thanks: 79 given, 55 received


ABCTG View Post
They are not affiliated in any way. As far as I know the rumors about some of their guys being former TS programmers are also not true.
In my opinion MC looked at the handling and feel of TS and implemented what they liked into their platform and at the same time closed all the issues that TS had before they introduced OOEL. On top of that you have features build in today that TS doesn't have - like the delta, <<< volume profiling ????>>> and flexibility of choice when it comes to brokers and datafeeds for example.

Also don't forget that the MC guys offered tools for Tradestation long before MC was on the market.

Regards,
ABCTG


MC Volume profiling ---- you're kidding right?
How many times a week are you being asked for custom coding around their (useless) volume profile, which is a joke as it stands right now.
In my humble opinion, Multicharts doesn't even get close to the ivy league with respect to Volume Profile. There's at least 2 or 3 other products that do this better. Now, let me backup my statements:
- Works only on tick data, no minute. This somewhat limits the amount you can see (considering the 3 or so months of tick data IQFeed provides, for example)
- It is sooo inflexible in terms of setting it on a chart - you can only set it up per session or per last N sessions. No other customization possitlbe (NinjaTrader through DiscoTrading, SierraChart, AmiBroker or Investor/RT can do range - mouse drag/drop across tick or minute charts)
- Playback has no integration with Volume Profile. They took a shortcut and developed a "silo" feature.

One other pain point regarding MC's Portfolio Trader. Try and build a strategy on a large number of stocks stocks (past 10 years') on minute data ... it's hardly usable.
I don't believe someone really tested the software in such "corner case" scenarios with most of their data source <officially supported>. That's not to say TS's Maestro is better ... I don't take sides.

Now, don't get me wrong, MC / MC.NET have some good strong points (such as speed, integration with .NET/c#, productivity, seamless integration with some brokers, best playback bar-by-bar out there) I like and I use them now and then for research. However, Volume Profile is NOT one of their strong points. To me, it's just a wissle to lure in new customers.

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  #23 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,410 since Apr 2013
Thanks: 220 given, 801 received
Forum Reputation: Legendary


andby,

I wasn't kidding, I was giving examples of features that MC had and that TS didn't have at that time.
The full quote from two and a half years ago was "On top of that you have features build in today that TS doesn't have - like the delta, volume profiling and flexibility of choice when it comes to brokers and datafeeds for example."

This was not a valuation or a praise of the quality of the implementation it was just a comparison between TS and MC.

Regards,

ABCTG


andby View Post
MC Volume profiling ---- you're kidding right?
How many times a week are you being asked for custom coding around their (useless) volume profile, which is a joke as it stands right now.
In my humble opinion, Multicharts doesn't even get close to the ivy league with respect to Volume Profile. There's at least 2 or 3 other products that do this better. Now, let me backup my statements:
- Works only on tick data, no minute. This somewhat limits the amount you can see (considering the 3 or so months of tick data IQFeed provides, for example)
- It is sooo inflexible in terms of setting it on a chart - you can only set it up per session or per last N sessions. No other customization possitlbe (NinjaTrader through DiscoTrading, SierraChart, AmiBroker or Investor/RT can do range - mouse drag/drop across tick or minute charts)
- Playback has no integration with Volume Profile. They took a shortcut and developed a "silo" feature.

One other pain point regarding MC's Portfolio Trader. Try and build a strategy on a large number of stocks stocks (past 10 years') on minute data ... it's hardly usable.
I don't believe someone really tested the software in such "corner case" scenarios with most of their data source <officially supported>. That's not to say TS's Maestro is better ... I don't take sides.

Now, don't get me wrong, MC / MC.NET have some good strong points (such as speed, integration with .NET/c#, productivity, seamless integration with some brokers, best playback bar-by-bar out there) I like and I use them now and then for research. However, Volume Profile is NOT one of their strong points. To me, it's just a wissle to lure in new customers.


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