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MultiCharts PowerLanguage/EasyLanguage full documentation, full reference book, etc?


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MultiCharts PowerLanguage/EasyLanguage full documentation, full reference book, etc?

  #11 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
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artisanpro View Post
Bonjour,

Multicharts-v-14 is stable and works fine and I do trade with it. I have come across Motive Wave once before a long time ago.
I just took a quick glance at their site and here are my a priori thoughts. On the minus side: their software compared to Multicharts is expensive. On the positive side: they have a great offering in terms of trading options and capabilities. In fact, their Ultimate package is superior to Multicharts.

I want to clarify my previous post before going any further.
1. I chose Multicharts because I used to trade with Tradestation and sometime in 2000 they pulled out of Canada (they are back now). I wanted to keep using my custom code so the only feasible option was Multicharts. It is a software that currently serves my needs: I can trade manually or automatically and I can test ideas very quickly because of my proficiency with EasyLanguage.
2. What I wanted to convey is the idea that all trading software that resides on a home computer for fully automated trading are all risky ventures (in my view) since a number of events can generate losses: home computer failure such as reboot, electrical network downtime, internet disconnection, etc. So that is why I was thinking of eventually rewriting my custom code to python and run it from a cloud service.

I haven’t looked yet at the possibility of using Multicharts on the cloud but I suspect that it is possible. I have noticed that MotiveWave offers a “cloud workspace” which eliminates the risk mentioned above. This is a definite plus for automated trading and likely to be a seamless implementation compared to Multicharts. This feature appears to be included in the lease and or support.

My idea to migrating to Python is: it is robust, flexible and allows the use of a large number of math and science code libraries. This way, I would not need a second license since I want to retain the ability on my home computer to test ideas. For me, the major downside of MotiveWave is it’s use of the Java Programming Language to write custom indicators and strategies. Based on what I know and past experience, learning Python would be easier and faster than Java OR I may go for a second Multicharts licence.

I hope that these thoughts will help in your decision process.

edit 1: I just noticed that MotiveWave connects to many brokers but fall short on the number of data feeds UNLESS they implicitly mean brokers and their datafeeds.

Hiya @artisanpro


Thanks. About this,

Quoting 

I haven’t looked yet at the possibility of using Multicharts on the cloud but I suspect that it is possible.

You need a dedicated/Semi-Dedicated/VPS hosting, and I purchased one for myself here and running some of my trading robots on these,
https://sunprogrammer.net/dedicated-web-hosting-plans/
https://sunprogrammer.net/semi-dedicated-hosting-plans/comparison-of-features-and-prices/
https://sunprogrammer.net/vps-plans/kvm/comparison-of-features-and-prices/

Depending on your RAM and CPU needs you shall select, I guess for Multicharts you will need 8~16GB RAM for optimum use and performance.

The rest of the robots that I'm testing running on my local home server.

About this,

Quoting 
I have noticed that MotiveWave offers a “cloud workspace” which eliminates the risk mentioned above.

I don't think 'Cloud workspace' can mean accessing to platform from a web browser from anywhere, as it means different?

I see Multicharts-v14 does not have any mobile app, and neither MotiveWave-Ultimate have any mobile app, thus accessing the platform when you are not near to home server and checking the orders and positions situations will not be possible?

About this,

Quoting 
My idea to migrating to Python is: it is robust, flexible and allows the use of a large number of math and science code libraries.

Where do you get access to the indicators, studies, and technical analysis when you are developing strategies and robot's in Python? e.g. in the case of using a broker like IB, per my understanding, the only technical analysis that is available in the studies, indicators that are in the TWS platform, and you will not have access to a wide range of studies and indicators like what Multicharts and MotiveWave-Ultimate have them? I don't get how Python's libraries can replace the need for all these technical analyses, studies, and indicators that are available in Multicharts and MotiveWave-Ultimate?


My only concern about MotiveWave-Ultimate is that in case connection through a broker e.g. IB and data feeds from paid data provider's if encountered an error in their connection or API interface, as the brokers and data fee providers updating their servers and platform's and API consecutively and thus if the updates in brokers and data feed providers happen in every weekend and the error happens between the connection of MotiveWave-Ultimate and data feed provider or broker or both, how I suppose to fix this error with data feed provider or broker for order/position management or both if you know what I mean?
As they are offering a 295USD annual update and support package but they said this is not mandatory to purchase, but as per my understanding there will be no support for maintenance of the MoiveWave-Ultimate connection to data feeds providers or brokers or both, and if any error happens in connection from MotiveWave-Ultimate to the data feed provider or broker, and if we didn't purchase the 295USd annual update and support, what would be the solution to fix this maintenance(not update nor support) issue if you know what mean?

Also, how is the data feed connection between Multicharts-v14 and IB broker and how is the order/position management between Multicharts-v14 and IB broker? As there were many complaints on the internet and negative reviews about Multicharts as they claimed the order/position management is sloppy and it's not working properly as it should and data feed connection from IB broker to Multicharts is not functioning properly?
May someone who uses Multicharts-v14 with IB broker, comments on the data feeds connectivity and order/position management between Multicharts-v14 and IB broker?
?


Tnx and best of luck

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  #12 (permalink)
Blonde
Luxembourg, LU
 
Posts: 119 since May 2020
Thanks Given: 99
Thanks Received: 17

Hiya,



I purchased MC 14 +ASP lifetime license. May a professional advise me on if I do get any benefit from purchasing MotiveWave Ultimate(2,295USD+ 295annual fee) over this MC 14 +ASP or not?

For Order-Flow trading, can I do this with MC 14 +ASP? Do I need any add-on?


Tnx and best of luck

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