Reliability of Sierra Chart for automated trading?
I'm currently developing and testing some automated trading strategies. I initially picked MultiCharts as my development platform, given its reputation for rock-solid reliability. I've been using it and like it quite a bit.
Unfortunately, my current strategy is based on Renko charts, and MultiChart's support for Renko charts isn't as robust as I'd like it to be. From what I've read, Sierra Chart might have what I need through the new "Better Renko" charts, and the price is great.
Before I invest too much time with Sierra Chart, could I ask how suitable it is for running a purely automated strategy? E.g., would I need to constantly babysit the computer and deal with crashes (as some people complain about with NinjaTrader), or is it something that can run on its own, with minimal maintenance? Are there any particular "gotchas" that I'd need to worry about with Sierra Chart? Does anyone have first-hand experience using it for this purpose?
My plan would be to use Sierra Chart's ACSIL interface for auto-trading, rather than the worksheet system. FWIW, my broker is IB. Thanks much in advance.
I do not have an automated strategy but I have SC with IB, and I can assure you that SC is capable of most things you throw at it. It is a very robust, fast platform. I would not recommend IB for auto trading though, it is a disaster what they offer and have audacity to ask for money for some data feeds. You'll loose money.
Look for another vendor, depending on what you trade. i am looking for another vendor and OEC looks very attractive (inexpensive and reliable), minus some limits on the number of tick symbols you can run. You can go with TT (velocity is the vendor). Both are reliable and provide good feed to SC. SC has now a new(improved) Reno charts as well.
The following user says Thank You to dlatbm for this post:
We recently introduced a new enhanced Renko study with all of the improvements that have been asked for. Especially by users who do auto trading with Renko bars. So this new study should meet your requirements quite well.
Also, using ACSIL for auto trading is a good choice.
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