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i think the feature i would miss the most is the Position
Management. I also liked the WLD layout and editor. just started
evaluating Amibroker and the editor there seems/feels like just a
textbox..a large one.
I have some systems i would like to try and convert to AmiBroker.
will see what that entails. Questions:
1) can you annotate your charts programmatically in AmiBroker?
2) if position management functions are not available, how can you
keep track of open trades and such things as profit, bars, MFE, etc?
3) writing Systems. Each system is represented by an AFL file,
correct?
4) can scripts be reused? for instance, i have some Utility scripts
i use in WLD. i can include them using the "$I" include instruction
and this gives me access to all functions in that script. Can a
similar thing be done in AmiBroker?
5) Can anyone point me to any recent reviews of AmiBroker?
thanks
--- In amibroker@xxxxxxxxxxxxxxx, Daniel Ervi <daniel@xxxx> wrote:
> Hi,
>
> I'm still around, and probably much more active with AmiBroker
than I have ever been. The acquisition of Wealth-Lab by Fidelity
tipped the scales back to Amibroker for me. I've been porting all
my WLD systems and DLLs back to AmiBroker. Now that AmiBroker
supports automated trading, at least in beta format, I have no
compelling reason to stay with WLD, and many reasons not to.
>
> However, I will still miss a few things from the WLD platform:
>
> - Better graphics support. This means the Windows Device
Context drawing add-in API, along with all the easy WealthScript
DrawCircle, DrawHorzLine, DrawText, DrawRectangle, DrawTriangle,
etc, functions. All my addin DLLs used the Windows API directly,
which was the single biggest hurdle for me in porting my material
back to AmiBroker. Having this available would allow such a rich
set of drawing features to be made available, the platform would
truly become unlimited. LineArray() helped, but it allocates a
complete array for each trendline I draw in my pattern DLL routines,
which slows things down. Tomasz has promised this in a future
release, and he does keep his promises so I am happy to make do in
the mean time.
>
> - Position management functions - I'm guessing this would be
tough to implement in AmiBroker as it might require changes to the
backtester, but from a traders viewpoint it really does simplify how
we code our systems. PositionBasisPrice, PositionMAE,
PositionEntryPrice, PositionActive, PositionExitBar, PositionProfit,
etc, really make evaluating a trade simple, and you don't have to
remember the boolean state of your system. Scaled exits with
SplitPosition was a bonus too.
>
> - Separate position sizing scripts. I loved this feature
most!!! It made it so simple to code five or six different MM
schemes (Volatility, % risk, Round lots, Streaks, etc.) and then
apply it to any system simply by clicking. The influence that MM
can have on a system is phenomenal, and I still think WLD is the
undeniably best way of exploring this. AmiBroker is capable of all
the same tests, but your MM and trading scripts are tied together in
the same AFL. If you write a new script you need to integrate all
your MM code again, or maybe build an #include hierarchy for it. It
is doable, but point and click it much easier, and allowed for rapid
evaluation of different schemes...
>
> Having addressed what *I feel* are AmiBrokers shortfalls, there
are so many features that I missed, that I have rediscovered:
>
> - I missed how FAST Amibroker is. My pattern engine can blow
through 100's of stocks in just seconds. WLD with the same pattern
engine, would take 5-7 minutes for a scan of 25 patterns against 500
stocks.
> - I missed AFL brevity. Testing new ideas is so quick using AFL.
> - I missed the Plugin API. Given this will only appeal to
programmers, but it is such a joy to use with the syntax
highlighting and tight integration. Now that I can use my Delphi
code via the API I am a very happy camper!
> - I missed the native AddToComposite feature. This is the best
implementation of such a feature I've seen in any package I've ever
used.
> - There is more, but I don't want this to sound like a
commercial...
>
> I'd suggest trying the Amibroker package out. Go back and read
some of the posts here, maybe try some of the AFL systems posted at
http://www.amibroker.com, talk to a few other users, and then form
your own opinion. We all use the package differently, much like we
all trade systems differently. What works for me might not be a fit
for you.
>
> If you don't have any software whatsoever, at $129.00/$199.00,
nothing can touch Amibroker. I compare WLD and AB only because I
already own both. If I had to buy only one again, AB is simply a
much better deal.
>
> Daniel
>
>
>
> On Wed, 20 Oct 2004 03:37:18 -0000, virtuouz_pagan wrote:
> >
> >
> > daniel,
> > if you are still around. i would very much value your evaluation
on
> > the latest version of Amibroker or any other software.
> >
> > currently i have used WLD, NeoTicker and to lesser degree,
> > AmiBroker. WLD i am most familiar with, but with fidelity taking
> > over..time to move on. NeoTicker is very powerful, but support
and
> > user community is very lacking.
> > that leaves AmiBroker, which i am hoping you can give an update
> > on...
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, Daniel Ervi
<daniel@xxxx> wrote:
> >
> >> Sorry for the late reply, but I missed this thread.
> >>
> >> I own both AmiBroker and Wealth-Lab, and have used, and still
use,
> >>
> > both pretty extensively. Below are the pro's and cons for each,
> > based *on my usage* of them and their suitability to my needs.
> > Please don't flame me, as this is based on my perceptions, and
> > yours will probably differ. :)
> >
> >>
> >> Amibroker Pro's:
> >>
> >> - Fast. Incredibly fast!
> >> - Automation interface is very complete, and Plugin API is
> >>
> > excellent
> >> - Built in Composite support.
> >> - Great for rapid indicator/system testing because of the simple
> >>
> > array notation
> >> - The latest betas have portfolio testing which is truly
necessary
> >>
> > IMHO
> >> - Excellent support, with thorough answers within hours
> >> - The community following (this list) is a great resource for
> >>
> > newbies of both trading and programming
> >> - The third-party addins add some really great features and most
> >>
> > are free
> >> - Tick-by-tick updates of indicators is great for monitor
systems
> >>
> > in an auto-trading environment
> >> - I prefer the C++-style syntax over the Delphi syntax
> >>
> >>
> >> Amibroker Con's:
> >>
> >> - No Quote.Com support. I know the developers API is expensive,
> >>
> > but Quote.com is the only data provider to supply > 120 days of
> > historical 1 min data and unlimited symbols. It goes back to
1997
> > for most stocks and indexes on a 1 min basis. I have >10 gigs
of 1
> > min data for the SP500 components at my disposal thanks to
> > Quote.com.
> >
> >> - Limited drawing support. What is here is great, but there
are a
> >>
> > few things that would make it superb. Being able to plot a
> > triangle or box would allow one to plot Gartley's or highlight
> > trades with a green or red box based on whether they made a
profit
> > or not, or maybe highlight the opening range in orange until it
is
> > over. Changing background colors would allow gradients to show a
> > condition getting better or worse. You get the idea...
> >
> >> - No position management functions. I find it harder to program
> >>
> > systems when you rely on a simple boolean on/off for entry/exit
> > signals. In WL, once a position is created, you can use
position-
> > based functions like PositionEntryBar() or PositionActive() or
> > PositionMFE() to loop through a collection of positions and apply
> > simple tests/exits to them. Multiple concurrent position systems
> > are greatly simplified this way as trade management is done on a
> > trade by trade basis. FWIW, this would eliminate the need for
> > functions like ExRem().
> >
> >> - No native class/object support. This can be done via the API,
> >>
> > so it's not that big a deal. But for complex scripts (ie a
native
> > AFL genetic algorithm implementation via includes) this would be
a
> > life-saver.
> >
> >> - No auto-trading interface/API. This for me is the biggest
> >>
> > reason I have WL.
> >> - Position Sizing algorithms needs to be done via your
script. WL
> >>
> > allows you to separate the Positions Sizing from the trade
> > entry/exit scripts. This makes it easy to try various position
> > sizing algorithms without the need to change any code.
> >
> >> - No built in debugger (ie breakpoints, etc)
> >>
> >>
> >> Wealth-Lab Pro's:
> >>
> >> - Native auto-trading with attached portfolio management. This
> >>
> > was implemented really well because of the attached portfolio,
and
> > I have used it with over 20 positions auto-trading at once on a 5
> > min timeframe. It didn't miss a beat.
> >
> >> - Rich set of graphics features. I have some pretty advanced
> >>
> > plots that highlight all types of scenario's during the trading
day.
> >
> >> - Built in debugger, with breakpoints and the ability to look at
> >>
> > variable contents
> >> - API's available for most areas of the program, including a
> >>
> > broker interface
> >> - Language is based on Delphi/Pascal (OOP) and allows for
> >>
> > classes/inheritance/polymorphism/etc.
> >> - Ability to download new "chartscripts" (systems, indicators,
> >>
> > etc) via a menu option. This is a great *built-in* repository
for
> > those starting out, or for those looking to explore other ideas.
> > Simply refresh the system by choosing "download chartscripts"
from
> > the menu.
> >
> >> - Position Sizing is a separate script. Once you see the
> >>
> > difference that position sizing can have on a strategy, this
> > feature becomes critical. You can apply any sizing strategy
during
> > system ranking/optimization/portfolio simulations/etc. This can
> > dramatically change the results of these methods.
> >
> >> - Custom optimization fitness functions. You can program an
> >>
> > expectancy function and use it as your optimization criteria for
> > example.
> >
> >> - Full suite of position management functions.
> >>
> >>
> >> Wealth-Lab Con's:
> >>
> >> - Slow. Molasses slow compared to AB. If you have greater than
> >>
> > 100,000 bars, forget about it.
> >> - Indicators don't update on tick intervals. The last price bar
> >>
> > (aka ghost bar) does, but nothing else.
> >> - Plugin API is based on COM (slower) and doesn't allow for
native
> >>
> > syntax-highlighting
> >> - You can't import ASCII files to a faster native binary format.
> >>
> > So every system test you run has to re-parse the data, which can
> > slow you down dramatically on large datasets.
> >
> >> - Simple/Rapid indicator and system development is slower
compared
> >>
> > to AB. The Metastock-style array notation in AB is a huge
> > timesaver. There are wizards in WL3 to help with this, but I
still
> > find the process cumbersome compared to AB/MS.
> >
> >> - You can't auto-trade on less than 1 minute bars. It would
have
> >>
> > been nice to trade the ES or NQ on tick bars, but it can't be
done
> > yet.
> >>
> >>
> >> These are *my* impressions on the two packages. I use AB
whenever
> >>
> > I need to rapidly test an idea, or if I am trying to run a test
on
> > a large set of data. I then move to WL to refine the ideas,
apply
> > position sizing, and then deploy them via the auto-trading. So
for
> > me at least, the two complement each other very well.
> >
> >>
> >> Hope I don't stir up any trouble with this post. I just wanted
to
> >>
> > stress that both packages have there place, and although AB is
> > great in it's current state, there is always room for
improvement.
> > Or else TJ would have retired ages ago, right TJ? ;)
> >
> >>
> >> Daniel
> >>
> >>
> >> On Mon, 10 Nov 2003 03:44:07 -0000, seneca_kw wrote:
> >>> I enoyed the recent informative thread on AmiBroker vs
> >>> Metastock. I'd appreciate a similar comparison with Wealth-
> >>> Lab. I searched the archive but found no mention of WL.
> >>>
> >>> I'm not expecting a point-by-point rundown, but for those who
> >>>
> > have
> >>> tried both, is there one feature or another that really was a
> >>> difference maker?
> >>>
> >>> Thanks,
> >>> Wayne
> >>>
> >>>
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