Trading, at its core, is an art that combines keen observation and robust analysis for quick decision-making. Many brokerages offer trading solutions, and numerous online software tools aid investors in trading on the web. Amibroker and MetaStock are noteworthy in the realm of online trading software. Both offer rich charting packages with powerful toolsets, often leaving traders with the dilemma of choosing between them. In this article, we provide a detailed feature-by-feature comparison of Amibroker vs. MetaStock for your consideration.
MetaStock:
MetaStock, a charting software with over 30 years of popularity among technical analysts, dates back to its DOS-based debut in 1985. It boasts around 250+ built-in indicators and allows users to create their own. This software offers extensive backtesting capabilities through its MetaStock Enhanced System Tester. With features like MetaStock Explorer for system creation and Expert Advisors for interpreting trading signals, it covers the basic needs of beginner traders. Custom indicators are crafted in MetaStock using a formula language akin to Microsoft Excel.
One of its key strengths lies in powerful analysis tools for informed buy and sell decisions. Moreover, it’s highly customizable, enabling traders to elevate their trading practices.
System Requirements for MetaStock Pro Version
- Operating System: Windows 7, Windows 8, 8.1, Windows 10 (32-bit and 64-bit versions)
- Processor: 800 MHz processor
- RAM: 512 MB RAM
- Video: Video card and monitor supporting at least 256 colors at 1024×768
- Hard Disk: 500 MB or more available space (primarily for scanning/backtesting results)
- Internet Connection: 256 KB upload and download
Amibroker:
Amibroker, developed by Dr. Tomasz Janeczko, stands as one of the most popular trading software choices worldwide. Its remarkable speed and advanced multi-currency support appeal to a diverse range of traders. Amibroker takes automation to the next level with its integrated Batch Processor, capable of executing trades even while you sleep. It offers about 250 built-in technical indicators and the flexibility to create custom ones. To design custom indicators or trading algorithms, Amibroker employs the Amibroker Formula Language (AFL).
Amibroker offers rapid array and matrix processing tactics, without the need to write loops. This feature simplifies statistical calculations. The software also boasts a powerful backtest and optimization engine with multi-threading support. It provides object-oriented drawing tools, drag-and-drop indicator creation capabilities, a modern customizable user interface, multiple time frames on charts, and popular built-in indicators.
System Requirements for Amibroker
- Operating System: Windows 7, Windows 8, 8.1, Windows 10 (32-bit and 64-bit versions)
- Processor: Pentium 450 MHz or higher
- RAM: 128 MB RAM
- Video: 256 color graphics card (high color recommended) 800×600 minimum screen resolution
- Hard Disk: 20 MB Hard Disk Space
- Internet Connection: 256 KB upload and download
Check out our Amibroker Tutorial Archives.
Amibroker is a far superior all-round product when compared to MetaStock, and yet it’s only a quarter of the price of Metastock. Amibroker even offers a fully featured trial version. AFL is easier to learn as compared to MetaStock formula language. Amibroker’s backtest engine is faster and more robust when compared with MetaStock. Also, it has a more user-friendly interface.
MetaStock is limited to analyzing only MetaStock-formatted data. However, you can import data in a document format and use it for MetaStock data. On the other hand, Amibroker can read different data types, including MetaStock format. You can even integrate trading data directly from free sites such as Google Finance and Yahoo, along with data from paid sites such as eSignal and IQFeed.
MetaStock has been exponentially losing its popularity over the last decade, while Amibroker has been growing its customer base. We strongly recommend Amibroker as the best charting and backtesting platform if you are confused between Amibroker vs. MetaStock.
Also, check out some of the cheaper Alternatives to Amibroker available in India.
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