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I have experience with system development on Wealth-Lab 2.1 and
Tradestation (2000i/6/7) platforms.
WL is a powerful COMPLETE AND STAND ALONE package that includes its
own data sourcing modules (free yahoo eod, realtime esignal/quote.com
etc.) and basic charting capabilities. Has scanning and simulation
capability across multiple databases (of symbols) known as Exploration
in METASTOCK.
If you are developing proprietary trading systems, this will be your
choice, bonus is the loyal and very supportive user community and top
management of Wealth-lab that supplies continuous free and working
scripts of trading systems. The WL script syntax is more complicated
as it is designed to develop mechanical trading systems that your
imagination can come out with.
Tradestation is the KING of trading system development software as it
is use by professional brokers and traders with its historical library
of developed commercial and non-commercial trading systems. Its
main difference is its exploration capability, and the easylanguage
code is designed to work on a chart rather simple data (like WL or
METASTOCK).
The library of tools (indicators, functions, showme, painbars,
signals, systems) is applied on the chart on screen. NO CHART NO
SYSTEM. WEALTH-LAB and METASTOCK treats the chart as an output of
datasources and can run systems directly on the datasources
independent of any charts.
There is advantage in running a mechanical system on a chart. A
system will provide different results based on 1m or 5m intervals,
similarly the results maybe different on a KAGI, POINT and FIGURE or
RENKO CHARTS which is TIME-INDEPENDENT. WL do not support the
alternate chart types. METASTOCK may show all the charts but the
system tester is run on data based on periodicity.
--- In Metastockusers@xxxxxxxxxxxxxxx, "The Boy" <theboy@xxxx> wrote:
> Does anybody have experience with Wealth-Lab and TradeSim?
> What is more worth buying, I mean which software is better?
>
> Thorsten
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