Market Scanning Software? - Aussie Stock Forums

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  1. #1

    Default Market Scanning Software?

    Im New to share trading and would like some advice on what is the best software to use for end of day marketscans using personal preferences?
    Im currently doing the trial on marketscan ( pariatech ) seems ok. But was wondering what others use. Marketscan seems very simple to use - cant seem to do a short term momentum scan tho -
    Any advice would be much appreciated.

    Im not really interested in black box style software - as i like to make my own decisions once an appropriate list of stocks that meet my citeria has been found.

  2. #2
    bullmarket's Avatar
    Join Date
    Dec 2005
    Looking over your right shoulder :)

    Default Re: Marketscanning Question

    Hi stuartw

    I think Quicken's ShareAnalyser charting software is worth looking at.

    Although it doesn't have all the bells and whistles that some of the very much more expensive software packages have, it is a very good charting package with fully customisable indicators (25 or so of the most common indicators like stochastic, macd, rsi etc etc) and a built in market scanner.

    The built in scanner can scan on fundamental and technical critieria. You should be able to construct scans to scan for at least the most common types of scans like looking for up/down trending stocks, looking for breakouts with volume support, moving average cross-overs, indicators with buy/sell signals etc etc.

    The built in scanner uses point and click and manual input of parameters like mins/maxs, cutoffs etc to construct a scan without having to learn a programming language to construct your scans/explorations.

    Bottom line, using the KISS principle if a mini-minor will achieve your market scanning requirements, why buy a rolls royce

    If interested, maybe have a look at ShareAnalyser's Features and Benefits

    Good luck and hth


  3. #3

    Default Re: Marketscanning Question

    Thanks for the advice i'll check it out.
    Anybody any experience with Marketscan, Amitrader or Incredible Charts?
    Any good?

  4. #4

    Smile Re: Marketscanning Question

    Hi Stuart,

    Metastock has often been dubbed (the "RRoller of TA)
    ..... and with good reason, too.

    Even early versions of Metastock can be readily configured
    to do very detailed explorations, if necessary ..... and the
    whole market can be analyzed for your criteria, in just a
    matter of minutes.

    have a great day


  5. #5

    Default Re: Marketscanning Question

    Can anyone recommend a good value data service for Metastock? I thought that Bodhi GOLD looked good.


  6. #6

    Default Re: Marketscanning Question

    Hi Bowser

    I use both Bodhi Gold and premium data . Both are very good.

  7. #7

    Default Re: Marketscanning Question

    Hi ,

    I would go for Amibroker rather than Metastock, last time I looked Amibroker is MUCH cheaper and does the same job as far as I can see.

    Both are discussed on forums where you can get help with coding if required.

    I have found Premium Data support very helpful.
    Pollution is the real threat, Co2 is just a convenient distraction

  8. #8

    Default Re: Marketscanning Question

    I reckon Macca is on the money with Amibroker. There is an excellent plugin available for Amibroker called Powerscan. This plugin lets you pretty much choose the scanning paramaters from drop down menus and then it writes the scan in plain english and AFL code. Very easy to use. Powerscan costs about $70 from memory.

  9. #9
    Rotaredom wayneL's Avatar
    Join Date
    Jul 2004

    Default Re: Marketscanning Question

    I also use amibroker. In my view it is superior to metastock because it is far more flexible with the organisation of scan results. There is also now a large enough community of traders who use it to be able to get help, exchange ideas etc. "important" imo

    Much much cheaper too.

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