Amibroker and Metatrader 4 or MT4, both Technical analysis Platform found for financial analysis, which primary used for technical analysis in financial instruments, like equity spot and future, commodity and forex. These software’s come with pre-loaded technical analysis tools and coding features that allows traders to create their own trading system, also plan of action (Trade). Build in indicators, also help traders, where to open trade, stop loss also target point. Some of the popular charting platform include the Metatrader software (MT4 and MT5), Amibroker and Ninjatrader. All of these offer a reasonable good amount of charting tools which are simple to use, also user friendly, but choice between, be a hard task, its will depend on an individual trader’s preference and the instrument a trader wishes to trade in.
Metatrader 4 and metatrader 5 platform is primarily used for automated trading and most popular trading terminal deals in currencies. More than 90% of forex traders around the world uses MT4 or mt5 uses this charting software for their direct live data server connectivity and easy to use interface.
MT4 and MT5 uses MQL Language (similar to C/C++ programming languages) and is available in two versions, MQL4 and MQL5.
Its developed by MetaQuotes Software. This software comprises two components, a server component and a client component.
Charting Software and Their Features
MT4 Data feed, NSE data feed, Mobile Data feed,
Some important features of this software are:
Amibroker is a leading charting platform which is built for traders using technical analysis This software allows traders to create detailed graphs of the stock price and volume, and then carry out an analysis of the same. It uses Amibroker Formula Language or AFL use to create trading strategies, indicators on the platform. Though AFL is mainly used to historical data analysis, now a days many traders used for algorithmic trading too.
AMIBROKER data feed for NSE, MCX
Amibroker is ideal for Charting platform for those who performing custom researches. The main features of this software are:
As per excellent features of these two-charting platforms, it may hard take decision which one the best.
Though Amibroker has multiple database support, but ‘data directly from the server is not possible and this often leads to delays in getting the data. This is not good for professional and regular traders.
To avoid this situation, many traders use an MT4 to stream real-time data. As Metatrader directly server driven data, chances of delays less. Also in case MT4 community far more active than amibroker this often get various indicators free of cost also if any problem arise they can get support from forum. Also client version of MT4 free.
Now its depends on traders , if anybody uses Amibroker, they used to, and understood Amibroker, but if new and need speed may go for MT4.
But the bottom line is that the choice for the best charting software will depend on a trader’s individual trading style and needs.
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