Sierra Chart: Honest and truthful review

Sierra Chart user-ratings: $26
  • Asset varierity - 0/10
    0/10
  • Trading platform - 0/10
    0/10
  • Support - 0/10
    0/10
  • Fees - 0/10
    0/10

Facts about the company:

  • Type: Trading and charting platform
  • Regulation: No regulation
  • Costs: From $26 per month
  • Demo account: Free
  • Markets: Forex, CFD, Stocks, Futures
10/10
Comments Rating 10/10 (1 review)

Pros

  • More than 70 indicators and a wide range of graphic display options
  • High-speed data
  • Real-time backfill of selected indices and futures
  • Real-time scanning
  • Live and simulated trading 

Cons

  • Old and not user-friendly website

About Sierra Chart

Sierra Chart is a trading and charting platform for financial markets. It supports networking between exchanges and backend trading platform services. Sierra Chart is known for its live and simulated trading. This allows trading with real money as well as with a demo account. Sierra Chart is therefore a real-time charting and analysis platform.

The features of Sierrachart Software

  • Full charting and technical analysis functions
  • Has an advanced trading interface
  • Unrivaled favorable price structure
  • More than 70 indicators and a wide range of graphic display options
  • Individual chart pages, change stock markets at the touch of a button and thus be constantly informed about current price developments
  • Real-time backfill of selected indices, futures, and tracking stocks through the SCMagic module
  • Price supply with historical EOD charts of all markets worldwide through the module SCDownloader
  • Full data connection to Interactive Brokers accounts and thus intraday real-time push charts including backfill through the SCDownloader module
  • Spreadsheet function with a direct connection to Microsoft Excel
  • real-time scanning
  • High-speed data
Screenshot of the Sierra Chart landing page

Charting & Technical Analysis

SierraCharts leaves nothing to be desired when it comes to chart and technical analysis. Charts can be displayed for stocks, indices, futures, currencies, etc.

The time windows are freely selectable from 1 minute. Besides the display of candlestick charts, line charts, points & figures and OHLC charts are also available. In addition, you also have the possibility to call up any number of charts simultaneously, as well as the compilation of any number of charts in personal Chartbooks. The Chartbooks can be switched at the touch of a button.

In addition to the usual charts, you can also display Footprint Charts and the Market Profile. Charts and templates can be individually designed and saved. Upper and lower limits can be defined and chart grids can be switched on optionally. Both the trading volume and the open interest can be displayed graphically. The trades per tick can also be displayed in the chart.

There are more than 70 different indicators included, such as

  • ADX
  • ARMS Ease Of Movement
  • Bollinger Bands
  • Candlestick Formation Finder
  • Fast Stochastic
  • Iceland Reversal
  • MACD
  • Momentum
  • money flow
  • moving average
  • Number Of Trades
  • OBV On Balance Volume
  • open interest
  • pivot points
  • slow stochastic
  • Volatility – Chaikin’s
  • and many more

Any number of technical indicators can be displayed per chart. These can also be individually edited and saved.

An example for the presentation of the S&P future in the Candlestick Chart with additional indicators and the Fibonacci.

Spreadsheets & Scanning

With the spreadsheet, data can be displayed in the form of an Excel sheet. The spreadsheets support the same formulas as Excel. Data can also be exported or displayed in Excel, which is very helpful. In addition, there is also an alarm function when defined signals are reached and the possibility of real-time scanning.

Trading

With Sierra Chart you can also trade directly from the software.

The order placement can be placed either directly via the chart or the order book. In addition, alarms can also be linked to order orders, which I find very practical. But in principle this is nothing else than a limit stop order. Furthermore, orders can also be placed via lists and order tickets. Orders can also be placed via lists and order tickets. The order placement buttons are included in most windows in Sierra Chart.

Changing the order, closing the position, and deleting the order can be done quickly and easily with one click. Target and stop orders can be placed. Another highlight is that the order can also be linked to lines in the chart and current positions and history can be displayed in the chart.

Order templates can also be configured by the user, which I find very helpful. So you can create different order templates for different markets and/or trading strategies. All orders are displayed in the order list. There are several tabs to choose from. The columns in the order list can be arranged by yourself. The development of trading activities and open positions can be displayed very clearly in the portfolio.

Tickets

Brokers & Data

SierraChart offers the Broker Interactive Brokers. Everybody who knows Interactive Brokers knows that the TWS (software of Interactive Brokers) is rather unfavorable, so you can solve the problem by connecting SierraChart with Interactive Brokers.

Data for Forex, CFD, stocks, and futures are provided directly, without the need for an external data provider. This also applies to historical data, which is very extensive. In addition, all leading data providers are also offered. The following data providers are currently available:

  • CTS T4
  • TransAct
  • FXCM
  • LMAX
  • rithmic trading
  • CQG
  • BitMEX
  • GAIN Capital (OEC Trader)
  • TD Ameritrade
  • interactive brokers
  • TeleTrader
  • DTN IQ feed
  • trading technologies
  • Google Finance Data Service
  • open specification data

Price of Sierrachart Software

Sierra Chart is very cost effective. There are two different software packages. In addition, data can be booked.

The Standard Service Package costs $24 per month. It contains all functions except those included in the Advanced Features.The Advanced Features Package costs $33 per month and contains the following features in addition to the functions of the Standard Service Package:

  • TPO Chart Study
  • Numbers Bars
  • Numbers Bars Calculated Values
  • Market Depth Historical Graph
  • Volume Profile Interactive Drawing Tool
  • More historical data with the Sierra Chart Historical Data Service

Support

On the one hand, there is a very comprehensive manual, as well as various ways to contact the support. Besides online support, there is also telephone and remote support. This costs $0.75 a minute.

Support available:no information
Telephone:
Adress:business@sierrachart.com
Languages:1

Conclusion

Sierra Chart has all the tools you need to trade and analyze. The range of functions is extremely extensive.

Due to the extremely low monthly price, Sierra Chart offers the best price/performance ratio of all charting software worldwide.

However, the handling of the software needs a lot of getting used to. But if you are willing to learn how to use the software and if necessary do some research in the various forums, you will get a very good trading platform at an unbeatable price.


Most asked questions:

How much does Sierra Chart costs?

As Sierra Chart is a provider and not a broker there is no minimum deposit. However, you’ll pay for the platform itself. Prices starting from 26 USD with the standard account and rise up to 36 USD per month with the Advanced version.

What data providers are available?

It is possible to connect Sierra Chart with following providers: CTS T4, LMAX, FXCM, BitMEX, TeleTrader, interactive Brokers and more.

Is there a demo account?

When trading with Sierra Chart, it is possible to open up a free trial account. From that, you can automatically switch into a live account and use the platform in all its glory.

What is the best way to contact the customer service?

Although Sierra Chart says it has mobile support available, there is no info findable on the internet whatsoever. Regarding this and the lack of mail support, the best way to contact the customer service is via the support board directly on the website.

One Response

  1. Andre Witzel September 21, 2020

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