eSignal rank highly in charting and analysing software for all trader types. The advantage of using eSignal day trading software is that an additional monthly fee is not required to use eSignal like most day trading software requires. A second advantage to using eSignal is that they offer a variety of solutions for all levels of traders.
eSignal places above MultiCharts since it offers more broker compatibility and you do not have to pay for a data feed separately. In addition, it can support many world indices, an unlimited number of symbols, a choice of U.S. or international exchanges and you can view up to 200 symbols at a time.
eSignal supports a variety of chart types and drawing tools. The chart types include bar, candlestick, Kagi, line, point and figure, point break and Renko. Their powerful drawing tools include Andrews’ Pitchfork, Fibonacci retracement and extension, linear regression, trend lines and a price ruler. The “advanced charting” tool includes customizable tick intervals on bar and candle charts, eSignal Formula Script (EFS), multiple symbol overlay with axis management, a stretch chart and a zero bar. In addition, it can support multi-threading for creating super fast results on multi-core PCs.
eSignal really does do everything but it requires quite a lot of training to help traders learn how to most effectually use their software. This service provides quite a bit of additional education including seminars, trading education, free newsletters, a forum and a product called eSignal Learning. Their trading education topics include Market Mastery, The Strategic Trader, a free newsletter and free trading resources, which include articles and advice from active traders.
In summary eSignal is a diverse company offering a range of trading solutions, but again they are geared more toward the advanced trader. They do have ‘entry-level’ systems available but there is a lot of learning required in order to operate these systems. Nowadays it is also perhaps a con to be platform specific instead of web-based.