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Metastock has a feature called the Explorer which lets you run and indicator
over any number of stocks. That indicator or those indicators can be a
system result such as MaxID Drawdown, total equity, etc. You write the
indicator with a much more limited formula language than EL, and you'll get
your results by security or by market.
In either TS's or Metastock's case, you'll have to get all of your results
into Excel to do any kind of summary analysis.
Approximately the same results (albeit with more effort setting up the
charts) can be achieved by TS using FileAppend() in a Strategy applied to
all of the charts in a workspace. Of course, this is reasonable for
multiple commodity markets or the DOW30, but ludicrous for the S&P500.
If you like the visual appeal of Metastock and are comfortable with EL, then
using PowerBasic, Delphi, or C++ in conjunction with Metastock 7.X is fairly
straightforward.
================
Dave Nadeau
Fort Collins, CO
> -----Original Message-----
> From: Bengtsson, Mats [mailto:mats.bengtsson@xxxxxxxx]
> Sent: Saturday, August 04, 2001 5:27 AM
> To: John Lynch; Derek; omega-list@xxxxxxxxxx
> Subject: RE: Tradestation v Metastock
>
>
> What you write agrees with most things I heared before as well, except the
> part on system testing. I have understood that Metastock can do system
> testing over a whole bunch of stocks or markets or whatever, which
> Tradestation can not.
>
> Does not Metastock do that, test over a selected set of symbols?
>
> > -----Original Message-----
> > From: John Lynch [mailto:kiwi_trader@xxxxxxxxxxxx]
> > Sent: den 4 augusti 2001 10:46
> > To: Derek; omega-list@xxxxxxxxxx
> > Subject: Re: Tradestation v Metastock
> >
> >
> > Hi Derek,
> >
> > I use both and the common factor is that they can produce
> > lines on screens.
> >
> > The big differences are:
> >
> > 1) TS can be used for system testing. Although you'll get
> > arguements about how good tradestation is at reflecting where
> > your stop is hit, its much
> > better than metastock's open, close, high or low choices. Also
> > optimisation which is available on TS is valuable even if
> > potentially dangerous.
> >
> > 2) For both systems and indicators the complexity of
> > "easylanguage" allows a staggering range of choice. One
> > example is that Joe DiNapoli has an indicator called an
> > "oscillator predictor" which predicts the close price
> > required for an oscillator to be oversold. Probably
> > impossible to be done with Metastock but reasonably simple
> > with Tradestation.
> >
> > 3) Most indicators for sale are written on Tradestation and
> > most of the intelligent discussion is based around Tradestation.
> >
> > 4) Generally its easier to draw lines such as trendlines or
> > andrewsbabson lines with Metastock but Tradestation is more
> > flexible. For example you can change (and save as default)
> > the fib retracements in TS but not in Metastock. Also you
> > can write software to draw differently coloured lines at
> > different levels for a whole series of retracements from a
> > focus point to determine confluences of retracements.
> >
> > So, I'd get tradestation. In fact I'll sell you a second
> > hand version of Metastock V7 if you want!
> >
> > Only thing I'd do before buying TS though is look at a bit of
> > software called Trading Recipes. If you're serious about
> > system trading commodities rather than discretionary trading
> > then it may be a better choice as it gives you much better
> > ability to look at money management, drawdowns and mixing
> > systems and commodities that TS does (virtually none unless u
> > build the spreadsheets yourself).
> >
> >
> > John
> >
> >
> >
> >
> > ----- Original Message -----
> > From: "Derek" <dfawell@xxxxxxxxxxxx>
> > To: <omega-list@xxxxxxxxxx>
> > Sent: Friday, August 03, 2001 11:01 PM
> > Subject: Tradestation v Metastock
> >
> >
> > Hi All
> >
> > I'm fairly new to the trading game and have recently joined
> > this list. I'm wanting to buy stock-screening software,
> > where I can develop my own systems. I have been tempted to
> > go for Metastock as I've used their stuff a bit but would
> > like to consider Tradestation.
> >
> > Could anyone here tell me what are the main advantages of
> > Tradestation over Metastock.
> >
> > Derek
> >
> >
> >
>
>
> This message contains information that may be privileged or
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