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Is MultiCharts the trading platform you need?
MultiCharts is a versatile trading platform designed by the same creators of TradeStation. Dedicated to professionals who take their investments seriously, it supports over 10 well-known brokers, provides access to more than 20 data feeds, and includes at least 300 strategies and indicators to facilitate comprehensive technical analysis.
MultiCharts Analysis:
Currently in version 12, this advanced market analysis software is designed to automate strategies across multiple brokers simultaneously, perform backtesting, and customize high-definition charts. Ideal for day trading and longer-term trades, it uses EasyLanguage, C#, or Visual Basic, allowing you to program the parameters you need exactly as you wish.
The choice between Multicharts.NET and the original version depends entirely on the functionality you're looking for. The former offers the same advantages as the latter, with the added benefit of being compatible with C# and Visual Basic. If you prefer these programming languages over EasyLanguage, you can get more out of it.
I believe it's a solid and flexible platform with many technical tools; however, the best thing is for you to experience its capabilities firsthand. Among its main features, I must mention:
- Indicators and Strategies: Thanks to its development and support within the trading community, this software offers an extensive collection of free strategies and indicators. You can also create your own or import additional ones.
- Market Scanner: The ultimate tool for finding opportunities, and this tool is no exception. You can filter over 5,000 instruments to match your search criteria. It also allows you to include alert indicators and create your own charts with the corresponding symbols for a more detailed view.
- Dynamic portfolio backtesting: This feature is designed to apply strategies to symbols on each bar, establishing optimal trades at any given time. Ideal for technical analysis, it helps identify the most profitable strategies.
- Charting: The essence of MultiCharts lies in its ability to provide detailed and accurate visual information. This is achieved through multi-period trading analysis, extensive chart interaction capabilities, and rapid response times for making critical decisions when needed.
- EasyLanguage Support: Considered an industry-standard programming language, it has been in development for at least 20 years. Its versatility allows you to import any code, create studies, or modify them according to your preferences. It also boasts one of the largest libraries of trading ideas available.
- Genetic optimization of strategies: This option includes a complex algorithm that tests inputs in the same way as biological evolution. More efficient than testing thousands of combinations, it saves a lot of time in finding the optimal parameters.
Becoming familiar with MultiCharts will largely depend on your knowledge of EasyLanguage and your experience as a trader. Instruments like futures and options require more complex analysis than Forex. Therefore, their use is subject to your goals and the trading style you are most comfortable with.
If we weigh up the functionality, backtesting options, programming languages, number of indicators/studies, and automation, we can say that it has a medium-to-high learning curve. My recommendation is that if you're starting out, you dedicate a reasonable amount of time to learning it.
After-sales service
One of this company's strengths is its customer service after you purchase the program. This means you can request assistance via email, chat, phone, forum, or submit a support ticket. It's an after-sales service operating during US East Coast business hours, characterized by its efficiency and excellent customer service.
MultiCharts Price
Getting all the benefits of this renowned platform is very easy. You have a range of plans to choose from, depending on your budget and how long you plan to use the software. The main options are:
- 1 month. With this option you pay $97 per month.
- 3 months. This option costs you $89 per month.
- 1 year. This plan gives you permission for 1 year and costs $66 per month.
- For life. With this option you get 1 year of FX data free (2 years of historical tick data and 11 years of bar minutes) and it is priced at $1497.
A MultiCharts license can only be used by one owner on one computer or device, and you can pay with Visa, MasterCard, bank transfer, PayPal, and more. Additionally, if you want to switch to MultiCharts.NET, they offer a special one-time fee of $199 to complete the transfer.
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Trial version
For both the traditional MultiChartsand the .NET version, you have the opportunity to test whether it's the right system for your investment strategies. From the official website and through various brokers, you can subscribe to the trial version, which offers a 30-day trial period.
This option gives you ample time to thoroughly test the functionality and versatility of this multi-award-winning software. With no operational limitations, you can trade live, use any broker or affiliated data feed, and also access EOD information from MSN, Yahoo, and Google at no extra cost.
Conclusions on MultiCharts:
I can guarantee that everything they say about MultiCharts is correct. Essentially, it's a very flexible platform with great technical tools and significant potential for creating automated strategies.
Although it is focused on professional traders and brokers, it can also be used by less professional traders looking to improve their trading.
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Good afternoon,
Is Multicharts available in Spanish?
Hello Tabugaba,
Unfortunately, I haven't seen that option. Perhaps another trader can clarify this for us.
Greetings
I understand, but I just saw Ferrán's course syllabus and wow, man, what a syllabus! I can tell you right now it's the most comprehensive I've ever seen, and I've seen a lot of course syllabi. What really impressed me was the price, which is way below what many others charge. Look at the irony: two of the best courses for learning professional trading are also two of the most affordable. I'm talking about Enrique's Price and Volume course and Ferrán's. Thanks for the recommendation; I think I know which course I'll take! 😄😄👏👏👏
Hello Alejandro,
I highly recommend this course, and the price definitely helps 🙂 – you'll have a chance to tell me what you think! (I'm sure you won't be disappointed)
Greetings
Thank you so much for the recommendation, I'll take a look. One last question: why don't you recommend Oliver's course?
Hello Alejandro,
Oliver Velez's strategy was originally designed for stock trading, and while I know some colleagues who use it with varying degrees of success, I don't think it's well-suited to other markets. Trying to analyze each candlestick individually with the number of trading algorithms available today seems a bit naive to me. You'll find many people analyzing this strategy on YouTube; check out the videos and give it a try. Let me know how it goes, because as I always say: the numbers speak for themselves. Just because this strategy doesn't align with my understanding of trading doesn't mean it can't be the one you're looking for 😉
Greetings
Go ahead, you might end up liking it, hehe. On another note, I wanted to ask you a question about trading courses. I took Enrique Díaz Valdecantos' Price & Volume course, a tremendous course. I was thinking of taking Oliver Vélez's course to further my knowledge, but I saw in your analysis that you don't recommend it as much. What other course would you recommend to expand my knowledge, especially if it's about day trading with price and volume, which is what I enjoy?.
Hello Alejandro,
Valdecantos' course is great. Given your background, I think you could really benefit from Ferran Font's course; it will show you a different world related to trading that complements Valdecantos' course very well. I, at least, found that course fantastic.
Greetings
I like this platform, especially because it offers something that NinjaTrader, at least, can't: the ability to have multiple charts from different timeframes or markets on a single screen, which is essential for me. Regarding its price, there's an American broker called AMP that offers it completely free, and they also offer a demo account with real-time data. It would be great if you could talk about that broker; I consider it one of the most competitive in terms of commissions, and it also has a large community and excellent support in both English and Spanish. Best regards from Colombia.
Hello Alejandro,
Thank you so much for your great contribution! 🙂 – I'll look for information about the broker you mentioned; I wasn't familiar with it.
Greetings