MetaStock

What is MetaStock?

MetaStock is a software program that is designed to help you make better decisions about when to buy and sell in the stock, Forex, futures, and commodities markets. MetaStock is basically a charting software based platform used for technical analysis of stock (and other assets) prices. It has both real time and end of day  versions. 

Features of MetaStock - 

• The MetaStock software package includes charting functionality in various styles, 250 pre-built technical indicators, scanning, filtering back-testing, line study drawing, forecasting, automated analysis, and custom indicator creation. 

The figure depicts live update chart of Nifty Future in MetaStock

• Whether you simply want to look at charts, run daily scans on the market for new stock picks or build a complete automated trading solution, MetaStock is the complete package. With over 200 built in indicators, tools, back-testing capabilities, and a powerful scanning engine, MetaStock already has the essential tools any investor needs.

•  MetaStock has a custom programming language which will allow you to create your own indicators, scans and trading systems and the graphic interface is nothing short of superb.

MetaStock Pros and Cons - 

Metastock is designed for retail traders or investors who want to trade Stocks, Options, Futures, Forex, ETFs(Exchange Traded Fund), Mutual funds, and Bonds, and are looking for a real-time data solution. It is important to note that you will not be able to actually execute trades with this software.

Pros

• Range of 3rd party tools (ETS, Bressert, etc.)
• Extensive data feed coverage + news (only 2 options)
• Active forum

Cons

• More focused on EOD & equities
• Not investing in platform & falling behind
• Doesn't have Backtest or optimization only baskets of symbols are possible to Backtest. 
• Doesn't provide a free API. Explorer of MS has number of column limitations 

Thank You !