MetaStock Pro Version 7.0

Meta Stock Products: software for technical analysis in real time, including historical data base of over five years for stocks, mutual funds, futures and indices.

Specifications: Recommended equipment: Windows 95/98/NT 4.0; Pentium 233 MHZ (or more), 128 MB RAM; free 50 MB of hard disk space for program installation, 200 MB (or more) for the data in real-time data feed in real time, compatible with MetaStock Pro (Professional) (CompuServe, Dial Data, Reuters DataLink, Signal, BMI, or Telescan). Price: $ 1,495.

A major treyderam needed a perfect program that works in real time, grouped into a single system and can assist in making trading decisions. They pay attention to MetaStock Professional 7.0. It offers the functions of output to the screen the image of the securities, create your own indicators, analysis of graphs in real time and at the end of the day, as well as the study of indicators and combinations of various analytical tools, expert commentaries, and integration with the Internet.

The program proposed in the package with two CD-ROM (MetaStock Pro and The Downloader (data loader)), the initial guidance, the guidance for the user to Downloader and detailed guidance of the ordinary. I tested these products on the HP Vectra with a Pentium Pro, 128 MB RAM, 32-bit machine.

MetaStock Pro 7.0, unlike its predecessor, has several important improvements. One of the most attractive improvements - the possibility of obtaining data in accordance with the requirements of industry.

Thus, the new version offered users direct access to the data from Data Broadcasting Corp. 'S eSignal.

This facilitates the task of obtaining the data and eliminates the need to save them on your hard drive. In addition, the possibility of integration into the Internet, send messages to pagers and email. Work with the program easier to use the toolbar to provide easy access to the tables and templates, but it is also possible to adjust the conditions for analysis in different time scales.

INSTALLATION

Immediately after the CD is placed in the drive automatically starts the installation program. Before you begin installation, make sure that your hard disk has free space, as well as take care of selecting the supplier of the data. If you want to save data on your hard drive, then make sure that it is enough free space.
You have three installation options: a standard installation, and the usual work station. For this review, I chose the default installation.
One of the first benefits I noticed this version of MetaStock - its compatibility with Windows, which greatly facilitates the management of the program. Clearly, Equis has resorted to more dialogue, as well as to provide complete and thorough documentation of the training, as well as context-search help system. Each of the possibilities of the program is useful and convenient.

MetaStock works well with Excel. You can associate indicator used in the graphical analysis of MetaStock Pro, with a table processor Excel, and vice versa. If you use Excel to analyze the opportunities and programming, it quickly found that the ability to bind these two programs through OLE is very useful. If you have experience in programming, you will be able to program indicators in Visual Basic and C + +, using the opportunities Developer's Kit (MDK), which has MetaStock. Thus, if you are in search of a full packet analysis to trade in real time, then, working with MetaStock, just can not deal properly.

In addition, you will have the opportunity to create the indicators, for which the program is Indicator Builder (Builder indicator). It allows you to build your own indicators. If you are programming any indicator, you will actually nothing more than that.

DATA

I enjoyed the DBC'S eSignal, because it is the only source that allows the use of technology to supply data on request. In fact, there are two types of data: in real time and at the end of the day. Working with data flow in real time, keep in mind that ticks zagruska prices for several major stocks such as Microsoft could take a long time. At the same time, the waiting period is minimal, when restoring the flow of data in real time.

Figures for the end of the day are stored on your hard disk and going through the Downloader from the chosen data source. Downloader - a separate program for data management that comes with MetaStock. It includes a manual with instructions for installation and operation.

Downloader is used to create files where the data is saved on the shares, for editing and imposition of price values to convert files from one format to another, for updating the files and verify their integrity, to adjust the data available. You can upload data from various instruments: securities, futures, indices and mutual funds.
Downloader'a interesting feature is the ability to create complex files. This allows you to connect the different financial instruments, using a mathematical formula. This method is very useful in determining the relative strength of two different financial instruments, as well as in the creation of futures and option spreads.

GRAPHICS

When you first started using MetaStock Pro, I would advise you to go through training programs, which is attached to the package. MetaStock Although simple to use, you do not damage the familiarity with its unique features.

Once a set of data (in real time or at the end of the day), you can begin to construct graphs. To do so, create folders to organize the storage of data on its financial instruments. Symbols can be selected from a database, which includes equities, futures, mutual funds and indices. There is a choice to update the database of characters. This can be done on a regular basis, but if you want a character not included in the database, you can create yourself. Here, you can create a great many files to group financial instruments. For example, you can create a folder just for the Nasdaq 100 stocks, or Standard & Poor 500. I especially liked the opportunity to adjust the delay time for the last bar of all intraday value of shares. This places the latest bid by including them in the last bar.

As soon as you enter a query for all of these properties, MetaStock will give the specified schedule. There are many options as to how a deal with the price schedules. Here you can see the candles, ravnoobemnye candles, bars of equivalent volume, kagi, bar high / low / close, line charts, tic-tac-toe, Renco graphics and three-construct. Figure 1 shows a sample schedule of candles superimposed with indicators in the form of a moving average. They will be automatically saved as soon as you are finished with them.

FIGURE 1: Maybe. It shows much of what is available in MetaStock. In this figure, we see a candle schedule shares Broadvision [BVSN], which includes comments, as well as internal window to demonstrate the convergence / divergence of sliding mean value (MACD) and volume.

The introduction of indicators in the charts being held in the MetaStock Pro is very fast, and there are a number of ways. I most liked the method, which involved the "drag". Here you select an indicator of «pop» menu and simply pulls on his schedule. You can also choose the indicator from the menu "Insert" button on the toolbar. It is available more than 120 indicators. Once they are on schedule, they can be easily modified by clicking the right mouse button and select settings.

Almost all the lines - the lines of trend, forks, Andrew, Fibonacci arcs, regressive channels, angles Hanna, vertical lines, ellipses and probabilistic field - can be removed for study on your schedules. In addition, here you can take advantage of the incredible flexibility of tools, if you need to change the nature of the research. The "Learn to build a course schedule» schedule allows you to scroll horizontally, bar for bar, and helps to better understand the technical analysis. You can resize your windows, use the scale in / out, update, change frequency, as well as the scale of the axis "Y", and, above all, easy to move from one schedule to another. If you want to see current quotes, option trading, or if you need to explore anything else, then there is a special link, which provides connection with the Equis Website. You can get neobhodimuyuuyu information.

For those who analyze the options markets, the overall composition includes a program OptionScope. This is a simple package for the analysis of trade options, but it allows you to calculate the fair market value, implied volatility and a simulation test for the stock options, as well as the standard survey used for viewing graphics option positions. This item can only work with data at the end of the day.

Sometimes you will want to be able to view several one-time schedules. In this case, you will be able to have graphics on the screen of the cascade, in the column, a mosaic - all this can be maintained to display later. An example of the cascade is shown in Figure 2. You can also create templates that will facilitate the construction of graphs / charts.

FIGURE 2: LOCATION OF CASCADE. One of the many ways of locating the graphs on the screen - cascading arrangement.

So, I was able to analyze the graphs to view the various financial instruments, use the comments of experts, set up the system and their experience. If you want a full package of technical analysis to trade in real time, MetaStock Pro 7.0, certainly not fail.

ADDITIONAL ELEMENTS

In addition to the installation of indicators and line studies, you can program their own indicators, as well as system testing on historical data, to categorize and view the financial instruments, use comments.
I thought those elements of the most attractive and focused its attention on them. First of all, I have to prioritize view of the financial instruments that are suited to certain criteria. To do this, I took this part of MetaStock Pro, as the Explorer. You can program the most, creating, in addition to built their own criteria. I chose five popular indicators to verify the convergence / divergence of moving averages (MACD), the value of the securities, commodity channel index (CCI), the balance amount (OBV) and the Relative Strength Index (RSI). Explorer has to provide a record of the list of securities that meet these criteria (Figure 3). I opened the graphics shares, using the receipt of the list, and monitored them during the whole trading day. These lists can be saved in a folder, so that could be used in updating data using the Downloader.

Language formulas MetaStock - is readily available programming tool that gives the user flexibility in creating their own indicators. To test this possibility, I asked the individual set of conditions, using the Indicator Builder (Figure 4). Once the system is set up, is always a desire to test its effectiveness. MetaStock includes the possibility of testing the trading system, which is included here System Tester, which allows it's easy to do. To test the system, you must enter the conditions suitable for entry and exit from the long and short positions. You may also be break-even condition tracking stop-order, stay off the market, minimize loss, routine returns and the movement of the foot.

Reports (Figure 5) the test reflected in different ways and include the information which will be useful in determining the success of the trading system. They show the number of Winning / Losing transactions, the average win / loss, profit / loss, net income as a result, the total loss, the types of positions, as well as the maximum value of reducing capital. According to the results of the test program can be entrusted to host the trade mark, which used arrows of purchase / sale, icons and a stop at the exit of selected grafikah.Podobny example shown in Figure 6. Even you can compare the various systems in order to determine which of them shows the best results.

Another interesting and useful element of the program - Expert Adviser. With its help you can get the necessary tips, you can call and ask for comment the current market situation on the basis of the schedule. This greatly facilitates analysis, because it enables them to easily stay abreast of developments. Comments may be withdrawn either in the form of text, color color bars, symbols on the graph, the special internal windows, either in the form of an alarm. Here it is also possible to set up their own expert systems, although the program has already built 20 systems, composed of Maître technical analysis.

MetaStock Pro 7.0 provides users with the ability to maneuver when setting up their trading systems. That is why the program, despite its considerable price, really worth to buy. Easy to use - feature not only for beginners. It will assess the technical and advanced analytics, ready to create your own trading system.

SUPPORT

For technical support, users can contact us by phone, e-mail, fax or regular mail. Because I was not the most appropriate contact for technical support, I have interviewed other people, what they give the impression of communication with technical support. All responded that it is beneficial. In fact, the only claim, which I encountered, was the Y2K problem of incompatibility with the export of data from external suppliers in MetaStock. But to solve this problem is addition (path), located on the Equis Website.

Most people need help with programming language, and as Equis in this case does not provide free support, then it makes sense to turn to one of several groups of users. These groups - an excellent resource, and the list can be found on the company website.

CONCLUSION

I am a consumer, the first time to use MetaStock, was struck by the number of elements and the variety of ways to work with the program. Although I had to make several attempts to understand how to create files on the shares, especially when dealing with the Downloader. But once I did, immediately received a great pleasure. I could analyze the graphs to see the securities and futures, using comments, creating a system and to verify them. If you are looking for a full package for the analysis of future trade in real time, MetaStock Pro 7.0, of course, you will not fail.