- Numerous customizations that do not require custom programming - Conditional alerts, color bars, color backgrounds and colored plots, based upon slope, +/- 0, etc. How many requests for changes to NT indicators on futures.io (formerly BMT) for this?
- MTF support for non-time based charts - Without custom programming, you can quickly overlay anything from any other type of chart and it plots correctly without making your chart look all jacked up.
- Additional overlay options - You can quickly add, divide, multiply, or subtract from any chart/plot from any chart and you can add, subtract, multiply, or divide two charts/plots from any chart and plot the result.
- Native spreadsheet functionality - you can create indicators, alerts, trading systems, and otherwise analyze data using an excel based interface.
- IMO superior, albeit sometimes rude, support staff - They crank out improvements and new features on a continual basis, and fixes for any identified problems are usually completed within days, vs the months or years it takes NT. You just have to have a thick skin and can't be a whiny little mama's boy and start complaining every time they offend you like some people on this forum I don't care to mention.
- Chart dom - With one click you can place stop and limit orders directly on the chart exactly where you want it, IMO negating the need for a separate dom window.
- Superior chart trading - You can see and modify your bracket orders, including quantity, prior to entry. You can also place buy and sell stop orders at the same time.
- Superior atm management - Greater control over targets and stops for multiple units with the ability to create up to 5 subgroups within the same atm with separate order management for each subgroup.
- Semi automated trading - I haven't tried this, but it's my understanding that you can create entries and still have manual control over your exits, and vice versa.
- Cheap - It's only $26 a month ($45 if you want Market Profile features or it's free through Velocity), and commissions are cheaper too because you don't have to pay for NT static dom licensing.
- Historical backfill - They provide backfill if your broker does not, so you can populate range type charts when using brokers like IB and Velocity without purchasing a separate data feed or having to leave your computer on all the time.
- Integrated replay - Can replay from any point on the chart. You don't have to disconnect your live feed, download separate replay data, and reconnect to the separate feed. And the replay function doesn't persistently crash your system.
- Superior Chart linking - Can link by any combination of symbol, bar period, scroll position, or session times.
- Additional setup options - A myriad of additional chart setup options and features not found in NT.
- Free version - Can sim as long as you like until you are ready to trade, a really nice benefit.
- Superior community support - Lack of competent C++ programmers who code for SC, so if you like playing with indi's then you have to go without sometimes, or if you trade with indis then you many have to go through the hassle of getting them converted to SC, and some are are not even available in SC, e.g. rj's and other vendors' stuff.
- Static dom - Not even an option in SC.
- Multiple sim accounts - Can create as many as you like. Only one sim account in SC, so you can't create separate accounts for different strategies, etc.
- Superior session management - Can setup as many sessions as you like for each day of the week, SC has only two sessions for all days of the week.
- Superior handling of Multiple Data Sources - Not exceptional in NT, but clumsy in SC at best.
- Smaller trade management window - Important if desktop real estate is at a premium, and can also be temporarily hidden in NT if desired. Supposedly reworking in SC, but been waiting for this for a while.
I was trying to be fair to both sides and I'm sure there is more, but that's all I can think of right now. Also, I can't speak to the backtesting capabilities of SC vs NT, since I have never backtested in SC.
The following 6 users say Thank You to vegasfoster for this post:
It would be better for discussions about Sierra Chart to not be in this thread, but in their own thread so more people will see it. You might consider starting a "Sierra Chart vs NinjaTrader" thread, for instance.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
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The following user says Thank You to Big Mike for this post:
I have a situation regarding the use of the custom indicators I purchased compatible with ninjatrader. The vendors selling these indicators require a ninjatrader machine id assigned to one's computer in order for it to function. So from what I understand: The same computer= the same id. A different computer= a different id.
When I logged into my account one day I noticed a pop up message stating my purchased indicator liscenses were on a trial period and were about to expire in an 'x' amount of days. I then looked up my machine id and noticed it had changed- Same pc.
I texted ninjatrader's support team about this issue and they told me the id shouldn't have changed on the same pc, unless there was a change in my hardware. I doubt that was the case, because I wasn't prompted to do any updates nor have I done any. In fact, ninjatrader was acting up on me (rife with error messages and slow to no data) just before this change. I informed the support team about it and asked if they could somehow make my platform work with my former id number or at least guarantee that this glitch will not happen again. Their response was, in summary: This is beyond our level of support. We advise you to contact a professional IT tech. So because they refuse fix the problem, I have to e-mail two vendors to issue me another liscense to this new id. One of them is charging me $10. I realize that this isn't much, but that's not the point. If I had purchased more indicators from different sellers, I could have paid a lot more for the replacement liscenses.
I'm glad I found this out before I decided to buy ninjatrader's software. I'm done with ninjatrader. I've washed my hands with them. Does anybody know if Multicharts runs a different operation? Could I buy custom indicators for that platform and have the liscenses be contingent upon the information from my future's account login and/or password, or at least have the peace of mind knowing that I won't have the same problem with ninjatrader? Any input anybody can give is much appreciated- Thanks!
This is not the fault of NinjaTrader. In order for your machine ID to change you must change some of your hardware. Software/driver updates should have no effect on your machine ID. NinjaTrader has not refused fixing anything as there is nothing they can do. Occasionally when starting up NinjaTrader it may not be able to contact the license validation server and you indicators may fail to work. In a case like that you just have to restart NT so that it can check again. Most vendors would license you for a new machine ID for free anyway.
Also take note that if the vendor asks you to create and ID with the 3rd party licensing option you can lose the license if you re-install NT from scratch (deleting the NT folder in your Documents) and you would have to generate is again.
Other platforms have types of licensing which may also suffer occasional glitches. Changing platforms is your choice but may not be the cure-all.
Last edited by eDanny; January 2nd, 2012 at 01:15 PM.
the machine ID is a (more or less) unique ID which can change, if you change some of the components of your PC. In this case you need to contact the vendor to transfer your license to accept the new machine ID. The vendor just needs to enter the new machine ID into the license data base, which will take less than 60 seconds.
If the vendor charges you $ 10 for that service, he is probably not counting on selling you anything again.
I do not think that you can blame NinjaTrader for the bad behaviour of some of the vendors.
The following user says Thank You to Fat Tails for this post:
In your case though it sounds like a problem with the provider of your indicators.
It is not Ninjas fault, if this developer charges you a fee for a replace licence.
(whatever the cause for a new licence was)
There are a lot of free indicators for Ninja around also . Like here on BigMike.
The same goes for Multicharts or Sierra.
My guess is you are just starting out in your trading journey.
Have a look on the free indicators too.