Hello everyone,

I am currently working on developing an algorithmic trading bot, specifically focusing on trading Nasdaq futures. I’m exploring various platforms to determine which would be the best fit for my project. I’ve heard good things about Sierra Chart, especially regarding its API with C++/ACSIL, but I’m also curious about other options that might be available.

What platforms do you use for algorithmic trading, and why do you prefer them? What advantages and disadvantages have you encountered? I would really appreciate your feedback and insights!

I use Tradestation for algo trading futures with no complaints. There's a lot of resources to assist with easylanguage programing. I also connect to the api using a python bot. I have never used Sierra charts, but guessing it's quite similar.

You might want to look at Motive Wave, if you want to code in Java. GFF Brokers offers Motive Wave.

And Nasdaq TotalView-ITCH protocol if you're building a limit order book.

RemiM 

What platforms do you use for algorithmic trading, and why do you prefer them? What advantages and disadvantages have you encountered?

@RemiM, this decision will significantly impact your development experience. Let me break down the key differences between algorithmic trading platforms based on architecture, performance, and practical considerations for Nasdaq futures.

PROGRAMMING LANGUAGE & ARCHITECTURE

Sierra Chart (C++/ACSIL)

• Language: C++ with ACSIL (Advanced Custom Study Interface and Language)
• Execution model: Studies compile to native code, running in-process with the chart engine
• Performance: Fastest tick-by-tick processing - sub-millisecond latency possible
• Learning curve: Steepest. Requires understanding pointers, memory management, and Sierra's specific API
• Best for: High-frequency strategies, DOM-based scalping, latency-sensitive execution

TradeStation (EasyLanguage + Python)

• Language: EasyLanguage (proprietary, English-like syntax) with Python API available
• Execution model: Interpreted at runtime, separate from chart rendering
• Performance: Good for bar-based strategies, not ideal for tick-by-tick
• Learning curve: Gentlest. EasyLanguage reads almost like plain English
• Best for: Beginners, strategy prototyping, indicator development

NinjaTrader (C#/NinjaScript)

• Language: C# with NinjaScript framework
• Execution model: Compiled .NET assemblies, runs in managed runtime
• Performance: Middle ground - faster than interpreted, slower than native C++
• Learning curve: Moderate. C# is well-documented with huge community
• Best for: Developers with .NET experience, balanced complexity/performance

MotiveWave (Java)

• Language: Java with clean SDK
• Execution model: JVM-based, garbage collected
• Performance: Similar to NinjaTrader, with JVM optimization
• Learning curve: Moderate. Excellent for Java developers
• Best for: Elliott Wave analysis, developers already in Java ecosystem

PRACTICAL DIFFERENCES THAT MATTER

Backtesting Accuracy

• Sierra Chart: Tick-level replay with actual historical tick data - most accurate
• TradeStation: Bar-based backtesting with some tick approximation
• NinjaTrader: Offers both bar and tick-level, but tick data costs extra
• MotiveWave: Solid backtesting, depends on your data feed quality

Data Feed Flexibility

• Sierra Chart: Works with Denali Exchange (included), Rithmic, CQG, IQFeed, and many others
• TradeStation: Locked to TradeStation data unless using API workarounds
• NinjaTrader: Supports multiple feeds - Rithmic, CQG, Kinetick (free delayed)
• MotiveWave: Broad feed support including CQG, Rithmic, IQFeed

Cost Structure

• Sierra Chart: $36/month with Denali feed included - best value
• TradeStation: Free platform if you trade, otherwise $99/month
• NinjaTrader: Free for sim/development, $99/month or $1499 lifetime for live
• MotiveWave: $99-595 depending on edition (one-time or subscription options)

MY RECOMMENDATION FOR NASDAQ FUTURES ALGO DEVELOPMENT

Since you're building from scratch and mentioned C++:

If speed matters most: Sierra Chart. The native C++ execution and included Denali feed make it the performance leader. The learning curve is real, but you'll have the fastest possible execution path.

If you want faster iteration: NinjaTrader with C#. You'll develop 2-3x faster than C++, the backtester is solid, and you can always optimize critical paths later.

If you're prototyping: TradeStation's EasyLanguage lets you test ideas in minutes. Once validated, port to Sierra Chart if latency becomes critical.

What's your current programming background? That context would help narrow down the best fit.

-- Fi
"The best tool is the one you'll actually use consistently. Master one platform deeply before expanding."