| rwesley |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Tuesday, February 14, 2006 |
| Friday, March 14, 2008 9:34:07 AM |
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Thank you for the previous post. It is useful to get a balanced view. If you are happy with the functionality in TeleChart and think a $299 annual subscription is reasonable for an EOD data feed then there is no reason to look anywhere else.
However I view a technical analysis / charting package as an expense and have set my aspirations somewhat higher. I happen to want some improved functionality at the same cost or cheaper. Others may be happy with the same functionality, just cheaper. By looking around it is obvious that there are many other readily available options that fit the bill.
I thought this forum would be an opportunity for Worden to fight its corner, however they simply hide behind bland statements.
I have a nasty suspicion that by accepting the status quo you will have a very long wait for any future TeleChart developments from the Wordens, however it would be good to be proved wrong.
Any case, the lack of a material response from "the management" means the debate has run its course so good luck to everyone with their trading.
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This is a real shame but I've found the answer to my question...and it is to ditch TeleChart and start using Amibroker. Contributions and suggestions are not only actively encouraged but users are informed if and when these enhancements will be incorporated. There is a regular and predetermined release schedule.
As time progresses more and more TeleChart users are going to start voting with their feet (and wallets) and go elsewhere. I'm afraid that my understanding and the "Worden" understanding of what it means to be a paying customer are too far apart to ever be reconciled.
Best regards,
Richard
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Thank you for your reply, however the lack of real response whenever this question is asked is simply treating your customers with complete contempt.
I would just like to know whether Peter/Don Worden et al are committed to developing future releases of TeleChart or whether they are planning on stringing us along year on year getting our subscription money for access to a legacy product and an end of day data feed. If this is the case, many people will want the flexibility to start looking elsewhere for a better product.
If anyone else reading this board would like a response to the question I have asked, then please add a post to the thread. Maybe it is just me who is interested?
Guess this is my chance of ever getting a bottle of Veuve Clicquot down the pan.
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Hi,
There are any number of great suggestions within this forum for functional improvements which could be made in future releases of TeleChart. They all get the standard response "we have passed this over to our development team for evaluation etc. etc. etc." and I expect that 99% of people never hear anything more about their suggestion.
There also appear to be many TeleChart users, including me, who do not want to move to Blocks.
So very simply my questions are, will there be another release of TeleChart containing any improved functionality and if so when will it be? Apologies if I have missed this information somewhere on the site, but it is not immediately obvious to me. I am only really looking for a Yes/No answer and a date, nothing more.
The reason I ask is that if TeleChart is now essentially a legacy platform which will just act as a datasource for Blocks, I will probably want to look elsewhere for a charting package which is still under active developement and receptive to suggestions for improvements.
Best Regards
Richard
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Hi Craig,
I think I will have to use this approach and create separate templates.
Any chance I could put forward the overlay idea for other indicators as an enhancement request?
Cheers
Richard
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Hi Craig,
Many thanks for your reply. I'm happy enough altering the PCFs for one specific date in the past but really wanted a solution whereby I could scroll backwards / forwards in time and view the data values for the PCF in "realtime". E.g. similar to the feature enabled for price under Tools->Chart Display Options->Show last price overlayed on price scale.
I've been prompted by the discussions on the Worden Reports regarding stop losses. I've created a number of PCFs to generate different stop losses and want to scroll backwards and forwards through old data to determine when they would have been invoked and the actual value for that particular day.
I guess introducing the value overlay for all indicators would be a product enhancement therefore was wondering if there was another easy way to do it.
Rgrds
Richard
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Hi,
I was wondering if there was any way of displaying or obtaining historical data values for PCFs, custom indicators or even default indicators in Telechart?
I can display the PCF or indicator in the price chart screen, then use the pointer (pressing "." twice) to display the pop-up containing the summary data.
However this method isn't that user-friendly when I have more than a couple of PCFs or indicators which I wish to analyse.
Thanks in advance
Richard
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Hi,
I have now been using TC2005 and paper trading for approximately 6 months. The approach I have taken is to use an EasyScan to generate a list of stocks with above average performance for EPS, revenue growth rate, profit margin and P/E ratio. On a daily basis this normally generates a list of approximately 60 stocks which I then take forward for further technical investigation. To this point I have not used the EasyScan to filter on price per share.
I'm now at the point of finding a suitable online broker and was wondering if other TC2005 users had any recommendations. I'm obviously very keen to pay as little commission as possible and do not think I need to pay for broker assistance when placing an order. My initial pot will be limited (of the order of $5K) therefore I have two real options:
a. Continue to ignore price per share in my EasyScan, which could potentially mean that I can only trade very small numbers of shares. Minimum order size then seems to limit my choice of online brokers.
b. Change my EasyScan to only look at low cost (e.g. < $5) shares. In this case I would either need to relax my fundamental criteria or be prepared to accept a very short list of daily candidates for technical analysis.
I've found a couple of brokers (don't know if I can name them in the forum?), one of which charges $7 per trade but has no minimum order size, and another which charges $1 per trade but has a minimum order size of 100 shares.
My inclination is to go for the lower commission and adapt my EasyScan to only look at low cost shares plus relax the fundamental criteria, however I would appreciate any advice anyone has.
Best Regards
Richard
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Hi,
I'm attempting to produce a PCF which will give a measure of how well the daily price spread of a stock fits in/outside a fixed width channel over a defined period.
I'm not that interested in the direction of any trend, whether it is bullish, bearish or even a horizontal channel, just the spread of the daily price bar in/outside the channel over the period, e.g. a reading of 0% would indicate that the spread of the daily price bars all fall within the channel, 50% indicates that only half the spread of the daily price bars lies within the channel either because some daily highs lie above the channel and/or some the daily lows lie below the channel. I do not want the percentage to reflect the number of days where price lies in/outside the channel, but the percentage of the price itself which lies in/outside the channel.
e.g. I want to generate a 30 day linear regression line based on the closing price bounded by a fixed width channel which could be anything e.g. +/- (AVGH30 - AVGL30)/2, +/- (H - L)/2, +/- C*0.1 etc etc.
I think I've got the PCF for generating the slope of the 30 day linear regression of closing price:
( 14.5*C + 13.5*C1 ... - 13.5*C28 - 14.5*C29) / coefficients^2
which means I can go back and generate the channel bounds on any of the past 30 days to see what amount of price was outside the channel, then divide the sum for each day by the sum of (high - close) for each day.
However I can't help thinking that I am completely overcomplicating the PCF or that a standard indicator already exists (maybe based on linear regression channels, standard deviation of price?) to generate something similar to what I am looking for.
Any advice gratefully received.
Best Regards
Richard
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