Overview of MetaStock
MetaStock is a comprehensive charting software and market analysis tool designed to assist traders of all levels in making informed and strategic trading decisions. Developed by Innovative Market Analysis, MetaStock is tailored for self-directed traders, including day traders, position traders, swing traders, and more.
Key Features and Functionality
Analysis Tools
MetaStock offers a robust set of analysis tools to help traders analyze markets systematically. These include:
- PowerTools: This suite includes the Explorer, which scans the market to filter and sort securities based on predefined criteria; the System Tester, which allows for backtesting of trading strategies; and the Expert Advisor, which generates buy or sell signals based on selected systems.
Real-Time and End-of-Day Options
MetaStock provides two main variants:
- MetaStock Real Time (R/T): Designed for day traders, this version offers real-time data and analysis tools powered by Refinitiv XENITH. It includes intraday data, real-time news, and customizable technical analysis tools to help traders make decisions throughout the trading day.
- MetaStock Daily Charts (D/C): This version is ideal for end-of-day traders, providing comprehensive but delayed market data. It includes tools for scanning the market, backtesting strategies, forecasting future price actions, and receiving expert advice directly on the charts.
Data Coverage
MetaStock covers a wide range of financial instruments, including:
- Stocks
- Options
- FOREX
- Futures
- Commodities
- Derivatives
It also provides access to global market data, covering major exchanges such as the NYSE, FTSE, and Nikkei.
XENITH Integration
XENITH is a real-time news, data, and analysis package integrated with MetaStock. For real-time traders, XENITH provides essential news, data, analytics, commentary, and insights in one place, enabling quick and confident decision-making. For end-of-day traders, XENITH for Daily Charts offers a global data solution that includes most global equity markets, FOREX, futures, commodities, and derivatives.
Customization and User-Friendly Interface
MetaStock allows for significant customization to fit individual trading styles. Users can create custom systems to identify specific market patterns and use pre-defined screens or customize their desktop to view the most relevant content. The software is designed to be user-friendly, making it accessible to both novice and experienced traders.
Additional Features
- Hundreds of Indicators: MetaStock includes a wide array of technical indicators to enhance trading analysis.
- Market Scans: Users can scan the market to identify current trading opportunities based on their criteria.
- Forecasting Tools: The MetaStock FORECASTER uses patent-pending technology to help predict future price actions and set precise stops and profit targets.
Pricing and Availability
MetaStock offers flexible pricing options, including subscription models and one-time purchases. Users can choose between monthly subscriptions or a one-time purchase, with the option to try the software for 30 days before committing to a purchase.
In summary, MetaStock is a powerful and versatile trading analysis tool that provides traders with the resources they need to make informed decisions, whether they are day traders, position traders, or swing traders. Its comprehensive suite of analysis tools, real-time and end-of-day data options, and customizable features make it an indispensable asset for traders of all levels.