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Currently using TradeStation but not satisfied with their Market & Volume Profile and VWAP indicators. I would appreciate any suggestions for software platforms that are strong in this area, and their preferred data feeds. Thank you.
Can you help answer these questions from other members on NexusFi?
Don't miss to evaluate Sierra Charts too. Among the best platforms nowadays in my opinion
I don't use it myself for the simple fact that I am already invested in ninjatrader, but if I am to redo it all over again, my choice is clear...
Successful people will do what unsuccessful people won't or can't do!
Thanks for your quick response. I've come across MultiCharts before - looks and feels a lot like TradeStation but more flexibility with data feed and execution broker. Investor RT is a new name for me so will check it out.
Fadi,
Appreciate your help. In terms of Sierra Charts being among the best, are you specifically referring to Market & Volume Profile or you like it for it's overall feautres?
Do you like NinjaTrader for Market & Volume Profiles? I've read elsewhere that these types of studies are NOT built into the system as native studies so users must purchase from a third party which adds another layer of complexity & cost. Thanks for your feedback.
If you're using tradestation and have easylanguage indicators you want to keep, Multicharts is going to probably be your best bet. I feed mine with DTN IQ and CQG which work fine with the Volume profile and footprint style charts.
I like Sierra Charts for market and Volume profiles, price ladders, and overall features.
I don't like and I definitely don't use these profiles with ninjatrader as they are non-existent, and you need to install 3rd party plug-ins and add-ons to plot them. If you go the NT7 way, make sure you check GOMI in here on the forum, he did excellent job in creating these add-ins and for free too
Successful people will do what unsuccessful people won't or can't do!
Treydog999,
Thanks for pointing out the EasyLanguage compatibility. I do have some of my own code, but it is not complex and I can rebuild it on another platform if needed. The reality is that I will probably still use TradeStation for 75% of my needs but am now looking for a second platform with a strong Market & Volume profile feature set. You mentioned Volume Profile and footprint, but does MultiCharts have the traditional Market Profile with letters / numbers / TPO count? I attached a jpg file that shows TradeStation's Price Distribution study, which is similar to MarketProfile but does NOT update in real time so not too useful. Appreciate your thoughts whether MultiCharts has something like this that updates in real time because it was not clear to me from their website. Thanks very much.
No it does not natively support TPO counts and Traditional market profile. It has volume profile only. However there are custom TPO indicators which would be similar to TS stuff. If you don't need the easylanguage capabilities, i would probably recommend sierra or IRT for this type of stuff.
