since noone wants to answer that...
EFS is not very good for backtesting.. yet.
Tradestation EL is much better, for backtesting.
(going on a fine line.. both are sponsors you know. still I always speak up my mind so they can improve).
eSignal has a great potential. I like very much the way it is very opened and powerful.
The language is powerful and standard (TS EL is a standard too now after all these years !).
eSignal has a big potential also because it does not take too much computer resources.
And I like the fact it updates with each tick, ready to start a position and manage it.
Because it is opened, eSignal can work with potentially any broker.
Don't get me wrong, Tradestation is very good too. It's a standard and consulting services and programming houses will build whatever you want for tradestation.
But of course, you need to use Tradestation brokerage...
well, not totally true. With TS you may use another broker but then the cost is double what you would pay for eSignal each month.
OK, I do prefer eSignal while I can handle the extra management (dlls, other software, proprietary software). Some traders can't handle the extra stuff, configuration etc.. then Tradestation is a solution to simplify your setup.
AND that reminds me that we must give credit to Tradestation for making it easy for retail or small shop traders to automate systems with full brokerage integration !!!
As a matter of fact others are following.
Back to some meat. I do insist that eSignal's backtesting is in its infancy. Sure they have nice reports, but coding realistic systems with the existing function is pretty difficult.
It does not compare to Tradestation. And is far behind Wealth Lab.
That must seem like a contradiction to my previous statements. Not really. I wrote that eSignal has a big potential.
Tradestation is obviously more mature in terms of backtesting.
BUT eSignal is so opened that improvements are coming fast. So if you use, let's say IB for brokerage, then you should consider eSignal.
But for backtesting you may need Wealth Lab while eSignal gets better.
However, you will like execution scripting. Specially if you interface with DynaOrder (as a bridge between eSignal and IB).
..
So Tradestation is easier to implement.
But eSignal's approach is more suited to complex programming.
That's why, maybe, I am leaning toward it. It's easier to code proprietary systems that work, even very quick action systems (not just market making).
But eSignal won't be your backtesting solution for now. It's an execution platform for almost all trading types. One of the best. like Ensign (also based on eSignal quotes).
in the past, and I can tell, it used to take hard to code proprietary software solutions.
Now the component approach is paying off.
You can avoid it by using an all-in-one like tradestation. but like any all-in-one (think audio sound systems) it will do the job at the expense of some flexibility.
With a more component approach, possibilities are getting amazing.
I hope that helps a bit. it must be a bit confusing. but at least it's a reply to your post.
