Metastock (MS) is one of the most powerful and demanding trading software, introduced by Steve Achelis in the year 1982. For over 30 years it is rated as the number one market analysis tool. The design is specially made for intraday traders to get live market data and comes with the most reliable trading solution. A customization facility is available here, one can customize any trading solutions according to his preferred style. Today’s article will provide a Metastock 16 Review as well as will provide the Metastock software download link.
Metastock 16 Features
Metastock software carries different features with it. Traders can get beneficial tools and options in this trading software. The toolbox of Metastock 16 consists of the following features:
Charting, Exploration, System Testing, Forecaster
- 87 custom indicators
- 8 expert advisors
- 6 system tests
- 6 types of explorations
- 72 external function DLL files
- Real-time alert
- Automated Buy-Sell signal’
- Scan the Market according to one’s choice
- Find out what strategies are working now
- Find out what securities are working best
- Detailed Profit and Loss Statement
- There are more than 200 technical indicators available here.
- Statistical forecast details
- Hand drew patterns available
- To form chart traders can select any pattern.
- It has a new exploration results interface
- It will also show results counts and rejects
- You will get full details of exploration on a single screen
- You can also view full details of exploration results
- Users can now double-click on exploration results to open the charts
- You can open the exploration window open while simultaneously you can use charts
- Can view all previous exploration results in a single window
- Candle pattern scans are included
- Adaptive Cycle Toolkit or ACT
- Dave Laundry Systems
- MRU indicators
- You can now sort by name or symbol easily
Metastock 16 Has A Few Changes In Some Core Indicators
- ASI and ASDI indicators are changed
- Minimized lag in these indicators
- Identifying trending vs trading markets
- Identifying markets full of noise
- Indicators are smoothened to get a better response
The New Metastock Software Has Sector Stat Expert Advisors
- 2 new systems for oil and metal
- 2 new expert advisors
- 12 new indicators
- 2 brand new templates
Metastock 16 Review
- It provides customizable features and is flexible in nature. If traders are confident enough and can develop personal strategies, they may use this customised option for trade.
- Among various beneficial offers, supporting tools, free supporting line-chat, instant messages, and forum visit facilities are the most eye-catching facilities here.
- It is an essential part of the Reuters product line which is used by institutional managers.
- Currently, it has more than 300,000 retail customers all over the globe.
- It is easy to use if you are familiar with its features.
- It has tried to introduce conceptually correct repeatable methods.
- Systems that eye on small and quick trades but at the same time keep trade at hand till the trend lasts.
- Mean reversion trading systems.
Review of the List of in-built Line Studies that MetaStock 16 Includes:
- Andrews’ PitchforkCycle Lines
- Cycle Lines
- Equidistant Channel
- Fibonacci Arcs, Fans, Retracements, Projections
- Fibonacci Time Zones
- Gann Lines, Fans, Grids
- Linear Regression Trendline
- ODDS™ Probability Cones
- Quadrant Lines
- Raff Regression Channel
- Speed Resistance Lines
- Standard Deviation Channel
- Standard Error Channel
- Tirone Levels
Minimum System Requirements:
- Operating System – Windows 7 / Windows Vista / Windows XP
- Processor – Intel Core 2 Duo 2.4 GHz or higher
- RAM – Minimum 2GB RAM, Recommended: 6GB RAM
- Video – Video card and monitor supporting at least 32-bit colour at 1024×768 or higher
- Hard Disk – 1GB of Available disk space
- Internet Connection – Broadband / High-speed Internet connection
Metastock Software Download Link
Metastock is maintained by equis.com, which is the pioneer in the technical analysis industry. They are the one who has first added all these indicators in trading software. MS is though a costly software, but it can be purchased at once and the Metastock software download link can also be accessed immediately after purchase.
This software is upgraded from time to time and is used by professional traders worldwide. If you have money to shell out, you can definitely go for it and use it in real-time trading.
We have seen that the main drawback of MS is its cost. The 499 dollars for the end-of-day version or the 1395 dollars for the real-time version is definitely on the higher side. Hence for Indian traders, it’s definitely not the first choice for its high cost because software like AmiBroker is available at a much cheaper rate.
The second drawback of MS is from version 12 they are not allowed to use third-party data. Hence for Indian traders, it has become costlier to use this software. You need to use proprietary data vendors like Esignal with MS.
The third drawback for MS is the cost of the add-ons. They have many add-on products like AlphOmega Elliott Waves, Barry Burns Top Dog Toolkit, Chuck Hughes’ Prime Trade Select, Dr Elder’s Enhanced Trading Room, CycleTrends, Guy Cohen’s OVI Traders (Annual) and many more. But many of them are too costly to be used by an average single trader.
We have some more resources on MS on our website. Day by day we are also trying to add new articles to that section. Finally, to know more about Metastock software and get an MS tutorial, you can go through our Metastock section.