StockFetcher Forums · General Discussion · Trendline software (automated)<< 1 2 >>Post Follow-up
glgene
523 posts
msg #59807
Ignore glgene
2/20/2008 9:03:35 AM

Does anyone know of "automated" trendline software available over the Internet?

johnpaulca
10,094 posts
msg #59808
Ignore johnpaulca
2/20/2008 9:34:10 AM

glgene...I use NeoTicker charting software and it includes an Auto Trendline.

glgene
523 posts
msg #59810
Ignore glgene
2/20/2008 10:31:18 AM

John,

I did a Google search and found that site. Tons of choices. But I couldn't locate the Trendline chart info. Would you send me the link? Thanks.

nikoschopen
2,824 posts
msg #59813
Ignore nikoschopen
2/20/2008 11:50:50 AM

Check out Omni's PatternTrader, which not only detects trendlines, but also support and resistance, saucer patterns, Fibonacci retracements, price gaps, volume climax, consolidations, and various candle patterns (so they claim).

I have my reservations, but it's prolly worth looking into if ure into that kind of thang.

glgene
523 posts
msg #59815
Ignore glgene
2/20/2008 12:43:13 PM

Niko.....Does "Pattern Trader" require a daily download of data? Or is it live, such as StockFetcher?

nikoschopen
2,824 posts
msg #59816
Ignore nikoschopen
2/20/2008 12:55:38 PM

I'm not a subscriber to Omni, but according to their brochure it sounds like they provide streaming charts. It does mention "OmniScan is powered by OmniData, Nirvana's popular EOD data service ($29.95/month). Real time data also available."

If you decide to try PatternTrader, use this "Offer Code": PTx710TL

EWZuber
1,373 posts
msg #59823
Ignore EWZuber
2/20/2008 4:13:04 PM

It would be nice to have programmable alerts when the trendline is violated.
IB has alerts for price and volume bu the price at support or resistance of any pattern that is at an angle will change with time.

nikoschopen
2,824 posts
msg #59827
Ignore nikoschopen
2/20/2008 4:37:37 PM

Zub,

QuoteTracker, which you can link to IB, has alerts based on a trendline breakout. One drawback, however, is that it doesn't automatically execute a trade once there is a breakout. I dunno whether that is considered a good thing or not.



drew9
171 posts
msg #59834
Ignore drew9
2/20/2008 11:50:10 PM

I have been an OmniTrader user since 2003. They have added some incredible functionality in the last 2 years. First they came out with the ability to draw support and resistance lines and have a trade automatically executed around them then managed according to your parameters. For OmniTrader 2008 they added the functionality to draw trendlines and then also have the trade execute should it move past a preset cushion around the trendline. You draw the line, pick the amount of cushion around the line, and the trade is executed automatically via Integrated Brokers or MB Trading, then managed according to your parameters. Ex. Sell half of position with 5% gain, then trail remainder with 3% trailing stop. A stop loss is also required to protect you. I have found this invaluable as I can golf / work or whatever and it will take profits without having to constantly watch a monitor. Also allows for those big moves as it takes the emotion from the trading to let the profits ride. Just set the trade plan and it will follow it. I am not aware of any other vendor that allows for his level of automated trading. Pattern Trader is an optional module that I recently purchased to help find those better potential trendlines. I have found it ok but as anyone knows it can be somewhat subjective on where the line is drawn. I think I prefer to do them myself. If you decide to check it out, go with OmniTrader Professional as it provides for trading stocks, futures, mutual funds and soon forex all real time and provides for the Integrated Brokeage trading. If you trade in real time you will also need a data feed and I use eSignal. They do offer their own data feed as mentioned but it is mainly used for end of day. They have been very fair with me over the years and have always given me their "Sale" prices for the modules purchased. I have been very impressed with their Support and R&D as every year they have come out with significant enhancements. Hope this helps!

nikoschopen
2,824 posts
msg #59835
Ignore nikoschopen
2/21/2008 1:11:19 AM

Of course, you don't need to spend nearly $2,000 for OmniTrader Pro but just $259 for Amibroker Pro, which you can also hook up to IB, that will allow you to automate ure trades. However, you will have to devote time and effort to learn the language in order to reap the full benefit.

StockFetcher Forums · General Discussion · Trendline software (automated)<< 1 2 >>Post Follow-up

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