IQchart trading software is a bit diffrent from the previous 3 other trading software we discussed so far. This software is web based only. You don't download any software to install in your computer. You have access to intraday data as well as longer term end of day data. Also you don't need to pay extra fees for data feeds, it is all included in the subscription price.
Free trial facility
IQchart offers a 30 free trial. This should be more than enough to evaluate this software.
Technical indicators available
IQChart offers about 30 technical indicators representing most of the main standard indicators. They have one proprietary indicator called IQC zone indicator telling the trader if we are in a bearish, bullish or sideways market conditions.
There are no built-in automated trading signals with this trading software. You need to know very well how to use technical indicators. Since it can plot 4 indicators at once plus the IQC zone indicator, this would be the only way to identify a good trading opportunity.
User defined trading system
This software does not offer any way to develop your own trading system. Since it is web based you can understand that it would be quite difficult to do so.
Pattern recognition
IQchart does a bit of pattern recognition with it's proprietary IQC zone indicator as discussed earlier. This indicator replaces the trend and support lines we have with other trading software. It shows above the graphic red and blue bars indicating bullish or bearish or neutral (green). IQchart also provides for Candlestick patterns on the graphic. However you need to know how to interpret them to make trading decisions based on that. They do provide documentations on their site about several other trading patterns but they are not built-in the software.
Data Feeds availability
This software does not need data feeds. It is included in the standard subscription price. So you don't have to incur extra fees for that purpose. Rememner that it also provides intraday data.
Day trading support
IQchart provides day trading capability. You can draw charts with technical indicators with intra day periods at no extra cost.
Special characteristics
This trading software allows you to search using more than 100 criterias, including price, volume, and fundamental information. Stock Screener also utilizes a proprietary candlestick recognition engine to determine specific patterns. And every search can be saved or modified with just one click.
Ease of use
Since this software is web based, it is very easy to use.
Available Add-ons
No add-ons are available.
Pricing structure
This software works as a monthly subscription only at 39.95$ USD including data feeds. You must add an extra 20$ if you need data for the E-MINI futures.
IQchart trading software remains an interesting choice despite the fact it does not provide all the functions we saw with other trading softwares we discussed in our trading system evaluation site so far. For traders who know what they are doing with technical indicators and patterns it is a cheap way to tap into the market.
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