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Which platform is the best for market scanning?


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Which platform is the best for market scanning?

  #1 (permalink)
 Tradetronics 
Austria
 
Experience: Intermediate
Platform: Ninjatrader, X-Trader
Posts: 40 since Jun 2010
Thanks Given: 54
Thanks Received: 25

Hi,

I would need a market scanner and don't know whether NT or MC is better. The scan would look like this:

- The universe has 1000 stocks
- The criteria is based on multiple time frames,
- The stock should have a high relative volume based on daily time frame.
- The stock should be trading above the 8-period moving average on an hourly time frame.
- The stock should be trading above the last 5min candle (5 min time frame).

Which software would you recommend for this purpose?

Many thanks in advance!! ;-)

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  #3 (permalink)
 ab456 
New Delhi, India
 
Experience: Intermediate
Platform: SierraChart NinjaTrader,
Trading: ES,Stocks, Futures
Posts: 170 since Sep 2011
Thanks Given: 734
Thanks Received: 111


This is not a complex requirement. I think both NT and MC are capable of running the scan conditions that you mentioned. But you will need to code the conditions yourself. So you should decide based on which particular platform you are comfortable in designing the above scans.

Regards

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Last Updated on May 20, 2019


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