MetaStock Professional V. 7
Written: Mar 24 '01
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Pros: Extremely comprehensive for the believer in technical analysis.
Cons: The mathematics leave something to be desired.
The Bottom Line: For the true believer, this program is a simple way to bring up the invocations and incantations.
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| lucie30's Full Review: MetaStock |
This new version, MetaStock Professional Version 7, includes all of the Version 6.5 extensive charting and analysis capabilities and is designed to work with a full time data feed such as BMI and Signal Online from Data Broadcasting Corporation. Signal Online provides continuous market data over the Internet, without special receivers. With these real time capabilities, Metastock Professional Version 7 can show more than 65,500 points per chart, so that every move in security price is visible.
Free up-to-date information is included in the package using special Internet sites developed exclusively for Metastock users to access current quotes, Reuters news and option chains. A link to the Equis web site gives users the complete text of the book, Technical Analysis from A to Z, an excellent tutorial and reference source for those involved with or learning technical analysis.
If you had a sure-fire method for predicting stock market performance, whom would you tell? Keep this question in mind as our prime thought while we proceed with this exposition. If you are a true believer in stock market technical analysis, MetaStock, by Equis International (Equis has recently been acquired by Reuters) is your kind of program. If you are totally opposed to the concept of technical stock market analysis, you probably will never be a MetaStock user. If you really don't know much about stock market technical analysis, you might be very interested in this program as a learning tool to see if you really want to use these techniques to guide your investments. Since a great deal of stock market activity is fueled by opinion, and so-called technical analysts influence a great many people, you will be well served to understand and be able to create the various tools of the trade.
The minimum requirements for installing MetaStock Professional Version 7 are: Pentium 90 MHz, 50 MB hard disk space, 32 MB RAM and a compatible real-time datafeed (Signal via FM, satellite, cable or Internet; BMI by satellite or cable). As with most Equis products, this one worked right out of the box on my Pentium 233 system with a 56K modem connecting to the Internet. The program itself is extremely user friendly and all of its capabilities can be accessed via the mouse. This is truly a professional grade program. If you are a true believer in technical analysis, you have found Nirvana.
Equis has provided the chartist with all he could possibly ask for. Most of the recognizable chart forms are here. Things such as resistance lines, support lines, trendlines, moving averages and other tools of the tea leaf readers are available and easy to use, requiring little more than drag-and-click ability. Equis supplies a full CD of historical data from which to generate the charts as well as the on-line connections to upgrade the database. The database is also the source for calculating the myriad measures of technical analysis. These items are used as indicators of individual stock and total market trend and prediction. The financial media and general press as measures of the state of the market often quote some of these measures. Do you really know how popularly quoted measures are calculated? Things such as the Dow-Jones Industrial Average, the S&P 500, tick, trin (Arms Index), resistance, support and other arcane measures are defined and readily calculated within Metastock and its excellent manual. For those who wish to learn about technical analysis, this manual is a great text.
Just about any type of chart is available and with the Internet integration, you can right click on a chart, select the Internet option and receive quotes, news and option symbols direct from Reuters, without any charge. Company information and intraday charts are also available.
This program is fully compatible with Microsoft products so that you can cut and paste bidirectionally into Excel or Word.
MetaStock 7 is a great program for those who desire to do technical analysis, or those who truly believe. It is ideally suited for the day trader. There are accommodations for upgrades via the Internet, and a huge CD-ROM database is included. There is an included 550-page manual that will get even the novice off and running. The HELP menu even includes an interactive visual tutorial. For those into technical analysis, MetaStock has long been the class of the field. The retail price of MetaStock Professional Version 7 is $1495.
Recommended:
No
Amount Paid (US$): 1495
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lucie30
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Location: A small island in the Intercoastal.
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About Me:
3 University degrees. 30+ years in Electronics R&D. Registered Professional Engineer. Graduated USAF Flying School.
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