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Home / Add-Ons / Add-Ons Non Subscription. Money Risk Management software that removes emotion and guesswork from your trading decisions, easily, step-by-step. It also monitors your performance and tracks each trade as it integrates with your MetaStock data. John Murphy’s Chart Pattern Recognition™. The chart pattern indicator is a tool that shows when the general market may turn using the theory that few bullish patterns appear near market tops and more appear near market bottoms. The indicator is a ratio of bullish patterns to the total of bullish and bearish patterns, expressed as a percentage.
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Hope I am not wrong in assuming that you are newbee. Here is my 2 cent worth. I have been using MS for 1 yr 1) You need to have datafeed to get the data downloaded in MS compatible format. There are many paid data providers.
(if one is serious about Trading business, then my suggestion is to invest in paid service). There are quite a few free data downloaders availble. You can find the info in other threads of this forum.
2) You may not be able to connect your broker's system to MS without investing in programming. That is too when your broker provides you API to access their system. Borkers like Interactive Broker / Trade Station etc have this feature. But I don't think anybody Indian broker is at that stage. 3) Metastock already has very good set of features (200+ indictors), MS system tester, MS experts etc, so I don't think that you will need futher add-ons at the intial stage.
Good and profitable trading need not be complex. More number of features / tools are not going to make any money until unless the user knows how to use them. There are many inbuilt features that meets the requirement of most of the traders so instead of enhacning the toolset, please spend time in learning about how to get the best of current MS installation. Happy Trading. Hope I am not wrong in assuming that you are newbee. Here is my 2 cent worth.
I have been using MS for 1 yr 1) You need to have datafeed to get the data downloaded in MS compatible format. There are many paid data providers. (if one is serious about Trading business, then my suggestion is to invest in paid service). There are quite a few free data downloaders availble. You can find the info in other threads of this forum.
2) You may not be able to connect your broker's system to MS without investing in programming. That is too when your broker provides you API to access their system.
Borkers like Interactive Broker / Trade Station etc have this feature. But I don't think anybody Indian broker is at that stage.
3) Metastock already has very good set of features (200+ indictors), MS system tester, MS experts etc, so I don't think that you will need futher add-ons at the intial stage. Good and profitable trading need not be complex. More number of features / tools are not going to make any money until unless the user knows how to use them.
There are many inbuilt features that meets the requirement of most of the traders so instead of enhacning the toolset, please spend time in learning about how to get the best of current MS installation. Happy Trading. I had same problem with MS10 few days earlier and also found a bit lengthy but working solution.
Follow the steps below- 1. Get 'NSEBSE EOD downloader' from. It's free, small, easy to use and accurate. Only you need '.Net framework v2.0' installed to get it working. Create a folder (say 'NSEBhav') at your preffered location. Create another folder (say 'Current') into 'NSEBhav'.
Download bhavcopies to 'Current' using 'NSEBSE EOD downloader' (Instructions about how to use it is in the Readme.txt file supplied with the software). Create a folder (say 'NSEEq') in MS Data directory (default: C: MetaStock Data ). Use 'MS Downloader' to convert all files in 'Current' and save it to 'NSEEq'. Don't touch the 'Options' button if you don't know what you are doing. The default settings will do the job for you. Soon after conversion 'Cut (Ctrl + X)' all the files in 'Current' and 'Paste (Ctrl + V)' them in 'NSEBhav'.
![Chart Pattern Recognition Software Metastock Formula And Hurst Chart Pattern Recognition Software Metastock Formula And Hurst](http://photohost.lelong.com.my/is.php?i=47465&img=8038Equis_Internati.jpg)
This will act as a backup for future use and also ensure that only the current files are being updated to MS and not all of them from the beginning.!!REMEMBER!! This conversion takes quite a long time to be completed. So, less the number of files, less is the time you spend waiting. Download and convert frequently to get rid of delays. Open MS to view changes. You should see the securities, all updated.
Best of luck. Hi usasish, I'm trying to decide whether to get Metastock or Amibroker. I am sure there are other threads addressed to the comparison of the two. I've got a few questions on the data part. I'd appreciate it if you could answer these.
What are the options for getting paid real-time data? I know of the esignal and quotecenter products that are offered on the metastock site. Are these the only two options?
What about historical data. In general, does buying real time data from a provider mean that histrocal data is also included? For someone not too keen on fancy studies, and without much patience for serious programming, would MS still provide enough basic studies? Is viratech the only source for buying the software, or can you buy directly from equis.com.
I'm asking this more from the point of view of any future support requirements. Regarding realtime data, is one better than the other, or do they all provide pretty much the same thing. All I need is equities and futures. I'd appreciate hearing everybody's view on these. Thanks much Ramesh.