Frequently Asked Questions: Buying trading software
Should I buy trading software?
- Is there free online charting software available?
If you occasionally need to look up a few charts, then free online services may be all that you need as a reference tool. But if you are a frequent user -- say 15 minutes a day -- a more powerful, desktop application will save time and offer a wider array of tools.
- How much do desktop applications cost?
Some software may set you back several thousand dollars. Others, like Incredible Charts, can be downloaded for free.
- How can I tell which software will suit my needs?
Your needs are likely to evolve over time; so it is advisable not to spend a lot of money up front. Never purchase software without a free trial.
- Does Incredible Charts offer a free trial?
The latest Incredible Charts 6.0 can be downloaded for free. You will also receive a 30-day free trial of our Premium data service.
- Does Incredible Charts offer back-testing?
No. Back-testing is important if you are designing mechanical, rule-based trading systems, but not for traders who combine technical and fundamental analysis or who adopt a more flexible trading approach.
- Do I need back-testing software?
Back-testing is a specialized area and seldom done properly. If you are not an expert, find someone who is and pay them, if need be, to test your systems. You will save both time and money.
What are the pitfalls when buying stock trading software?
What does Incredible Charts offer?
- What does Incredible Charts offer?
Incredible Charts started in Australia in 2001. Key features are:
- Free charting software
- Proprietary indicators including the popular Twiggs Money Flow developed by Colin Twiggs
- Powerful stock screens for identifying trading opportunities
- Data delivered online to save time-consuming downloads and database maintenance
- Extensive trading education
- Free Trading Diary newsletter -- with more than 130,000 subscribers -- offers macroeconomic and technical coverage of global markets.
- How can I identify trading opportunities?
Use the powerful stock screens to find trading opportunities with trending, ranging or potential breakout stocks. See Getting Started with Stock Screens
for a quick overview.
- What indicators are included in Incredible Charts?
More than 100 indicators including:
- Twiggs Money Flow highlights buying and selling pressure
- Twiggs Momentum Oscillator measures trend strength
See our Indicator Guide
for a complete list.
- What chart types are available?
Closing line, Candlestick, OHLC, Equivolume and Point & Figure charts are available.
- What chart intervals are available?
Chart intervals range from 1 minute to 1 year. They are derived from the three available data-sets:
- Days >> Daily to Annual
- Hours >> 1 to 6 Hours
- Minutes >> 1 to 30 Minutes
To change the chart interval use the drop-down menu on the toolbar or go to View >> Chart Interval
on the main menu.
- Can I save notes to a chart?
Notes, captions, arrow markers, trendlines and trend channels are automatically saved in the open project. You can keep and customize several projects with different trading systems or studies if needed.
Does Incredible Charts supply data?
- Does Incredible Charts offer data?
Incredible Charts offers an online data feed with the software.
- What is the data coverage?
Incredible Charts provides data for
- NASDAQ, NYSE, OTCBB and OTC Markets
- TSX and TSX Venture exchanges
- Forex and Precious Metals
- Dow Jones, CBOE and World indices
- Is your data compatible with other software?
We are only licensed to display data, not to distribute it.
Our data is only compatible with Incredible Charts software. You cannot export data from Incredible Charts for use in other charting software.
- Can I import data?
You can import data from files on your computer if they are in the correct format
You can also import free, unadjusted data directly from Yahoo
, although updates can be irregular.
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