Integrated Charting/Scanning for use with IB

BSAM,

I use Nextrend for futures data/charts (very reliable). QQL will offer futures data in the near future.

The new Nextrend 3.00a version has improved charting, but still has limited number of symbols, limited number of technical indicators, limited number of pages and limited number of windows per page. QQL updates the software more frequently and has unlimited number of symbols, charts etc.

To sum up, both have advantages and disadvantages, with IB commissions I can afford both.

Fohat
 
I haven't started trading quite yet, and must admit that my knowledge is rather limited. My question may therefore seem simple to most of you, but nevertheless here it is: why is quote.com's Livecharts service such a bad choice? It's price of $20/month certainly seems attractive. Does it include a futures charts/data feed as well? Thanks!

Rushman
 

Rushman:

Quote.com has great software/tools, but their data feed reliability SUCKS out loud. Their customer service is very bad also. Unless they have made recent BIG improvements I'd suggest a different data feed.

BSAM
 
Fohat,

According to their websites (QQL and Nextrend) QQL has 21 indicators and Nextrend has 34. Does QQL have more than what is listed on the site. I am a newbie and right now I am mainly using bollinger bands, stochastic, RSI, and Parabolic SAR. According to their websites QQL does not have Wilder RSI nor Parabolic.

However, as you said - with IB commissions so low you can afford to have both. But as a newbie I would prefer to use only one charting program.

GaretJax

QQL Indicators (from their webpage)
:
Use these technical studies and indicators:
Volume
Volume (two tone)
Price
OHLC (Open, High, Low, Close)
Moving Average (price/volume)
Moving Average Convergence Divergence (MACD)
On Balance Volume
Relative Strength Index (RSI)
Bollinger Bands
Candlestick
Accumulation/Distribution
Williams' %R
Fast/Slow Stochastic
Momentum
Chaikin Oscillator
Market Facilitation Index
Relative Performance (2 symbols)
Directional Movement Indicator (DMI)
Normalized Performance
Price/Volume Trend
Donchian Channel

Nextrend Indicators:

Dual Axis Charting
Bollinger Bands
Keltner Channels
Acceleration
Accumulation/Distribution
Average Balance Volume
Average Directional Movement Index
Commodity Channel Index (CCI)
Cumulative Volume
Directional Movement Index
Directional Movement Oscillator
High Low Oscillator
Historical Volatility
Keltner Channel
Momentum
Moving Average Convergence Divergence (MACD)
Moving Average Convergence Divergence Oscillator
Trend Lines
Moving Average Envelope
Moving Average Momentum
Moving Average Oscillator
On Balance Volume
Open Interest
Parabolic
Price Rate of Change
Wilder Relative Strength Index
Stochastics (Modified, Slow, and Fast)
Tick Volume
Up Ticks vs. Down Ticks (Difference and Ratio)
Variable Accumulation Distribution
Volume
Volume Rate of Change
Wilder Volatility
Williams %R indicators


 

GaretJax:

It seems one could make reasonable trading decisions using the tools offered by either QQL or NexTrend. I believe most will tell you that if you try to apply too many indicators, you will get so many mixed signals that your trading decisions will be confusing to you. Better to understand 3 or 4 indicators and combine those with market internals, futures movement, etc. in order to make trading decisions. Trying to apply too much at once greatly aggravates the picture.

BSAM
 
GaretJax,

By "limited number of technical indicators" I mean that Nextrend has limit on the number of TI(Technical indicators)you can plot on a chart (for most plans up to 3 TI per chart, when you plot the price). There's also limit on the number of windows you can open in a workspace and limit on the number of workspaces. QQL doesn't have such limits, even the $19.95/mo plan.
QQL has RSI, no Parabolic. Nextrend has no Chaikin Oscilator, but plenty of other oscilators.

Nextrend double counts TI (Keltner Channel, Keltner Channels and others) and counts Trend lines, Dual axis charting as TI, but they are not TI. Therefore the 34, 21 TI numbers are misleading because they are calculated differently.

I use more than 16 winodws per workspace for stocks/options, so Nextrend is not sufficient for me.

Both are very good for making trading decisions,
have very stable datafeed and more technical indicators than Qcharts. Which charting/scanning package to select depends on your trading needs.

Fohat
 
Thanks Fohat. Yes I ran into the nextrend limitation last night - only 4 indicators per chart for the free version. The subscription version allows 16. I will probably trial the qql for a month since I really can't get a good feel without playing with it - I really like that nextrend allows you to download their software. Also I do like the fact that qql allows you to save your desktop schemes - I have a 2-monitor setup and that is very useful.

GaretJax
 
I am a subscriber (they're my backup feed and an unreliable one at that) and unless I'm a moron (there's that chance) there is no futures data.

JB
 
both QCharts and Livecharts offer U.S. futures data.


Right now emini's are free until sept when a $10/mth charge starts from CME for real time though.
 
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