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Read Investopedia's review of TD Ameritrade. Technical analysis and statistical modeling of trading strategies is a key strength of the TradeStation platform. The brokerage grew out of technical analysis software development firm Omega Research, so technical analysis is in its DNA. The downloadable TradeStation 10 platform offers incredible charting capability based on tick data.
Automated technical analysis is built into the charting package, displaying technical patterns on the charts as they form. Web charting capabilities closely match TradeStation 10, including a new toolbar with access to adjust time frames, drawing tools, sessions, and styles. This is one of the best charting applications available from any broker, and it is especially notable for how well it is integrated with TradeStation's order management system.
TradeStation users can also create and backtest a trading system based on technical events.
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TradeStation's trading simulator has all the tools you'll find on TradeStation 10 and includes a large historical database for backtesting strategies. Read Investopedia's review of TradeStation. Tradier is an interesting beast, offering a brokerage-account management system, a trading engine, and some market data. Account settings and market data are based in the cloud, so customers can log into and trade from any of Tradier's developer partners. Using an application programming interface API , front-end designers can launch their own trading platforms, mobile apps, algorithmic trading systems, or other customized features for their customers.
The ability to attach a third-party platform to one's online brokerage account isn't new—quite a few of the brokers mentioned above can do it too—but Tradier is the first broker to make it the center of its business model. We will note in the next section whether a standalone technical analysis site can be bolted onto Tradier's brokerage management platform, enabling transactions while using analytical tools. ESignal is one of the venerable names in technical analysis, having launched in the mids.
The current version, eSignal 12, is a downloadable Windows-based software package offering technical analysis studies, backtesting of trading strategies, customizable charting, and data from global exchanges. Market Gear's charting capabilities allow you to analyze customizable indicators, view your trades, draw permanent trendlines, review past trades, and select from an array of time frames. The scanner lets you sort through over customizable technical indicators to find trading opportunities based on technical data. Write as many scans as you want and set your favorites for quick access.
MetaStock is another one of the longtime players in the technical analysis industry having been founded in the late s. It includes over indicators and line studies plus indicator interpretations that help you understand how to trade each indicator. For advanced users, The Indicator Builder lets you write your own indicators. You can build and backtest trading strategies on your own, or work through the strategies that are included in the package.
MetaStock can identify more than 30 candle patterns on a chart, giving you advice on how to interpret and use them. NinjaTrader offers a trading environment that you can use to build, test, and simulate a trading system for equities, forex, and futures before investing real money in a live market. NinjaTrader itself is free to use for advanced charting, backtesting, and trade simulation but there are fees for some indicators built by third-party developers. Slope of Hope was founded in after creator and perma-bear Tim Knight sold his charting site, Prophet.
It is now a destination for technical analysis, trading ideas, charts, and discussions with traders of all stripes. Many of the features, including a very powerful technical charting package, are free to use, and rival the capabilities of much more expensive sites. A key feature of SlopeCharts is SlopeRules, which lets you create and test a trading system using technical rules. Options traders will find some terrific analytical tools. Slope has launched native mobile apps for iOS and Android devices, allowing access to all posts and a subset of the tools from the website.
There are over technical market indicators and indexes, and real-time data coverage for a number of cryptocurrencies, including Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash.
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The ability to do technical analysis on cryptocurrencies is relatively unique. Version 20 has Windows, Mac, mobile, and web platforms available, plus you can connect directly to Interactive Brokers to place trades through TC Brokerage. TC combines charting, stock and option screening, and trading features, and you can use the practice version for free. Data feeds incur additional charges. Ticker Tocker , launched in , offers users a wide variety of trading services, including education, research, and automated trading resources.
You can follow other members who are signed in as Leaders, or use the strategy creation tools to generate your own trading system.
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You can backtest the strategies you've created with historical data to see how it would have performed. The charting system built in allows you to overlay price charts with technical indicators. You can join and use many of the features at no charge, though there are fees for premium services and access to experts.
Trade Ideas launched in , counts among its subscribers investors, traders, and market professionals. The system has alerts and filters that include fundamental, technical, social media, and other non-structured data sets and identifies short-term and swing trading opportunities. Subscribers can also create their own formulas as indicators and build custom, dynamically updating watch lists and real-time alerts.
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These trading systems can then be back-tested and traded in a simulated trading environment. Premium plan subscribers with connected Interactive Brokers accounts can send live trades via the Trade Ideas platform. The Trade Ideas platform links with most trading and charting platforms. The majority of Trade Ideas subscribers now leverage TI's HOLLY AI, an artificially intelligent trading assistant to identify trades derived from continually optimized strategies that are demonstrating a consistent performance edge in the market. Trade Ideas is downloadable to Windows platforms and also offers a web version for access on any device.
TradingView has over indicators combined with intelligent drawing tools that cover global stocks, currencies, and cryptocurrencies. The proprietary Pine Script language lets you change existing indicators or create anything from scratch. The public script library contains thousands of scripts published by other TradingView members. Founded in , TrendSpider has an impressive array of technical analysis tools designed to help you find, plan, and time your trades with greater efficiency and precision.
You can generate dynamic watch lists using the Market Scanner, which can search across time frames ranging from 1 minute to 1 month. There are several dozen scanners built in, or you can design your own. The platform is web-based with your customizations stored in the cloud. Trading Central. Charles Schwab. Your Privacy Rights.
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We also reference original research from other reputable publishers where appropriate. Based on Trading Central's award-winning macro methodology, each analysis provides the key technical details of an asset to help you gain a clear understanding of the scenario in the moment you need it. Trade Responsibly. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage.
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