- MultiCharts
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MultiCharts 
Developer(s) MultiCharts, LLC Stable release 6.01.3605.400 / August 9, 2010 Operating system Windows Type Technical analysis software License Proprietary Website www.multicharts.com Contents
Introduction
MultiCharts is a Windows-based application which is designed, sold and distributed by MultiCharts, LLC. The company is based in Columbus, Ohio, in the United States. [1] MultiCharts is technical analysis software for analyzing the financial markets and trading. It uses a proprietary programming language called PowerLanguage[2] [3]. In the period spanning from 2008 to 2010 the program received several awards from the Trade2Win community, including “Best Professional Trading Platform and “Best Software for US Intra-Day Traders”. [4] [5]
Overview
MultiCharts is a professional electronic trading platform for individual and corporate traders. The platform provides the means to receive market data, perform technical analysis, and send orders automatically to a broker. MultiCharts supports multiple data feeds[1] and brokers[2], and provides the ability “mix-and-match” data providers and brokers (i.e. the broker does not also have to be a data provider). The platform comes with a number of publicly available technical indicators and trading systems, which are written in PowerLanguage. PowerLanguage is very similar to EasyLanguage, which was created and produced by TradeStation. The platform is capable of “understanding” EasyLanguage files, meaning that the files do not need to be converted to another format prior to being used in the platform. Users may write their own indicators and trading systems, copy and paste EasyLanguage script from another source, or import EasyLanguage files (supported file extensions are ELD, ELA and ELS).[6] Protected EasyLanguage files cannot be imported, unless they are unlocked first.
The platform provides an organizational tool for data management called the QuoteManager, which saves any loaded data to the local hard drive. This allows the user to examine the data, edit it, delete it, or add to it from some other data source. The database files can be copied to another drive for backing up, or other purposes.
The platform supports different modes of backtesting, which is a method used for testing theories about market behavior by applying them to historical data. It is possible to apply a technical indicator or a trading strategy to only one instrument or to a portfolio of instruments at the same time. For portfolio analysis users must use a separate module called the Portfolio Backtester, which comes with the platform.
The platform is capable of algorithmic trading, which means the orders are sent to a broker after being generated by a PowerLanguage script. The platform currently does not allow the user to generate an order manually (outside of writing, compiling and applying a script to an instrument). According to the official MultiCharts blog, this feature has either already been introduced, or will be introduced in the near future. [7]
Add-ons
A large number of third-party developers sell add-on extensions for MultiCharts. Since MultiCharts is a development platform, a custom script can be written, called a trading system or trading strategy. If a trader has an idea that needs to be developed, he/she can either write his/her own strategy in PowerLanguage or have his trading system developed by third-party developers.
Latest Version
The latest version of the software is 6.01, Build 3605.400 [8].
Release Versions
- MultiCharts 6.01 (August 9, 2010)
- MultiCharts 5.5 (September 10, 2009)
- MultiCharts 5.0 Gold (May 23, 2009)
- MultiCharts 4.0 (October 22, 2008)
- MultiCharts 3.1 (June 25, 2008)
- MultiCharts 3.0 (April 15, 2008)
- MultiCharts 2.1 (September 18, 2007)
- MultiCharts 2.0 (February 18, 2007)
- MultiCharts 1.9 (March 11, 2006)
- MultiCharts 1.8 (November 15, 2005)
- MultiCharts 1.7 (September 16, 2005)
- MultiCharts 1.6 build 50328 (June 28, 2005)
- MultiCharts 1.5 build 50309 (May 9, 2005)
- MultiCharts 1.1 build 40713 (July 13, 2004)
Complete release history along with details for each release can be found here[3]
References
- ^ MultiCharts Company Information, Official Site, Accessed on November 2, 2010
- ^ MultiCharts Review by Daman, Stock Trading Software Reviews, November 8, 2008. Accessed on November 2, 2010
- ^ Trader's Log Charting Software Reviews by Traderslog, TradersLog, Accessed on November 2, 2010
- ^ MultiCharts Reviews and Awards Accessed on November 2, 2010
- ^ T2W Award Winners Accessed on November 2, 2010
- ^ EasyLanguage Friendly description Accessed on November 2, 2010
- ^ Announcement regarding manual trading Accessed on November 2, 2010
- ^ Download MultiCharts, Accessed on November 2, 2010
External links
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