Analysts who focus on the stock market or other financial markets need to have a way to chart, analyze and report on the various options and stocks out there. Therefore, technical analysis software in India will be able to help you automate those processes to make it simpler to create and understand them.
Features Typically Found
While some options will focus on one primary aspect, such as back testing, most products will use a combination of two or more features to provide you with a full package. In some cases, you can choose multiple package choices to create a complete automated trading system. Features can include back testing, charting, alerts, scanning, optimization, data feeds, indicators and more.
Back testing allows traders to test the timing strategies against history for price movement. You can compare strategies side by side, in a sense, to find out which one offers the most profit and maximum drawdown. This way, you can develop the right strategy based on your preferred criteria to generate the most positive return on investment.
Charting gives you a graphical chart that uses multiple interfaces. You can usually choose from candlestick, bar, line and other charts and can sometimes find it in real-time. The data can be presented various ways and can also show you historical data with different interval periods, ranging from months to mere seconds.
Alerts can be found with many versions because it is helpful to know about certain equities and know when anything changes immediately. For example, you may want to consider different options, warrants, stocks or currencies without having to scour for the information yourself, so these alerts can be set up and customized to let you know when something changes.
A scanner can let you scan the market for various options, currencies, stocks and more. This can help you identify the right investment opportunities for you.
Most options on the market will also provide some optimization tools so you can test the parameters to help develop the right investment strategy. In some cases, you may need to purchase an optimizer separately to get the best out of the product you currently have, but most versions now will come with some way to customize parameters and tell you how to do so. This can also be found with custom indicators, where you can create new ones, combine them or change them to fit your needs.
Technical analysis software in India can help you automate many daily functions. Visit Spider today to learn more about them or register for a free trial.