Using stock analysis software is bread and butter of my technical stock market analysis. I use this charting software every day. It helps me to analyze share price charts but also it has market screening functions included so I use this software for stock market screening too.
It was not quick way to final selection of best stock chart software for my needs. I spent several months testing of different software packages. I have tested them not only for chart analysis during my pre-market trading routine but also in real time during US market trading hours.
Finally I selected one software that I like most till today. Its name is Amibroker. I use it every day. I analyze not only US market but also international equity markets, currency markets and commodities in this charting software.
I selected Amibroker as my stock analysis software. It has a lot of tools and offers so many possibilities for technical analysis and candlestick analysis, but it also can support the needs of fundamental analysis.
Multi-time frame charting possibility
I like to have a different time frame chart of the same share symbol on the screen and see all of them together. My chart layout fits my needs. I have daily, weekly, hourly and four-hour price charts of the same symbol visible so I can analyze the technical situation very easily.br>
Stock group and watchlist management
It’s very easy to assign any shares symbol to a group and have several watchlists, each one for different purposes. Stock symbols can easily be added, removed and moved between these groups and watchlists.
(click for larger image)
(click for larger image)
Stock database management and real-time data
I have several databases, one for U.S. stocks, one for U.K. stocks (London Stock Exchange), one for the local Czech market (Prague stock exchange) and another stock database for the German market (Deutsche Boerse). I also have one database for Forex symbols.
I can open several Amibroker programs, each one with a different database. This way, I can check shares listed in the U.S. or in the U.K. and also Forex trading without any complicated switching.
I use Esignal as a real-time data provider for all the databases I use. Amibroker offers the ability to use several different data providers, real-time and End of Day data. Several sources are free.
I use the its screening function a lot. It’s very easy to write some AmiBroker formulas describing my scanning rules and then run Automatic Analysis. I have my results very quickly, and I can do pick analysis very quickly. My most popular scanners are breakout candidates, breakdown candidates, stocks near a 52-week high or 52-low, stocks making a pullback during a trend, gapping stocks and more.
Easy charting of technical indicators
I can add any indicator I want to chart. I can modify parameters of indicators. And I can write my own indicator if I don’t find it in the list of indicators available.
Amibroker has a huge list of features, and I don’t use all of them. The list is so huge that I think every trader can find what works for him when using Amibroker stock analysis software.
Also, the price is very reasonable.
So if you’re thinking about software for chart analysis, try AmiBroker. I can recommend it. I’ve used it for several years already.
Btw. I publish candlestick charts generated by this stock analysis software in every issue of my personal trading newsletter. Subscribe to this complimentary stock trading newsletter and learn more about using this market charting and analysis software.