Add-on tool for MetaStock helps users find breakout candidates
NEW -- Equis International has released a new add-on tool for use with its MetaStock 6.5 software. Dynamic Trading Tools: Profiting with Support, Resistance & Trendlines helps the user determine how supply and demand should be represented on charts with support lines, resistance lines and trendlines. Customized explorations also provide the ability to search a database of securities for tradable breakout candidates. Also included is expert commentary feedback providing specific analysis for each individual chart examined.
The Dynamic Trading Tools package includes four support/resistance customer indicators and four trendlines customer indicators. For each indicator, there are automatic and manual versions. The automatic versions automatically determine the parameters that control the drawing of the lines, while the manual version allow the user to adjust the parameters manually.
Four explorations are included for use with The Explorer power tool within MetaStock. With these powerful explorations, the user can filter through an entire database of securities and find those tradable candidates that have recently broken through trendlines or support/resistance levels. The reports show how many days previously the securities broke out, and the percent increase/decrease in volume on the day of the breakout. This allows the user to zero in on those securities that are most likely to have the biggest moves after the break.
NEW -- FutureSource now offers Expert II technical analysis software as a client/server application. The company also announced that Bridge News and cash prices are now available with its display software.
With Expert II, large trading firms, dealing rooms, and corporate clients can access market information on state-of-the-art display and analysis tools over their LAN, WAN, or intranet.
Expert II combines a flexible and graphic price, news, weather and charting display along with a suite of technical analysis tools designed with a trader-intuitive interface. It's supported by FutureSource's worldwide datafeed.
The Market Data Server and Developers Kit will also make it easier for trading firms to develop proprietary trading programs, back-office systems, or Internet sites to the FutureSource datafeed.
J&E Research has introduced the Options Analysis & Pricing Excel Workbook for IBM-compatible PCs. The workbook contains three separate analytic option-pricing models for stocks/indices, currencies and futures. Option pricing models used include Black-Scholes, Black-Myron, Merton and Graman-Kohlhagen. The models automatically calculate price, risk, metrics, implied volatility and time decay.
Also introduced is the Stock Analysis Excel Workbook for IBM compatible PCs. The workbook downloads free corporate financial data and automatically calculates an array of fundamental financial metrics. More than 43 financial quantitative measures are preprogrammed, including profitability and leverage analysis.
The Trade System Backtesting Excel Workbook for IBM-compatible PCs is also available from J&E Research. This workbook is designed to backtest trading systems. Even complex trading ideas can be tested with the use of Excel's Analysis ToolPak, built-in data modeling features and logic statements. The workbook comes with three trading systems ready to use or customize with your own indicators. All three workbooks can be purchased at www.jeresearch.com. Products can be downloaded or delivered by US mail.
The Chicago Board of Trade will sponsor several classes in October.
An intermediate options seminar will be held on October 13-November 5 in the afternoon in the CBOT building. The course places strong emphasis on the practical aspects of option value, put-call arbitrage, the significance of delta, gamma, theta and vega and the vagaries of volatility. Trading strategies applicable to most market situations and concepts of position management will be covered. The cost is $150 per person.
A technical analysis basics class will be held October 7-8 in the CBOT building. This one and a half?day minicourse, featuring Ken Shaleen, will provide an understanding of classical bar charting price pattern analysis. The fee is $500 per person.
A financial basics three-day minicourse will be held October 5-7. The course applies the fundamental concepts of interest rate futures and options. The fee is $750.
The PMBe system, developed by Chicago-based Professional Market Brokerage (PMB), is an Internet-based, online order entry system. With a PC, Internet connection and Web browser, you can enter futures and options orders for any market for which PMB maintains a clearing presence.
From an Internet-connected PC directly to the filling broker in the pit, a customer enters an order to buy an S&P 500 contract at the market. The order then is instantly transmitted to the pit broker's handheld unit that displays the new order to be executed.
The system is a combination of order-desk routing, handheld units and direct links into electronic-based exchanges. PMBe is ideal for the S&P 500, T-bonds, DJIA, NASDAQ and LIFFE's FTSE futures because those orders are routed directly to the pit broker's handheld units.
PMBe maintains electronic links to Globex, the DTB and MATIF. In addition to electronic order routing, the system also supports futures and options orders for all US and European markets, such as the grains, meats, metals, energies, exotics and so on.
TurtleTrader announces version 2.0 of its Web site. The TurtleTrader site, which now offers more than 75 pages, offers numerous free resources, including its recently expanded 57 megabytes of free futures contract data. The data can be downloaded at no cost.
TurtleTrader offers content on trend-following, risk management, money management and coverage of the managed money industry.
