Free MultiCharts in TWS !!

[Stan_MultiCharts]

I'm confused about the limitations and differences with the TWS version of MC.net. Stan, maybe you could explain? Apologies if I've missed something clearly documented but I'm not seeing it...

1) Have you disabled the ability to connect to other data providers? I already have IQFeed that I use for backtesting in other programs, would like to carry that over. I also use Yahoo for some symbols that IB doesn't quote. This would mitigate the dreaded pacing violation messages.

"MultiCharts for TWS" and "MultiCharts .NET for TWS" are separate products and were optimized for IB. We completely cut out the QuoteManager and all data feeds and vendors besides Interactive Brokers. FreeQuotes that supplies Yahoo and others was also disabled.

The data question is definitely on the agenda and we are investigating different option. All options have the goal of improving data so that it's good for backtesting, but we are exploring different routes to get there .

2) Any other functional differences between this special version and the full version?

There's no QuoteManager, Portfolio Backtester in this version. The search was optimized to work just like the one in TWS.

3) is the $39 monthly fee getting me up to full version or are there still gaps between the versions? Are there integrations in the TWS version that are improvements over what I could do with the full vers + IB? I am not a MC user now, will take a look at it and gladly pay a reasonable fee if it does the job better than WLP

The $39/month is the monthly licensing for this TWS-specific product. It's completely independent of the regular MC. The regular full license of MC offers more options, but more options means more setup (although it's not that difficult). The goal here was to create a simple, streamlines and cheap version of MC that works with TWS out of the box (without any additional configurations).

4) Today I got a message saying that "large numbers of positions" are not supported and I'd face stability issues if I proceeded. How much is large? Is it across accounts? For reference, I have 10+ accounts that have on average 50 positions (almost always identical across accounts) so I either have 50+ or 500+ positions depending on your math. I'm probably considered "large" but can you give a firm answer on what # of positions is fully supported?

TWS means 2000 positions by the word "large", but for safety reasons they show this message at 500 positions. Our tests showed that around 2000 positions everything was fine and stable.

 

[sf631]

Thanks Stan for the very clear answers

 

[SideShowBob]

Stan,

Regarding large numbers of positions -- I nearly got scared off by that text from even considering Multicharts with TWS. I don't think I've ever had 500 positions open so it would have scared me off for no reason. You might consider seeing if IB would give those specific numbers in the text to avoid scaring off other potential users. In trading ego is king so I'm sure everyone thinks they have "large numbers of positions".

How does Multicharts handle positions that are not automated when other positions are automated? For example if I am running automated systems on say ES, YM and NQ but I also want to open a manual position in ES from an unrelated system I trade manually because it only trades once a quarter, how would Multicharts handle that? If there is specific documentation on this please point me to it? My concern is Multicharts would close it out thinking the account was out of sync. Or would I open the position through a Multicharts trading interface so Multicharts would know about the position?

SSB

 

[drmayer]

Would love to hear how it has been working for you.

Can I use it side-by-side with TWS' DOM?

Thanks!

 

[meecc]

For long term analysis, I do not use IB data and subscribe to a data feed.

Hello, Nobias

I'm using IB data and MC
and considering using IQFeed to remove pacing violation on data request.

1) What is the datafeed you use ? IQfeed ?

2) Does the backtest result based on data from the datafeed provider
give relevant, tradable signals that would work correctly
while in autotrading in MC using IB realtime data ?
Are there discrepancy issues noted ?

This is as I'm aware that
IB does not stream true real time quotes. They only send snapshots of the market at 250~300 millisecond intervals. (aggregated quotes),
whereas we can get data provider with unfiltered tick data.

3) if 2) is the problem , how did you get around ?


Meecc

 

[NoBias]

Hello, Nobias

I'm using IB data and MC
and considering using IQFeed to remove pacing violation on data request.

1) What is the datafeed you use ? IQfeed ?

2) Does the backtest result based on data from the datafeed provider
give relevant, tradable signals that would work correctly
while in autotrading in MC using IB realtime data ?
Are there discrepancy issues noted ?

This is as I'm aware that
IB does not stream true real time quotes. They only send snapshots of the market at 250~300 millisecond intervals. (aggregated quotes),
whereas we can get data provider with unfiltered tick data.

3) if 2) is the problem , how did you get around ?


Meecc

(1) IQfeed is a quality feed. I have used it in the past, I opted for TS data.

NOTE: I only use 3rd party data in MC-IB licensed.... MC-IB/TWS I do not believe will support 3rd party data

Links to previous comments I made on this subject.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3647588&highlight=data#post3647588
http://www.elitetrader.com/vb/showthread.php?s=&postid=3570910&highlight=data#post3570910

Note: At time of writing MC-IB/TWS did not exist, since then MC-DT has been replaced with MC-IB/TWS

An alternative option for longer term equities data to IQfeed or TS data etc... would be to subscribe to Tradingview pro real time. Nice web based charting platform and reasonably priced.
[This does not address your questions, however, I include it for others who may find it of interest]

$20/month or 1-2 year deals are available @ approximately $16/$12 per month, making it very reasonable for realtime equities exchange data. It will not feed MC-IB/TWS or MC licensed product as it is web based, nor can one back test with it. It is however a nice long term analysis tool for discretionary TA chartist's. I use it as a supplement. Very convenient when I am away from my normal computers, or just want a quick glance at an instrument and platforms are not loaded.

https://www.tradingview.com/
https://www.tradingview.com/gopro/

Normally during trial period you will be offered a one year discount. You can register or use Tradingiew for free, however, then you will only get bats data, the exchange data is well worth the minimal fee asked.

(2) I am a discretionary trader, and am not qualified to respond to your inquiry regarding backtesting and algo/autotrading results. However, I would not hesitate to use IQfeed if I were so inclined *AND* it met my data parameter requirements. You need to determine how far back is relevant to YOU.

For my discretionary trading I had no issues or discrepancy's backtesting with 3rd party data and trading IB. Other than minor nuances with Indices, i.e. in IB you need select if calculated or native index. One provides gaps the other doesn't. Caveat, all data providers calculate slightly different, same issue as with continuous contracts.

Tip: Never use continuous contracts for backtesting, suggest cash index's when available. In futures one needs to be creative and treat results with discretion.

example:
ES = SPX
GC =XAUUSD
etc...

 

[meecc]

(2) I am a discretionary trader, and am not qualified to respond to your inquiry regarding backtesting and algo/autotrading results. However, I would not hesitate to use IQfeed if I were so inclined *AND* it met my data parameter requirements. You need to determine how far back is relevant to YOU.

For my discretionary trading I had no issues or discrepancy's backtesting with 3rd party data and trading IB. Other than minor nuances with Indices, i.e. in IB you need select if calculated or native index. One provides gaps the other doesn't. Caveat, all data providers calculate slightly different, same issue as with continuous contracts.

Tip: Never use continuous contracts for backtesting, suggest cash index's when available. In futures one needs to be creative and treat results with discretion.

example:
ES = SPX
GC =XAUUSD
etc...

Thank you Nobias for all your replies.

Could you suggest the index name for CL futures for backtesting ?
I have not found it.

 

[NoBias]

Thank you Nobias for all your replies.

Could you suggest the index name for CL futures for backtesting ?
I have not found it.

I haven't located an individual symbol for "oil spot price/cash index" per se.

I reference various sources, identify areas, compare, drill down time frames, compare again and look for confluence.

http://bit.ly/RWGvZR "spot oil price history" returns various sources

http://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm EIA

http://www.cmegroup.com/company/nymex.html NYMEX

For the short term, I use the individual contracts I am trading and the "Z" contract as reference, i.e. CLz14. Never continuous contracts.
[often "Z" contract provides a slightly longer data period. Caveat here being usually low volume, so also use with caution.]

You can reference http://etfdb.com/type/commodity/energy/crude-oil/ [ETF/ETNs,] but exercise caution due to the rollover errors induced by contango, backwardization, etc.... USO, OIL are far from perfect vehicles...

I attempt to remain as objective as possible, not concern myself with absolute values, but identify "areas", and use the front month or contract traded to establish price. Apply my risk and trade mgmt, and look for next trade/opportunity.

Trading is an art, not an exact science. At times discretion and experience must be relied on. Hence the term Discretionary Trader.

 

[meecc]

Many thanks again,
NoBias,
for all your kind guidances.

 

[WaveStrider]

Set this up for a friend today and saw the Pacing Violation message almost immediately.

Nice chart - but useless as long as IB ferrets out data like Scrooge with an eyedropper.