Wednesday, February 14, 2007

Tradestation, Neoticker, or Top Gun software


I want to backtest some strategies but I'm not sure who to go with. I'm trying neoticker right now but it looks like it's going to take some time to figure things out. I like quotetrackers charts and how easy it is to change indicators, the only thing I'm missing is the ability to backtest strategies.

Also I want to be able to make my own index based on a basket of stocks that I choose, and also a modified NYSE TICK index similar to neotickers TICK16.

The system:
I would like to setup a system that enters based on how ER2 and NYSE TICK(or my new TICK index) are trading relative to each other.

The system will only enter long when it recieves a long signal on the ER2 chart and when NYSE TICK is below a certain value.(vice versa for a short trade)
The system will exit the long trade when NYSE TICK is above a certain level or if it gets stopped out based on a fixed number of ticks. This is a vague description of the system, but its the key points.

Another strategy focuses on volume profiles compared over the last few days.

Top gun software looks really cool, however, I'm not sure about its ability to backtest. Tradestation seems like it will backtest my strategies, but I don't think it can make indices based on stocks you choose like neoticker.

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