Tradecision Pro RT 4.5.213
Tradecision® has more than 100 technical indicators that measure trends, momentum, and volatility. You can add them to charts or include them in back-tested strategies, money-management rules, neural-network models, and alerts. You can create new ones from scratch or change their parameters.
Tradecision includes studies that identify candlestick formations (doji, hammer, evening star) and one-day patterns (inside and outside bars, gaps, run days). In addition, the platform spots plots trends, pivots, reversals, and Elliott Waves automatically.
Tradecision® has more than 100 technical indicators that measure trends, momentum, and volatility. You can add them to charts or include them in back-tested strategies, money-management rules, neural-network models, and alerts. You can create new ones from scratch or change their parameters.
Tradecision includes studies that identify candlestick formations (doji, hammer, evening star) and one-day patterns (inside and outside bars, gaps, run days). In addition, the platform spots plots trends, pivots, reversals, and Elliott Waves automatically.
Functions, Indicators and Studies
Although users of the standard version of Tradecision cannot develop indicators and studies with the help of Improvian, they can fall back on nearly 100 pre-defined indicators. Among them are many well-known standards such as RSI or MACD, but there is also a large selection of less familiar indicators such as the Kirshenbaum Band, the Hurst Exponent or diverse Elliott Wave indicators just to name a few.
Working with the indicators is easy and they can insert directly in the main chart window or appear in subcharts within the main chart. A maximum of six subcharts can be displayed in one main chart, but several indicators can be overlapped in any one sub or main chart so that there is no limit to the number of indicators that can be used.
Studies are based on functions or indicators but as opposed to the indicators, studies only deliver a Boolean statement, which is then used to create symbols in the main chart. Unfortunately these symbols appear only above the chart which can be confusing to users when other indicators are displayed.
Analytical Studies and Elliot Wave Analysis
Tradecision comes equipped with eight special and very unique analytical studies: Autotrends, Pivots, Single Bar Patterns, Reversal Patterns, Fibonacci Cluster, Noise Filter, Elliott Wave, and the Ingenious Trendline.
In order to calculate and draw reversal formations (double tops/ bottoms, head and shoulders, V-tops/bottoms), Elliot-wave patterns, and Fibonacci patterns, Tradecision uses a proprietary algorithm to determine pivot points. In association with the Remove Noise study, users are provided with some very powerful tools here. To reduce short term market fluctuations, a noise filter can be used with three different levels of noise reduction to smooth price action.
The Fibonacci Clusters divide charts in to equal clusters depending on the selected time period. Pivot points define the cluster limits. For instance if a price range amounts to 1000 points and the user enters an interval of 100 clusters, the software divides the range into intervals of ten points each additionally adding Fibonacci Retracements. The automatic Elliott-Wave Analyse allows the user to define analysis depth (minor, intermediate, major, and global), number of viewed bars, and the depth of wave 2 and wave 4 (in %).
The Ingenious Trendline is a new type of moving average calculated with a proprietary algorithm that experienced users of the program swear by.
Neural Networks
Neural networks allow creation of a price prognosis for securities (or other price arrays). Users "feed" the network model with information such as indicators that should be considered, but also finance and economic data such as interest rates, oil prices, Euro/Dollar rates, etc. All versions of the software can read this information from external text files if desired.
Neural networks are created with Tradecision's Model Builder and its program Assistant, which guides users through the necessary steps. After the network has been created, users can apply the Money-Management Editor to add money management and stop rules to the model. The Professional versions additionally allow network results to be optimised with so called genetic algorithms. Training the networks is done completely automatically. It was a pleasure to notice that optimising the networks did not produce unrealistic results and the risk of over-optimising seemed very low, hinting at why the AI-algorithms from Alyuda are so popular.
Trading System Development
Tradecision's Strategy Builder is used to develop trading systems and provides users an impressive amount of functionality. As with other trading software, users can initially define conditions for long entry and exit, and short entry and exit with the help of functions, indicators and variables for optimisation. Exchange orders can be executed as market, stop, stop-limit and limit. Special stop rules can also be entered. What stands out here is the Money-Management-Editor. It allows calculation of position size according to Optimal F, Kelly, Fixed Fractional, or Larry Williams Formulas. Trailing stops, stop-loss and profit targets can also be easily entered through an entry dialog requiring no programming.
NeatScan
NeatScan is a type of applet for Tradecision that sells separately for $99.00 dollars, but is already integrated in the program. This tool scans the Data Manager's symbol lists according to specific criterion. The number of possible scan criterion is very large and, among other things, the program's analysis studies can also be used. Professional version users also have the option of defining their own criterion. Real-time lists automatically update and the scans can be run with new intervals each time if desired. Charts can also be called up directly out of the scan results list.
Alyuda does not provide a test version of Tradecision, but there is a 30-day money back guarantee if the software does not appeal. For more information visit
http://www.tradecision.com
Summary
Working with this program is fun. Tradecision shines with an intelligently designed user interface, easy operation, and very interesting studies and analysis methods. The neural networks deliver very good results without leaving the impression of over optimisation. The programming language Improvian takes some getting used to, but has the advantage that users without programming experience are quickly able to learn enough to program their own functions and trading systems. It would be nice to see the addition of more functionality in future versions.
In all, Tradecision is a convincing product with a very good price to performance ratio.
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