Which retail firm has the best charting software?

[oldtime]

Quote from Spiderbird:

Hi all,

I'm currently using IB and their ChartTrader tool to place orders, but I'm a little frustrated with their alert features.

For example, I'd like to set an alert on a one minute chart when the volume of contracts on a security hits 150k or more. However, IB's Alerts only allows for the measurement of volume for the entire day, and not for a particular timeframe.

Does anyone know if another retailer allows for this? Additionally, if there is a retail trader that does, are they competitive or close to IB's fee structure? Right now, I'm getting anywhere from 1.50 to 3 dollars a trade (and I do about 3-5 each trading day).

Thanks in advance for any help or advice.

- Spider

IB's claim to fame has never been their charting. If you are happy with everything except the charting I would keep my account at IB and look for a third party front end. There are many that use the IB feed.

Not sure about Sierra charts alert and trading capabilities, but they have very nice charts for a small fee.

That way, you can try many different charting services without having to move your money all around from broker to broker.

Besides, even if you find a broker who's charts you like, they can change at anytime, especially when they get bought out.

 

[learner2007]

>Spiderbird

I understood your original question to be for cumulative volume on a 1 minute chart rather than for a period of 1 minute.

I would think that what you want is available as an EFS in eSignal, or someone there could help write one for you. Or maybe
there is a way to do that now that I don't know. Also, they are now developing their new program and may very well be able to add the option you need.

I think it would be worth your while to contact eSignal with your question.

Quote from Spiderbird:

Hi Learner2007,

Thanks for that. Does the dropdown for the "Volume (Total)" area include one for volume in a particular timeframe, or is the example you gave for a one-minute timeframe? If it's the latter, then it fits the bill I think.

I'm also attaching a screenshot to give a visual of what I'm trying to get. The image was taken from ChartTrader in IB, using a one minute bars with no indicators beyond looking at volume. It sounds like what you're showing in eSignal may work (if it's indeed for a one minute timeframe).

Hope that helps.

- Spider

 

[learner2007]

>Spiderbird

I just found and tested a study in eSignal that does exactly what you want.

Quote from learner2007:

>Spiderbird

I understood your original question to be for cumulative volume on a 1 minute chart rather than for a period of 1 minute.

I would think that what you want is available as an EFS in eSignal, or someone there could help write one for you. Or maybe
there is a way to do that now that I don't know. Also, they are now developing their new program and may very well be able to add the option you need.

I think it would be worth your while to contact eSignal with your question.

 

[learner2007]

Quote from learner2007:

You can take a free 30 day trial, but I don't know if you can use the studies in their library with the trial. If you can, this is the study you want: volumema(alerts).efs.
Don't be mislead by the ma in the title. You can set up parameters for either a MA or Threshold or both.

Hope this helps


>Spiderbird

I just found and tested a study in eSignal that does exactly what you want.

 

[Candlesmon]

Quote from Spiderbird:

Hi Candlesmon,

Have you tried doing automated trading with their platform? I haven't ventured into that at all (wanted to research first), but was curious to see if you're doing it currently.

And like the previous post and image... does TradeIdeas allow for volume alerts? I went through the Help forums and the features of their software, but I couldn't find anything. There were a couple of areas that required registration and didn't proceed further (i.e. automated and semi-automated trading).

Thanks for the help all the same.

Hi Spiderbird,
I have not tried the automated trading yet. I eventually will try it but with a paper account first. I have watched the demo of it on youtube and it does seem promising. TI does allow for volume alerts. When I say alerts it only lets stocks that meet your criteria show up on your alert window. It scans the markets that you select. It does not (as far as my knowledge) let you add stocks like Radar Screen. I use TradeStation but Radar Screen was not capable of doing what I wanted(I talked to reps there). The commissions at IB can't be beat and I will continue to use them also. Hope this helps. Take a look at the videos on youtube for Trade Ideas. If you do try the service you get an hour live lesson with one the reps.

 

[Spiderbird]

Hi all,

Wanted to circle around and report that I found NinjaTrader had the alert I was looking for. It took a day or two to understand the UI of the app via the help files they provide, and I was up and running. Now I have Homer Simpson soundbytes going off whenever 1 minute volume bars go beyond 150k.

Interesting side note: Since there's a slight time differential between IB and Ninjatrader, the compilation of volume in a one-minute time frame is different. For example, IB can be at 50-75k contract volume in a one minute bar, where NT will hit the 150k mark by adding up volume in a different timeframe.

All the same, I got was I was looking for thanks to everyone on the thread. Much appreciated!