The OFA system works two types of candles. It works on time based candles and the OFA system has its own candles which are a form of range bar called Probe and Rotation bars. I am very pleased with the system and would highly recommend.
This quite the most accurate feedback to be found on motivewave, especially for the support. Using it for a couple weeks for stock / futures after using SC for while, I think this platform should deserve more publicity. It is a very complete package, neat user interface, Mac and Windows native, yes it is java but havent been an issue so far for the memory, a lot of indicators and extendable.
After spending weeks to configure SC, trying to get Number Bars working correctly with IB/IQFeed (unsuccessfully), it was a breeze to use MotiveWave Volume Imprint out of the box, having a basic but cordial support and readable documentation.
Also they provide different pricing levels and the trade version is very inexpensive. I m not using their advanced Elliot / Gartley studies, but if it is your thing, MotiveWave will certainly be goto platform.
I would only recommend Motive Wave if you are really into longer term wave count charting. Harmonic patterns imo are no better than lunar cycles in trading, I would not recommend Motive for any type of day trader or short term trader it will slow down your machine especially if it is not the only platform you have running. SC with Infinity is far more resource efficient, along with TradeStation and TOS for an intra day active trader
I m doing day trading, 3 platforms, not using waves, and my machine is running smoothly, it is not more resource demanding than IB (java also) or some other windows native platform I m using. Of course it may not be suitable for small or older computers. The important part for me was the time saved compared to SC, and I prefer spending this time trading than tweaking and guessing where to configure things. For people with small machines or who prefer to pay every month and spending days configuring it, SC is a good alternative.
I'm surprised your not noticing a slowdown from the memory usage of Motive Wave but that's good to hear.
As far as fees, SC is free if you do 15 RTs or so and if you don't it's like $15 a month, at least through Infinity Futures. I'm assuming you bought MW lifetime which is what, around $1000 or more depending on which version you purchased?? You'd have to pay for SC several years to equate that expense. Please correct me if missed something. Now if it's a preference thing regardless of details then to each their own, I hope MW works out for you long term
MW the first trading version is at 299 and with promotion it goes down 225. That is less than 1 year of SC service 5, the one I was paying for because when using with Infinity you are locked down to use it only for what you trade with them, while I m trading also stocks. At the end when you go through infinity or another IB you pay for the software in your commissions.
With SC I needed to use their data feed, because some features were not working well with other feeds and they do not provide any support if you dont use their feed, that was another $45 a month on top. So I really liked using SC, spent days tweaking it, it is full of features, highly customisable, lightweight but so difficult to get it right and their support is just terribly unwelcoming. Then when I found MW with everything packaged in, easier to use, for a lifetime price quite inexpensive (even the 999 pro version), it was a no way back. And the more I use it, the more I like it, and I wish more people would talk about it, it is a great piece of software (as well as SC is).
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