Multicharts - Anything else I should know ?

A

Anekdoten

During the past week I've been examining different software charting platforms because I have grown tired of Tradestation. Eventhough I don't use TS for order execution, I do use it for Technical Analysis and some of it's limitations have begun to bother me.

Tried Ensign, tried Ninja (good but not good enough) , Esignal just about anything else out there and last but not least Multicharts v3.0

Here's a quick sample of what I was able to do in Multicharts Demo using TS Data Feed after a few minutes of usage. Something I could not do in TS. In fact, MC feels like TS but a version 15, something of the future.

Naturally, I'm not experienced enough with MC to know it's glitches bugs or problems. This is where this post comes in. Anything I'm missing that I should be aware before buying the lifetime fee?

So far this software looks very very solid and Im on the verge of converting just want to test it live and do more research.

Thank you for your time.

Anek
 

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Quote from Anekdoten:
Naturally, I'm not experienced enough with MC to know it's glitches bugs or problems. This is where this post comes in. Anything I'm missing that I should be aware before buying the lifetime fee?
Anek
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One of the strengths of MultiCharts is the ability to integrate charts of different instrument/datafeed/resolution into one Chart space.

The example you have is a Constant Volume bar chart (a non-time based resolution) integrated with a 1 Minute chart and a 5 Second chart (time-based resolutions).

The bar spacing on this chart is based on the 1 minute chart.

The non-time based 500 Volume Bars must then space itself to fit the 1 Minute bar spacing. When you have fewer contracts traded in the highlighted 6 minute time frame, your volume bars get wider spacing. When you have more contracts traded in the second highlighted 6 minute time frame, you see the volume bars compressed together.

The opposite will happen if the bar spacing is based on the Volume Bar chart -- your minute/second chart bars will not have fixed spacing.

;-)
 
Tums,

Yes I'm aware of the functionality, very handy indeed and the fact that all of them are correlated to the 1 min spacing is ideal for my entry analysis.

However, I found a problem that I'm hoping is me.

I loaded a 10000 volume NQ chart with plenty of weeks as backdata, inserted a Trendline, and as I zoom in and out of the chart the Trendline is not readjusted properly on the zoom changes perspective, except when I go back to the extension I originally used to insert the trendline.

Something I'm doing wrong ?

It's about the only issue I have with it although I have not tested real market data yet.

If you need screenshots let me know.

Thanks

Anek
 
Do you have an indicator on the chart?

if you do... try these:

1. Make sure the indicator Scaling is Same as Symbol. (right click on chart, select Format Studies.)

2. Click on the chart's Y-Scale... make sure the symbol is selected, not the indicator.


Hope the above helps.
 
Quote from Tums:

Do you have an indicator on the chart?

if you do... try these:

1. Make sure the indicator Scaling is Same as Symbol. (right click on chart, select Format Studies.)

2. Click on the chart's Y-Scale... make sure the symbol is selected, not the indicator.


Hope the above helps.
More...

Issue fixed to perfection, back on the cheering squad.

Thank you for taking the time.

Anek
 
The main problem with MC is with choosing a good datafeed and maintaining the data (for example problem with volume bar charts using MC and Esignal). They should use a TS model and provide data as this post on TSSupport forum suggested. :

brendanh
Joined: 07 Apr 2007
Posts: 3
Posted: Mon Jun 09, 2008 1:52 pm Post subject:
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It would be nice if IB added continuous symbols, but I don't think its data feed will ever be adequate.

I am a futures trader with IB and Tradestation accounts. I currently use Tradestation, and would like to switch to MC+IB because IB is a much better broker, and the MC platform is developed much faster than TS (eg multi-cpu for opts, etc). However, I don't think IB, or any other 3rd party data vendor will ever match TS, which has an integrated-data feed that makes data-management completely transparent and allows it to develop powerful data features like custom futures symbols for user-defined rollover. I think TSS needs to set up its own data feeds with the exchanges, and charge the same as Tradestation (eg CME Globex futures for $40 pm). This will allow MC to match (and even improve upon) Tradestation's data features, and avoid the need for MC users to manage symbols lists, etc.

I'm aware this would require investment by TSS as you would need to hire data management and integrity resources. However you would no longer have to write, support, and update middleware for lots of 3rd party vendors.

At the end of the day, traders want to think about trading, not managing data. I believe MC has the potential to be # 1 in the fast-growing market for retail trading platforms (the IB-autotrading feature is a TS-killer) but data is the one major stumbling block to its success.

Brendan
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There is also a problem with MC not using the TS SDK such that some DLLs are incompatible.
 
Quote from tmarket:

The main problem with MC is with choosing a good datafeed and maintaining the data ...... They should use a TS model and provide data ........
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I couldn't disagree more. The large choice of datafeeds is MultiCharts main selling point.
For a start if you want to trade international markets the TS datafeed will not do you much good.
What if you want to have a backup datafeed in case your primary goes down?
What if you want to save a few bucks and use the feed from a broker that doesn't charge the exchange fees?
 
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