What are the specialties of Technical Analysis Software's?
We know that technical analysis software's help in the effective analysis of the stock market movements. These software's are equipped with lot of specialties and are highly robust in their actions. The functions of these software's can be briefed into following-
- The software’s are decision making terminals which helps traders and investors take the right trading decisions.
- They give every trader with the power to automatically track important market movements and analyze the market in real-time.
- They help analyze the Currency Market in real-time.
- The software gives us Buy & Sell signals that will help you make the right decision regarding various stocks that we have, or those that we could be interested in.
- They automate the charting, analysis and reporting functions that support technical analysts in their review and prediction of financial markets (e.g. the stock market).
There are many features of Technical Analysis Software's. But the one which can help traders with all the above mentioned points are the real winners. There are many software's which are dominant in some features like Back testing, Optimization etc but are not very effective in some other features like providing buy/sell signals etc. In such cases, a combination of one or more software's packages are needed to build a fully automated trading system. Some of the features that Technical Analysis Software Packages provides are as follows
Charting
A graphical interface that presents price, volume and technical analysis indicators through a variety of visual interfaces such as line, bar, candlestick and open-high-low-close (OHLC) charts. The chart data is presented as a time series and users typically have the ability to view historical data with varying interval (sampling) periods. Interval periods range from seconds through to months; short term traders tend to use frequent interval periods, such as 1 minute i.e. the price data is updated every 1 minute, whereas longer term traders tend to use daily, weekly or monthly interval periods when trying to identify price and technical analysis trends. Some charting packages enable users to draw support and resistance trend line or for example Fibonacci retracements to help establish trending patterns.
A graphical interface that presents price, volume and technical analysis indicators through a variety of visual interfaces such as line, bar, candlestick and open-high-low-close (OHLC) charts. The chart data is presented as a time series and users typically have the ability to view historical data with varying interval (sampling) periods. Interval periods range from seconds through to months; short term traders tend to use frequent interval periods, such as 1 minute i.e. the price data is updated every 1 minute, whereas longer term traders tend to use daily, weekly or monthly interval periods when trying to identify price and technical analysis trends. Some charting packages enable users to draw support and resistance trend line or for example Fibonacci retracements to help establish trending patterns.
Back testing
Optimization
Scanner
Alerts
Custom indicators
Data feed
Broker interface
Conclusion
There are many technical analysis real time data providers. But very few are genuine when it comes to maintaining standard quality for parameters like quality, price, after sales service, data accuracy, integrity etc. If you have always wanted accurate technical analysis on the stock market, but have not yet been able to find out the right way to do so, then www.rtdsdata.com or RtdsData Software may hold the key for you. Rtdsdata is one of the most comprehensive software out there in the market. It is almost like hiring a stock broker of your own who keeps you updated with the real time analysis of various stocks in the market.
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