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Software for Market &Volume Profile


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Software for Market &Volume Profile

  #11 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136

Sierra Chart has built in Market Profile, and excellent volume profile capabilities as well. Investor R/T is probably the most popular and very feature-rich, but it's also quite a bit more expensive and does not have the trading capabilities that Sierra does. I have used both and go with Sierra. NT does not have any useful profiling built in and 3rd party tools are good but can be cumbersome. They all offer free trials, so I would recommend trying each one for 2 weeks; take the time to see what you like and what works for you, only you can decide.

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Can you help answer these questions
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  #12 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537

MarketDelta has everything, plus trading capabilities with their Trader product. It is more expensive than Sierra, but most people would say it is also much easier to use and is the originator of most the tools.

Mike

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  #13 (permalink)
 drywater0 
New York, New York
 
Experience: Intermediate
Platform: TradeStation
Trading: Stocks
Posts: 16 since May 2013
Thanks Given: 25
Thanks Received: 2


Josh,
Thanks for your input. Incidentally I recently downloaded a copy of Sierra Charts and agree that it does look quite powerful. Any recommendations in terms of what feed to go with? It seems several come at no cost from different brokers. But at the same time, the old adage "garbage in, garbage out" makes me consider paying $50 - $100 per month if the data is fast, accurate and has good backfill with a rich tick history for volume analysis. Your thoughts would be greatly appreciated.

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  #14 (permalink)
 drywater0 
New York, New York
 
Experience: Intermediate
Platform: TradeStation
Trading: Stocks
Posts: 16 since May 2013
Thanks Given: 25
Thanks Received: 2

Mike,
Thanks much for the timely suggestion. They have some webinars next week so plan on checking it out. Hadn't heard of that platform before so appreciate your input.

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  #15 (permalink)
 
Traderwolf's Avatar
 Traderwolf 
Raleigh,NC
 
Experience: None
Platform: Versatile and Stable
Broker: Reliable and Accurate
Trading: Money
Posts: 250 since Feb 2012
Thanks Given: 154
Thanks Received: 1,028


drywater0 View Post
Josh,
Thanks for your input. Incidentally I recently downloaded a copy of Sierra Charts and agree that it does look quite powerful. Any recommendations in terms of what feed to go with? It seems several come at no cost from different brokers. But at the same time, the old adage "garbage in, garbage out" makes me consider paying $50 - $100 per month if the data is fast, accurate and has good backfill with a rich tick history for volume analysis. Your thoughts would be greatly appreciated.


@drywater0,

I have recently converted over to Sierra and am using Rithmic data feed. I am very happy with it and it is included for free if you go with Optimus Futures.. I am using Market Profile and Numbers bars.. Contact Matt at Optimus and he will give you a free trial with Rithmic.



Wolf

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  #16 (permalink)
roach
Duluth MN/USA
 
Posts: 3 since Jan 2013
Thanks Given: 1
Thanks Received: 3

Market Delta is gonna be pretty tough to beat for both volume and market profiling. Investor R/T is just as feature rich and more cost effective if you don't require footprint charting. They are the same aside form the footprint charting capability. Sierra Charts will accomplish some of what MD and IRT can do when it comes to profiling tools, although a bit more clumsily and without some key features in my opinion. However, depending on budget, SC is a lot of bang for the buck. I like iQfeed for data, but again, it depends on budget. You can spend around $40/mo for SC and use a broker feed, or $265/mo (give or take) with MD and iQfeed, with various mixed options falling in-between. I can't speak for Multl Charts, as I haven't used it.

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  #17 (permalink)
 drywater0 
New York, New York
 
Experience: Intermediate
Platform: TradeStation
Trading: Stocks
Posts: 16 since May 2013
Thanks Given: 25
Thanks Received: 2

Wolf,
Thanks for the suggestion - I will look into that option. Does the Rithmic feed include US stocks, or is it limited to futures?

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  #18 (permalink)
 drywater0 
New York, New York
 
Experience: Intermediate
Platform: TradeStation
Trading: Stocks
Posts: 16 since May 2013
Thanks Given: 25
Thanks Received: 2

Roach,
Appreciate your help. If you are a user of MarketDelta, can you comment on the ability to write custom indicators? Does it have something along the lines of TradeStation's Easy Language that can be used by a non-programmer?

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  #19 (permalink)
 
Traderwolf's Avatar
 Traderwolf 
Raleigh,NC
 
Experience: None
Platform: Versatile and Stable
Broker: Reliable and Accurate
Trading: Money
Posts: 250 since Feb 2012
Thanks Given: 154
Thanks Received: 1,028


drywater0 View Post
Wolf,
Thanks for the suggestion - I will look into that option. Does the Rithmic feed include US stocks, or is it limited to futures?

I am not sure........ Futures is all I use .... Matt at Optimus could answer though..

Wolf

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  #20 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
Thanks Given: 4,171
Thanks Received: 6,018


Jim Dalton is using this tool to organize datas with market profile:
WindoTrader Corporation > Home

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Last Updated on May 26, 2013


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