Wed 04th Feb '15
When it comes down to trading software, Metastock is without a doubt at the top of the list of the big players in the trading software industry. As it goes, the fact Metastock remains a market leader and a featured-packed trading program can sometimes play against it. For many retail traders, they tend to put Metastock in the 'too-hard' basket. Most traders, professional and amateur, see the platform as being in the realm of nerds and computer programmers.
Metastock is clearly designed for the more experienced traders, but mostly becuase you need to defeat the misunderstandings about trading to really see its value. The analysis process incorporates over 130 different indicators through MetaStock's stock analysis tool. The list of technical indicators include Fibonacci, Bollinger Bands, Linear Regression, Simple Moving Averages, Volatility, Stochastic Oscillator and Chaikin's Oscillator. Each indicator is there to aid the trader in analysing a particular security. One con that we have discovered with MetaStock is that it requires a few different programs to execute a simple day to day task, so you could spend a long time doing anything new - because you don't understand which program to use or whether the task requires you to purchase a new 'add-on'.
In general, MetaStock is a higly complex trading system with absolutely tons of indicators, which makes it appealing to many traders. I'm sure you can do pretty much anything you want with it, but it is a program for someone who is into serious systems design and backtesting (if you manage to figure out the language).