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MultiCharts PowerLanguage/EasyLanguage full documentation, full reference book, etc?


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MultiCharts PowerLanguage/EasyLanguage full documentation, full reference book, etc?

  #1 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
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Hiya,



I'm looking for the PowerLanguage/EasyLanguage full documentation, full reference book, books, and materials? Everything related to MultiCharts-14(latest version). I don't know where to start and where to read all the materials to get full knowledge about this Algorithmic Trading application as fast and as complete as possible?

I can read man guides and books as long as they are worthy of my time and they are written well and they are useful, but I don't want to use my time to read junk books and guides that have no practical value, nor any performance optimization considered on them.

I want to develop an Algorithmic Trading Robot/App that can be capable of the fastest possible execution lowest possible latency with best of the best memory management and superior performance optimization with MultiCharts-14 and I need professional advice on this? please help?

Note: I may try to learn other Algorithmic Trading language or API or first-class programming languages like Java and develop some application for Algorithmic Trading on them as well, but I need to learn MultiCharts-14 as I'm developing one EA/Robot/application-for-algorithmic-trading in MultiCharts-14 too.


Tnx and best of luck

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  #2 (permalink)
 
FuManChou's Avatar
 FuManChou 
Saint Paul, Minnesota, United States
 
Experience: Beginner
Platform: MultiCharts
Broker: Edge Clear LLC
Trading: MNQ
Posts: 100 since Jun 2019
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If you have not done so already, you can check out MultiCharts Wiki page. Link below.

https://www.multicharts.com/trading-software/index.php/Main_Page

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  #3 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
Thanks Given: 99
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FuManChou View Post
If you have not done so already, you can check out MultiCharts Wiki page. Link below.

https://www.multicharts.com/trading-software/index.php/Main_Page

Hiya @FuManChou



Thanks. Do you mean the Multicharts is the best platform to purchase and will worth 1'997USD?
If I need to develop further in C#, do you know a procedure to merge the signals created by the two platforms MC 14 and MC .net into a single trading Robot?

What about MotiveWave as they are selling platform for 'Purchased License (Includes 1 Year Updates & Support): One-Time Payment of $2295 USD' but there is no update after one year and there may be further costs for updates or further purchases?

May I ask can Robots developed by Multicharts v14 run as StandAlone without a platform but the Multicharts used for monitoring the Candlesticks and price fluctuations if and when needed?


Tnx and best of luck

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  #4 (permalink)
 
Syntax's Avatar
 Syntax 
London, UK
 
Experience: Intermediate
Platform: MultiCharts, MT4, TWS
Broker: IB, Darwinex
Trading: Options, stocks and indices
Posts: 55 since Jul 2020
Thanks Given: 41
Thanks Received: 178


Quoting 
If I need to develop further in C#, do you know a procedure to merge the signals created by the two platforms MC 14 and MC .net into a single trading Robot?

You can't merge the signals. You either stick to PowerLanguage or you stick to .NET


Quoting 
May I ask can Robots developed by Multicharts v14 run as StandAlone without a platform but the Multicharts used for monitoring the Candlesticks and price fluctuations if and when needed?

There are two ways of running MultiCharts algos:

1) You run them on the chart. You open a chart, you attach an algo, that's it.
2) You run them in a portfolio. For that you open portfolio trader, add your symbols, attach an algo, done.

In any case, you will have to have either the MultiCharts platform or the portfolio trader open.

Note that MultiCharts doesn't allow multiple logins. So if you want to run your algos on a server, you'll need two licences.

I would second what @FuManChou said wrt the wiki. I usually find all the information I need in the MultiCharts wiki. It's got pages for every MultiCharts function and keyword.

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  #5 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
Thanks Given: 99
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Syntax View Post
You can't merge the signals. You either stick to PowerLanguage or you stick to .NET



There are two ways of running MultiCharts algos:

1) You run them on the chart. You open a chart, you attach an algo, that's it.
2) You run them in a portfolio. For that you open portfolio trader, add your symbols, attach an algo, done.

In any case, you will have to have either the MultiCharts platform or the portfolio trader open.

Note that MultiCharts doesn't allow multiple logins. So if you want to run your algos on a server, you'll need two licences.

I would second what @FuManChou said wrt the wiki. I usually find all the information I need in the MultiCharts wiki. It's got pages for every MultiCharts function and keyword.


Hiya @Syntax



Thanks. I'm going to purchase this platform as a shortlist for Algorithmic Trading API on IB. Do you believe is the TradeStation or other platforms have a higher analytic capacity than Multicharts v14? or MultiCharts v14 is the highest option?

'In any case, you will have to have either the MultiCharts platform or the portfolio trader open. '> Is this because I can't log in to MultiCharts v14 while the Multicharts-Portfolio trader is open and running?

'Note that MultiCharts doesn't allow multiple logins. So if you want to run your algos on a server, you'll need two licences.'> For now I decided to only have Multicharts on my Laptop to manage all the algorithmic trading in one place?

I want to know about below Algorithmic trading and Chart analysis, please help? May I ask is it possible to implement this in PowerLanguage? And may I ask are you able to write basic instruction on how shall this be done, please?

e.g. I want to calculate the live value of indicators all based on Tick-period(it's required as I need to use them in my Mathematical estimations) and not time-period, how may I do this, please? In the example below calculation of Ichimoku is on 10-tick required, please?
Ichimoku-Hinko-Hyo(Tenkan-Sen line_Period: 10-tick, Kijun-Sen line_Period: 10-tick, Chiou Span_Period: 10-tick, Senkou Span A_Period: 10-tick, Senkou Span B_Period: 10-tick, Chikou Span_Period: 10-tick)


May please elaborate if the platform of Multicharts-v14 is able to draw all the candlestick charts on any Tick-periods? e.g. Draw a chart of the candlestick that have 10-tick candles in real-time and I can use the Ichimoku(10-tick) on my chart, please? How this shall be implemented, please help?


Tnx and best of luck

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  #6 (permalink)
 
Syntax's Avatar
 Syntax 
London, UK
 
Experience: Intermediate
Platform: MultiCharts, MT4, TWS
Broker: IB, Darwinex
Trading: Options, stocks and indices
Posts: 55 since Jul 2020
Thanks Given: 41
Thanks Received: 178


Quoting 
Do you believe is the TradeStation or other platforms have a higher analytic capacity than Multicharts v14? or MultiCharts v14 is the highest option?

Depends on what you need. MC and TS are very comparable.


Quoting 
Is this because I can't log in to MultiCharts v14 while the Multicharts-Portfolio trader is open and running?

Both can run at the same time.


Quoting 
For now I decided to only have Multicharts on my Laptop to manage all the algorithmic trading in one place?

Sounds good


Quoting 
I want to calculate the live value of indicators all based on Tick-period ...
May please elaborate if the platform of Multicharts-v14 is able to draw all the candlestick charts on any Tick-periods?

Yes, you can have realtime charts with a configurable tick period.


Quoting 
How this shall be implemented, please help?

I would recommend that you try the trial version of MultiCharts and consult the documentation in their wiki to get a hang of how MultiCharts works and how to program your indicators and signals.

Good luck

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  #7 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
Thanks Given: 99
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Syntax View Post
Depends on what you need. MC and TS are very comparable.



Both can run at the same time.



Sounds good



Yes, you can have realtime charts with a configurable tick period.



I would recommend that you try the trial version of MultiCharts and consult the documentation in their wiki to get a hang of how MultiCharts works and how to program your indicators and signals.

Good luck



Hiya @Syntax



Thanks. About, 'consult the documentation in their wiki to get a hang of how MultiCharts works and how to program your indicators and signals.' I checked their documentation but there is no direct method to create e.g. Ichimoku(10-tick) as per my knowledge in brief verification of manuals? I emailed them and I wait for an answer? If you are able please could you confirm that if there is a possibility to create this in Algorithmic trading directly without the need to invent the method by programming power if you know what I mean?


Tnx and best of luck

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  #8 (permalink)
artisanpro
montreal, qc, canada
 
Posts: 28 since May 2021
Thanks Given: 28
Thanks Received: 18

Hi,

If I understand your objective correctly i.e. you want to have an "app" that will trade automatically, will be fast and reliable. Humm .... sounds similar to my objective and likely the same for a lot of people.

My approach to achieve this goal is different and similar. I currently use Multichartx64 to fine tune the strategy and test it using MC's automated trading option. MC's functionalities allows me to do quick changes and tests without hassles.

Once, I will be satisfied that my algos and entry / exit rules are profitable I will migrate this to another platform that will use python libraries on a cloud service that connects to my broker thru their "RestAPI". This kind of setup is robust and has low latency because you can always find a cloud service "next" to your broker's servers location.

I looked into the costs of such cloud service many months ago and I found that it went from 'free' to 'high' depending on your needs (space, speed, etc). I was surprised at "free" but my broker has just introduced their "RestAPI" and had recommended a cloud service that they did business with - well something like this.

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  #9 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
Thanks Given: 99
Thanks Received: 17


artisanpro View Post
Hi,

If I understand your objective correctly i.e. you want to have an "app" that will trade automatically, will be fast and reliable. Humm .... sounds similar to my objective and likely the same for a lot of people.

My approach to achieve this goal is different and similar. I currently use Multichartx64 to fine tune the strategy and test it using MC's automated trading option. MC's functionalities allows me to do quick changes and tests without hassles.

Once, I will be satisfied that my algos and entry / exit rules are profitable I will migrate this to another platform that will use python libraries on a cloud service that connects to my broker thru their "RestAPI". This kind of setup is robust and has low latency because you can always find a cloud service "next" to your broker's servers location.

I looked into the costs of such cloud service many months ago and I found that it went from 'free' to 'high' depending on your needs (space, speed, etc). I was surprised at "free" but my broker has just introduced their "RestAPI" and had recommended a cloud service that they did business with - well something like this.


Hiya @artisanpro



Thanks. If Multicharts-v14 is working fine as you mentioned, why don't you trade on the server with Multicharts-v14?
And is the Multicharts-v14 is the best option out there or the MotiveWave-Ultimate can be a better option? These two can have the same options as well? And are these two platforms the best option for the price or there are better options exists?


Tnx and best of luck

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  #10 (permalink)
artisanpro
montreal, qc, canada
 
Posts: 28 since May 2021
Thanks Given: 28
Thanks Received: 18



Blonde View Post
Hiya @artisanpro



Thanks. If Multicharts-v14 is working fine as you mentioned, why don't you trade on the server with Multicharts-v14?
And is the Multicharts-v14 is the best option out there or the MotiveWave-Ultimate can be a better option? These two can have the same options as well? And are these two platforms the best option for the price or there are better options exists?


Tnx and best of luck


Bonjour,

Multicharts-v-14 is stable and works fine and I do trade with it. I have come across Motive Wave once before a long time ago.
I just took a quick glance at their site and here are my a priori thoughts. On the minus side: their software compared to Multicharts is expensive. On the positive side: they have a great offering in terms of trading options and capabilities. In fact, their Ultimate package is superior to Multicharts.

I want to clarify my previous post before going any further.
1. I chose Multicharts because I used to trade with Tradestation and sometime in 2000 they pulled out of Canada (they are back now). I wanted to keep using my custom code so the only feasible option was Multicharts. It is a software that currently serves my needs: I can trade manually or automatically and I can test ideas very quickly because of my proficiency with EasyLanguage.
2. What I wanted to convey is the idea that all trading software that resides on a home computer for fully automated trading are all risky ventures (in my view) since a number of events can generate losses: home computer failure such as reboot, electrical network downtime, internet disconnection, etc. So that is why I was thinking of eventually rewriting my custom code to python and run it from a cloud service.

I haven’t looked yet at the possibility of using Multicharts on the cloud but I suspect that it is possible. I have noticed that MotiveWave offers a “cloud workspace” which eliminates the risk mentioned above. This is a definite plus for automated trading and likely to be a seamless implementation compared to Multicharts. This feature appears to be included in the lease and or support.

My idea to migrating to Python is: it is robust, flexible and allows the use of a large number of math and science code libraries. This way, I would not need a second license since I want to retain the ability on my home computer to test ideas. For me, the major downside of MotiveWave is it’s use of the Java Programming Language to write custom indicators and strategies. Based on what I know and past experience, learning Python would be easier and faster than Java OR I may go for a second Multicharts licence.

I hope that these thoughts will help in your decision process.

edit 1: I just noticed that MotiveWave connects to many brokers but fall short on the number of data feeds UNLESS they implicitly mean brokers and their datafeeds.

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Last Updated on June 29, 2021


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