MetaStock has a variety of stock analysis tools that are designed to assist the investor/trader in locating opportunities as well as entry and exit strategies in the market. Three important tools are employed to assist the investor in this effort, which are Scan, Analyze and Test used to identify potentially profitable stock trades. MetaStock is recognized by TopTenREVIEWS as a top notch stock software based on their robust system tester and stock searching capability features.
The prices vary for the software and monthly subscriptions for software and streaming data. For the software package alone, designed to be used with Quote Center, the software is a one-time fee of $1395.
MetaStock offers the user a buffet of charting analysis tools. They also provide an online instructional module called The Expert Advisor, which helps educate the chart user on how to best use the indicators as well as offering a variety of useful suggestions and tips. This is a terrific tool for novice traders/investors, because many questions can be answered within the platform.
MetaStock provides the user with key and timely stock alerts. These alerts help inform the trader/investor when a particular stock has met a predetermined set of conditions. In addition, data and news stream in real time within the MetaStock platform. The trader can even have it setup where they can set conditional orders that will execute automatically while not watching the market.
MetaStock has an abundance of technical indicators that the user can apply to their stock charts. For instance, some of the technical indicators include Fibonacci, Bollinger Bands, Linear Regression, Simple Moving Averages, Exponential Moving Averages, Volatility, Stochastic Oscillator, Relative Strength Index and Chaikin’s Oscillator. Each indicator is designed to help the trader analyze a particular stock.
The package has real good searching capabilities using MetaStock’s Explorer tool. This scanning software analysis tool is used to search the market based upon the trader’s criteria. The scanning tool assists the user in finding opportunities by sorting through the various stocks given a certain set of filters. For example, the Explorer tool will take a preset scan such as a moving average crossover buy scan, and run the scan on the Standard and Poor’s 100. The moving average crossover scan will look for a buy signal for stocks in a particular market. The user is then presented with a filtered list of those stocks that meet the conditions. Once the information is displayed, a chart will appear and if six securities are selected, six charts will be generated in a single layout.
The MetaStock package has an excellent backtesting tool that allows the user to test numerous trading systems and strategies. Once the user has developed and fine-tuned their trading system, MetaStock allows you to scan your database of thousands of stocks looking for profitable trading opportunities. The system testing feature provides the user with the capability of backtesting a trading system under the conditions in which it will be traded.
The results of the list will show net profit, percent gain, number of trades, trade profit and loss and the average profit and loss per dollar invested. The results of the list will exhibit net profit, percent gain, number of trades, trade profit and loss and the average profit and loss per dollar allocated. In addition, MetaStock provides a large library of built-in trading systems.
MetaStock gives the user support from blogs, online forums, online support and newsletters. The package has a great Help tool. If you are new to the system and are unsure of what the particular study is designed to show, the investor can click on the item of interest and a drop down menu will appear. Within the drop down menu is the Help menu. The Help menu will then provide a detailed definition of the item of interest. One of the better features of the Help tool is that it can be used anywhere within the system.
MetaStock stock analysis software package’s interface is very user friendly and intuitive. In addition, the interface and accounts are fully customizable to meet the needs of the user. MetaStock gets a high rating from TopTenREVIEWS led by its Expert/Advisor and Help tool features.