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I am considering trying Metastock and before going through the effort of trying to learn the MSFL and rewriting my amibroker files, I would like to ensure a few things are compatible.
The main reason I want to switch is to have access to high quality EOD data for European and Asian equity data. Amibroker works well with telechart for US data, but I do not feel comfortable with the way it accesses foreign data through yahoo and amiquote. It appears that the reuters datalink will provide the worldwide EOD data I am looking for. Before expanding my trading, I need to be confident that what I think works is based on accurate data.
Can Metastock Scale into a position? I trade pullbacks with 20 slots of 5% equity each. If a position pullsback even farther the day after I buy it and maintains so other parameters, will I be able to write code to double the position size?
Can Metastock optimize? Can I put in variables and have the program run serial backtests changing the variable and then provide me with a performance report?
Thanks,
John
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
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Location: Perth, Western Australia
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Hi John, Welcome to the Forum. MetaStock is a charting platform, it draws charts and that was all it was ever designed to do. In order to support this, it contains a scripting language that is "rudimentary" but fulfils the needs of most chartists. When the user's requirements extend beyond the capability of this simple scripting (note; some users can push this extreme a long way), users with the MS Developers Kit (MDK) can write their own libraries of functions in C/C++, Pascal, PowerBasic etc and exploit these significantly more powerful languages. MS does not support automated trading, although there are some add-ins which includes this functionality, or with the MDK you can of course write your own. Amibroker is also a charting package, but it is a lot more complicated than MS. It goes a long way to being a trading platform as well. It's programming language is (loosely) based on C/C++ and has a library of thousands of functions. AFL is a programming language, MS is a scripting language. This is an important difference. However, just about anything which can be achieved in AB can be achieved in MS, there are differences in how easily it achieved. jmdeacon wrote:Can Metastock Scale into a position? I trade
pullbacks with 20 slots of 5% equity each. If a position pullsback
even farther the day after I buy it and maintains so other parameters,
will I be able to write code to double the position size? The short answer is yes, but the script to do this may be a little more convoluted than the AB version.
jmdeacon wrote:Can Metastock optimize? Can I put in variables and have the program
run serial backtests changing the variable and then provide me with a
performance report? Again, the short answer is yes, but the reports from the MS Enhanced System Tester are not as detailed as the reports from AB, the key information is still there but presented in a different way.
The best suggestion I have for you is to contact sales@equis.com and ask them about try-before-you-buy. MS EOD is for EOD, MS PRO is for intraday and EOD, so make sure you get the right version; PRO versions come in two flavours depending on the RT data feed provider. You will find MS runs easily right out of the box with a simpler learning curve than AB. The MS Users Manual is significantly smaller than its AB counterpart. As I hinted at earlier, don't be fooled by the comparitively simple MS formula language, many people push this to the limits and are able to get some amazing things done.
Hope this helps.
wabbit [:D]
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