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MotiveWave - experiences?


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MotiveWave - experiences?

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  #11 (permalink)
Hawaii at the beach
 
Experience: Beginner
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Still thinking on this.
For the users is there FOOTPRINT and in multiple charts like range, volume, etc?

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  #12 (permalink)
Houston+Texas/United States
 
Experience: Intermediate
Platform: Ninja Trader, Motivewave
Broker: NinjaTrader, Oanda, TD Ameritrade
Trading: CL GC
 
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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.

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  #13 (permalink)
Houston+Texas/United States
 
Experience: Intermediate
Platform: Ninja Trader, Motivewave
Broker: NinjaTrader, Oanda, TD Ameritrade
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Posts: 87 since Nov 2015
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I attached photos of motivewave chart with ofa candles

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  #14 (permalink)
Houston+Texas/United States
 
Experience: Intermediate
Platform: Ninja Trader, Motivewave
Broker: NinjaTrader, Oanda, TD Ameritrade
Trading: CL GC
 
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Chart with Volume Imprint Candles that come with Motivewave

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  #15 (permalink)
Houston+Texas/United States
 
Experience: Intermediate
Platform: Ninja Trader, Motivewave
Broker: NinjaTrader, Oanda, TD Ameritrade
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Chart with TPO Profiles on them. This feature comes with Motivewave

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  #16 (permalink)
Chiang Mai, Thailand
 
Experience: Beginner
Platform: Medved Trader, MotiveWave
Broker: IB/IQFeed
Trading: ES/NQ
 
Posts: 7 since Sep 2011
Thanks: 7 given, 1 received


Japhro View Post
Motivewave is an excellent charting platform, especially if you are a wave counter, fibs, gann or gartley etc, it has a lot of studies and you can do a lot with it. The documentation included is very thorough as well.however, there are cons :

For trading, the order handling side is quite simplistic, the DOm offer just very basic features, the options board is decent for equity options but untradeable for futures options due to flaws they have never addressed for years now. It is very hard and cumbersome to load a options strike in the dom, and then trade it for example.

When you contact support they will sound like they are wanting to be helpful, but when you get right down to it, they won't help much, just refer you to their documentation and if there is an issue, they will say it's on the development pile and you'll never hear from them again about it.

It is java based and therefore a memory/resource hog, especially with lots of charts open.

The have great documentation but very few videos on really using the platform, so you have to figure out a lot for yourself.

In all, I do not regret buying it per se, but I cannot use it for my intended purpose (trading futures options with it) so it for me is a realllllly expensive chart platform that gets used once in a while. Results may vary of course

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.

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  #17 (permalink)
freasno, ca usa
 
Experience: Advanced
Platform: ninja trader
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sbusso View Post
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



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  #18 (permalink)
Chiang Mai, Thailand
 
Experience: Beginner
Platform: Medved Trader, MotiveWave
Broker: IB/IQFeed
Trading: ES/NQ
 
Posts: 7 since Sep 2011
Thanks: 7 given, 1 received

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.


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  #19 (permalink)
freasno, ca usa
 
Experience: Advanced
Platform: ninja trader
Trading: forex
 
Posts: 103 since Apr 2013
Thanks: 49 given, 75 received


sbusso View Post
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

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  #20 (permalink)
Chiang Mai, Thailand
 
Experience: Beginner
Platform: Medved Trader, MotiveWave
Broker: IB/IQFeed
Trading: ES/NQ
 
Posts: 7 since Sep 2011
Thanks: 7 given, 1 received


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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