Table of contents:
- 1 How was MultiCharts created?
- 1.1 What is MultiCharts.net
- 1.2 Which brokers are compatible with MultiCharts?
- 1.3 Multicharts as trading platform
- 1.4 Chart analysis
- 1.5 Market Scanner
- 1.6 Market Data Playback
- 1.7 Strategy Backtesting
- 1.8 Strategy development
- 1.9 Analysis of trading systems
- 1.10 Optimization of the trading strategy
- 1.11 Automated trading
- 1.12 Manual and semi-automated trading
- 1.13 Portfolio Trader review
- 1.14 How much does MultiCharts cost?
- 1.15 Is there a training area?
- 1.16 Which awards has MultiCharts already won?
- 1.17 Conclusion of the MultiCharts review
- 1.18 Where can I find the demo version?
- 1.19 What chart functions do MultiCharts have?
- 1.20 How can I contact the customer support?
- 1.21 Is MultiCharts a broker?
MultiCharts user-ratings: $0
Asset varierity - 10/10
Trading platform - 10/10
Support - 10/10
Fees - 10/10
Facts about the company:
- Type: Trading platform
- Regulation: Nonregulated
- Minimum deposit: $0
- Demo account: Free
- Markets: N/A
- Various features
- Compatible with various brokers
- Live support via 30 seconds during workdays
- Demo version available
How was MultiCharts created?
The beginning of MultiCharts was in 1999 when Dennis Globa and his friends became interested in Forex trading. At that time, algorithmic trading was still rather new and there were only a few platforms that offered something in this area.
Globa’s main intensity was to combine historical third-party data with real-time data. The platforms at that time did not offer this possibility or one was dependent on a specific data provider. So MultiCharts was born in 2005.
In 2011 a web-based version was developed, which is known today as Tradingview and is also used by many traders.
What is MultiCharts.net
MultiCharts.net combines the best features of MultiCharts with the possibility of programming in the programming languages C# and VB.NET. Thus, MultiCharts.net is suitable for all those who would like to use MultiCharts and all its functions, but do not want to work with the actual programming language EasyLanguage.
There are therefore two versions of MultiCharts:
- MultiCharts – Uses the programming language PowerLanguage (A further development of EasyLanguage)
- MultiCharts.NET – the possibility of programming in the programming languages C# and VB.NET
Which brokers are compatible with MultiCharts?
Currently MultiCharts is compatible with 29 brokers. It is also possible to connect several brokers simultaneously.
The following brokers are available:
- interactive brokers
- trading technologies
- GAIN capital
- discount trading
- IW Bank
- advanced futures
- AVA Trade
- apex futures
- Cannon Trading
- Eminis Trader
- MB Trading
- Futures Online
- Stage Five
- GFF Brokers
- Trade Futures 4 Less
- high ridge
Multicharts as trading platform
MultiCharts really offers a wide range of functions. From creating your own trading systems, chart analysis, portfolio trader, and much more.
MultiCharts is one of the leading trading platforms for chart analysis. All common chart analysis functions are possible with MultiCharts.
The following chart types are available:
- Time Price Opportunity (TPO)
- delta volume
- Volume Profiles
- point and figure
- 3 Line break
- cumulative delta
- Hollow Candlesticks
- Candlesticks with border
- invisible bars
- line on close
- Symbol Chart
- Histogram chart
- reverse bar
- Imbalance Delta
Thus, volume analysis is also possible. Trading from the chart is also possible. All common functions and order types are available, A wide range of drawing tools is also available. Be it the drawing of trend lines, supports, pivots, or other tools.
Currently the following drawing tools are included:
- Andrews’ Pitchfork
- Fibonacci Speed/Resistance Arc
- Fibonacci Speed/Resistance Fan
- Fibonacci retracement
- Fibonacci Trend-Based Time Lines
- Fibonacci Time Zones
- Gann Fan
- Gann Square
- Trend line
- extended line
- Ray Line
- retracement calculator
- Extended Parallel Lines
- Ray Parallel Lines
- Parallel Lines
- Horizontal Parallel Lines
- Horizontal Line
- Regression Channel – Segment High-Low
- Regression Channel – Standard Deviation
- Regression Channel – Raff Regression
- Regression Channel – Standard Error
In addition, over 200 indicators are available:
- Accum Distribution
- average price
- average true range
- Bollinger Bands
- CCI Average
- Chaikin Oscillator
- Comm Channel Index
- Comm Sel Index
- Custom 1 Line
- Custom 2 Line
- Custom 3 Line
- Custom 4 Line
- day close
- Detrended Price Osc
- Ease of Movement
- Extreme Profit Accum
- Gapless Bar Chart
- Keltner Channel
- mass index
- money flow
- Mov Avg 1 line
- Mov Avg 2 Line
- Mov Avg 3 Line
- Mov Avg Weighted
- On Balance Volume
- Open, Open Interest
- Pcnt Chng 1 data-cum
- Price Channel
- price oscillator
- Rate of change, Stochastic – Fast
- Stochastic Classic
- swing index
- ulcer index
- The Ultimate Oscillator
- volume oscillator
- Volume ROC
- Weighted Close
- Williams Acc-Dis
In addition to indicators, it also contains ready-made signals based on technical analysis:
- 1-2-3 Reversal
- 1st Hour Breakout
- Atlas IfThenElse
- Atlanta Points
- Atlanta System
- Atlanta System ADX, Bail1 for Daily
- Bottom Fishing, Buy Mon Sell Mon
- Confluence, Counter Atlanta
- Derivative Moving Average
- Elliott Wave System,
- Exiting Partially
- First 2 Hour Channel
- Force Index System, Mark
- Mon. or Tues. Buy
- Mov Avg – Supp/Res
- Mov Avg X 2-20
- MovAvg Adaptive Fltr, NMP System
- OBVDI, Oddballvar 1.2
- Price Vol System
- season trading
- Sharpe Demo
- Simple Futures MA
- Stochastic S&C
- Support Resistance
- TFS Signal
- TRIX System S&C
- TSF System
- Thrust Retracement
- TrendLine BreakOut
- Weekly S&P System
All indicators and signals can be changed at any time in a simple and uncomplicated manner and adapted to your own needs.
With the help of the Market Scanner, you can scan and observe the whole universe of securities according to certain criteria. Thus, interesting signals and criteria can be displayed in real-time. You can be notified visually, acoustically, as well as by e-mail.
There is a wide range of options for scanning. All indicators are also included. The scans can be filtered in detail. For example, you would like to see all stocks that have overcome the moving average 20 in the last three trading days or are currently trading above it.
More than 20 data fields can be added. Be it the opening, close, volume, 52 weeks high, etc. All columns can also be customized in color. Diagrams can also be displayed and thus trends can be identified quickly. It is also possible to use different data feeds. All data can be exported to Excel.
Market Data Playback
With the help of this function, you can have the market restored in real-time. This allows you to replay past days live and watch the whole thing again. Especially for discretionary traders, who use certain price patterns and other methods, which are harder to program or who just want to get better, this tool is excellent.
MultiCharts is one of the few providers that allows a tick-by-tick replay. Thus, the simulation is as close to the market as possible. The indicators are also recalculated for each tick.
There are different levels of playback speeds so that you always have control over how fast market changes should be displayed. It is also possible to play several instruments and places at the same time. The scanner window can be added so that finding and implementing trading opportunities can be practiced or optimized.
With backtesting, you have the possibility to test strategies with historical data to see how these strategies would have worked in the past. This makes it all the more important to have accurate and precise data. MultiCharts offers here a large amount of tick-by-tick data.
Strategy Backtesting enables this approach and generates a comprehensive report containing all parameters and results. The strategy can also be displayed in the chart so that the entries and exits can be quickly identified. If the trade is profitable, the entry and exit are connected with a green line. Red is the line for unprofitable trades.
All major factors such as liquidity, tick-by-tick price changes, ask-bid price differences, commissions, slippage, initial capital, interest rate, and trade size are taken into account. The different order types, such as market, stop, limit, stop-limit, and one-cancels-other orders (OCO) are also taken into account. In addition, more than 80 ready-made strategies are already included, which can be used to practice backtesting.
MultiCharts uses PowerLanguage, further development of EasyLanguage. However, up to 99% of EasyLanguage strategies and indicators function unchanged and are easily compatible with MultiCharts. This means that simple strategies can be created even without programming knowledge.
The structure of the scripts is very simple and allows an uncomplicated start in strategy development. For example, strategies can also be compiled from the already existing trading signals and thus different components can be combined.
With the help of the “IntelliSense” syntax is automatically completed or corrected or suggestions are displayed. In addition, you can have the whole thing checked for errors at any time. Even complex strategies can be programmed. If you need something that is not available, a DLL in another programming language can be used.
Analysis of trading systems
With the analysis of trading systems, traders get a detailed overview of their trading systems. Here MultiCharts provides over 200 different analysis options. Be it strategy performance, run-up, and drawdown or a periodic analysis. Various key figures and ratios can also be displayed.
This gives you a quick overview of the respective trading system. Furthermore, there is also the possibility to display all trades individually in detail (trade-by-trade report). There is also a static analysis of the trades. Based on these key figures, traders can make important decisions and gain insight into their trading system.
A total of over 28 different graphs are available, which can display the analysis of the trading system individually, such as the equity curve at the close, etc. The charts are also useful for identifying improvements to the trading system.
The Maximum Adverse Excursion chart is best used to determine money management and stops for a trading strategy. It records the realized gains/losses of each trade against the drawdown in a scatter chart format. The Maximum Favorable Excursion chart is useful for determining the optimal trailing stop. Trades can be filtered with one click or displayed as a chart. More than 16 parameters are available.
Optimization of the trading strategy
A trading strategy is created by drawing on trading concepts, ideas, and observations of historical market behavior and implementing them in a trading system.
With the help of optimization, the optimal parameters can be determined. The goal is to adjust the trading system and the parameters so that the system becomes “more effective”. The optimization searches for the optimal parameters based on predefined criteria. On the basis of historical data, the optimal combination of parameters is determined, which enables the best possible result of the strategy performance.
MultiCharts offers a comprehensive selection of optimization options. Different types of optimization are thus offered.
These are as follows:
- Genetic Optimization
- walk-forward testing
- Brute force optimization
Every optimization option has its advantages and disadvantages. They can either be applied individually or combined. MultiCharts uses multi-threading. This is a technology that distributes the optimization cycles over all available CPUs. Thus, the optimization is accelerated once again considerably.
Each optimization receives a detailed optimization report. Here you get all results of the optimization, as well as a detailed display of the individual parameters. The results can be filtered according to certain criteria. Also, different diagrams of the optimization and the result can be displayed. 3D optimization diagrams are also available. Filtering according to different criteria is also possible here.
Besides creating strategies and trading systems, automated trading is one of the most popular features in MultiCharts. With automated trading, orders and strategies are executed completely automatically. Due to the large number of brokers that are compatible with MultiCharts, a large number of trading gateways are supported.
Paper trading is also available to check the functionality and error-free implementation of the trading systems.The strategy can access all attributes of the account in real-time, such as account number, number of open positions, etc. All common order types are supported and visual and acoustic alerts also help to monitor the trading systems.
MultiCharts offers two modes for automatic trading:
Each has its advantages and disadvantages. The orders and strategy positions can be displayed and tracked in real-time in a separate window. The window is called Order and Position Tracker. It is also possible to view all reports for automatic trading.
Manual and semi-automated trading
In addition to automated trading, manual trading is of course also possible. Here there is also the possibility to automate certain trading processes and thus trade semi-automatically.
The following tools support trading:
- Chart Trading
- trade bar
- Market depth (DOM)
- Automation of entries and exits
- Order and position tracker
- Hotkeys (also possible for other functions, like drawing tools, etc.)
- Forex board with one-click trading
Portfolio Trader review
The Portfolio Trader is an advanced feature for simulating and automatically trading entire portfolios that may contain hundreds of stocks, futures, and other instruments. Usually, such tools are sold separately, but MultiCharts includes this tool.
This way, entire portfolios can also be baked and optimized. All optimization options are also available in the Portfolio Trader. The settings for the portfolio can be adjusted individually. Automated trading is possible for a portfolio. Also, different strategies and instruments can be traded individually.
As with all other functions, a comprehensive report is also available here. Additionally there is a correlation matrix.
How much does MultiCharts cost?
There are four price models, which depend on the term:
- 3 months – $297
- 6 months – $497
- 1 year – $797
- Lifetime – $1,497
If you want to switch from MultiCharts to MultiCharts.NET or vice versa, this costs $199 once, and the prices for MultiCharts and MultiCharts.NET are the same.
With the purchase of a lifetime license, you will receive free forex data for one year, which has a tick data history of two years. The data history for minutes and daily bars (bid and ask data) is 11 years. It contains over 30 currency pairs.
Is there a training area?
Yes, MultiCharts also has a training area, which can be found under Help & video tutorials. Here the setup of the different brokers and data providers is described. There is also a YouTube channel of MultiCharts.
There is also an extensive online library where all functions around MultiCharts are explained. This is called MultiCharts Wiki. Whether it is setting up charts, using the various tools, or backtesting. All functions and possibilities are explained in detail.
Which awards has MultiCharts already won?
MultiCharts has already won numerous awards. Among other things, MultiCharts has already received the Members’ Choice Award several times:
- Best software for traders of automatic trading systems
- Best software for technical analysis
- Best software for professional traders
- Best software for UK EOD traders
- Best software for UK intra-day traders
- Best software for US EOD traders
- Best software for US intra-day traders
- Best software for Forex traders
In 2011 MultiCharts also received the Technical Analysis of Stocks and Commodities Readers’ Choice Award. Furthermore, there are also numerous articles and recommendations regarding MultiCharts in renowned trading magazines.
Conclusion of the MultiCharts review
MultiCharts is not without reason one of the leading trading platforms. Due to the multitude of functions, MultiCharts is suitable for every trader. This trading software is particularly suitable for those interested in automated trading systems and the associated functions, such as backtesting and optimization.
However, even purely discretionary traders or fans of chart technology should feel addressed by MultiCharts, as the range of functions is also very extensive here. Due to a large number of broker and data feed providers, you can put together the optimal combination(s) for you.
The price/performance ratio is very good and the support is also easy to reach. MultiCharts is therefore one of the leading all-in-one trading platforms, which is also confirmed by the numerous awards.
Most asked questions:
Where can I find the demo version?
The 30-day demo version can be found directly on the homepage. There is a demo version available for MultiCharts.com as well as for MultiCharts.net. Afterward, you receive an e-mail with which you can download the software. The same goes for the live version.
What chart functions do MultiCharts have?
MultiCharts has all common chart functions and chart types. Be it the drawing of trend lines, Fibonacci’s, or other tools. There is also a large number of ready-made indicators and trading signals. Volume analysis is also easily possible with MultiCharts.
How can I contact the customer support?
The support of MultiCharts is customer-friendly and easy to reach. You can send a support request via mail, phone, or via live chat. Moreover, you can reach customer service via the support formula on the website. A discussion forum is also offered.
Is MultiCharts a broker?
No MultiCharts is not a broker. it is a trading platform that can be used with various brokers. To be more precise, Multi Charts is one of the world-leading trading platforms for trading Forex.