When it comes to trading software, Metastock is certainly one of the big players in the industry. However, the fact Metastock remains the dominant and a well featured software program does sometimes play against it. For many retail traders, they tend to put Metastock in the ‘too-hard’ basket. A lot of us view the software as the domain of eggheads and computer programmers.
Metastock is clearly a set-up for more advanced traders, but mostly because you need to break through some of the misunderstandings about trading to really see its value.
The technical analysis provides around 130 different technical indicators through MetaStock’s stock analysis tool. Some of the technical indicators include Fibonacci, Bollinger Bands, Linear Regression, Simple Moving Averages, Volatility, Stochastic Oscillator and Chaikin’s Oscillator. Each indicator is designed to assist the investor in analysing a particular security.
One negative that we have found with MetaStock is that it requires several different programs to complete a simple day to day task, so it can take a long time to do anything new because you don’t know which program to use or whether you need to buy a new ‘add-on’.
Overall, MetaStock is a very complex program with absolutely tons of indicators, which is why it appeals to many. I’m sure you can do anything you want with it, but it is a program for someone who is into serious systems design and backtesting (if you can work out the language).