MultiCharts Reviews & Ratings

4.7/5

“Suitable for Algorithmic Trading”

MultiCharts is a good fit for traders interested in algorithmic trading. With PowerLanguage, you can automate strategies, making trading more efficient. However, if you’re not familiar with coding, it may take some time to get accustomed to the scripting language.

Pros : MultiCharts’ support for automated trading through its scripting language, PowerLanguage, is fantastic. It allows for fully customized trading strategies without manual input, which I find very efficient.

Cons : Setting up automated trading can be challenging without coding experience. A few more beginner-friendly resources would be helpful.

Switched from : Smart Trade System

Reason to switch : I needed a more customizable scripting tool for automated trading, and MultiCharts offered just that.

4.5/5

“Versatile for Portfolio Management”

MultiCharts is a great option for traders with diverse portfolios. With the Portfolio Trader, you can monitor and manage numerous assets from one platform. It could use a bit more organization in its layout, but it gets the job done.

Pros : The Portfolio Trader tool on MultiCharts is useful for managing multiple assets at once. It’s made handling a variety of stocks and futures much simpler for me.

Cons : Portfolio Trader could be improved with better visual organization. Navigating between multiple assets can get confusing.

Switched from : Smart Trade System

Reason to switch : I wanted a platform with better support for portfolio management, and MultiCharts has been helpful in that aspect.

4.3/5

“Efficient Tool for Data Management”

MultiCharts is perfect for traders who need robust data management options.

Pros : MultiCharts offers solid data management through QuoteManager, which helps me maintain and organize data effectively. It’s useful for managing historical data too.

Cons : It can feel a bit clunky and slow when handling large amounts of data. A performance upgrade would improve it.

Switched from : GoCharting

Reason to switch : MultiCharts offered better data organization tools, especially for local data management.

4.2/5

“A Great Platform for Detailed Market Analysis”

MultiCharts is a software designed for traders and investors who want a thorough look at the market. With features like depth of market analysis and automated trading, it provides powerful tools to analyze, strategize, and execute trades. Its technical analysis options allow for a wide range of strategy development, but it takes time to get comfortable with all the features.

Pros : MultiCharts offers some really advanced tools for tracking and analyzing market data. The chart trading feature makes it easy to monitor price shifts, and the volume analysis tools are quite useful for understanding trading volumes.

Cons : While the features are quite powerful, it took me a while to figure out how to set up the tools I needed since there's a learning curve. It could use more beginner-friendly guides.

Switched from : StockRadars

Reason to switch : I needed more detailed options for strategy backtesting and found that MultiCharts offered deeper insights and data options.

4.2/5

“Strong Tools for Strategy Optimization”

MultiCharts is perfect for anyone who needs robust optimization tools. With options for backtesting and customizable trading strategies, it helps traders maximize their efficiency. The platform is rich in features, though certain processes can take longer with larger data sets.

Pros : The strategy optimization features are exceptional, providing in-depth backtesting tools that help me refine my strategies. I can tweak parameters and test variations to see which works best, which is a huge advantage.

Cons : It can be a bit slow when running backtests with large data sets. The software might also benefit from additional performance tweaks.

Switched from : MetaTrader 4

Reason to switch : MultiCharts offered a more thorough and user-friendly backtesting feature, something I really needed for my trading style.

4.2/5

“Comprehensive Platform for Volume Analysis”

MultiCharts is ideal for traders who need comprehensive volume analysis tools. From volume bars to detailed volume profiles, it’s designed to help you understand the market deeply. Although certain features feel a bit old-fashioned, the functionality is solid.

Pros : MultiCharts offers a variety of tools for volume analysis, such as volume bars and indicators. This has been helpful in understanding market trends and making informed trades.

Cons : Some of the volume tools feel a bit outdated. An update with more modern visuals would enhance the experience.

Switched from : OptimSignals

Reason to switch : MultiCharts has more advanced volume analysis tools, which are essential for my trading approach.

4.1/5

“Ideal for Visual Traders”

For visual traders, MultiCharts offers a unique experience with its chart-based trading and technical analysis tools. It provides quick, easy-to-read displays of market changes and trading opportunities. However, having a few more options to adjust the interface would improve user experience.

Pros : MultiCharts shines with its visual trading features, making it easy to see market trends and trading signals on the charts. This visual setup helps with quick decision-making, especially when day trading.

Cons : Although the visuals are great, the interface can feel crowded. Some customization options would make it easier to arrange everything the way I like.

Switched from : Esignal

Reason to switch : I found MultiCharts’ chart analysis tools better for my style, making it simpler to track price movements visually.

4.1/5

“Convenient for Strategy-Based Traders”

MultiCharts is a great tool for those interested in strategy-based trading. It offers features to develop, test, and optimize various trading approaches, making it easier to find what works. Though setup can take some time, it ultimately helps improve strategy success rates.

Pros : The strategy trading options on MultiCharts are extremely detailed, allowing for specific parameters to be set and tested. This is perfect for traders who rely heavily on technical analysis.

Cons : The setup process can be lengthy. Setting up each strategy to match my exact needs took longer than I expected, though it was worth it in the end.

Switched from : NinjaTrader

Reason to switch : I wanted more flexibility in testing strategies, which MultiCharts handled better with its advanced optimization tools.

4.1/5

“Ideal for In-Depth Market Analysis”

MultiCharts is a powerful choice for traders who want to scan the market in real-time. With tools for monitoring multiple securities, it keeps you updated on possible trades. However, it requires a fair amount of processing power to run smoothly.

Pros : MultiCharts includes a market scanner that allows me to keep tabs on various securities in real-time, which is invaluable for finding new trading opportunities quickly.

Cons : The market scanner can be resource-intensive, which sometimes slows down my system.

Switched from : Esignal

Reason to switch : MultiCharts offered a more detailed and comprehensive market scanner that suited my needs better.

4/5

“Great Platform for Backtesting Strategies”

MultiCharts is excellent for those looking to backtest their trading strategies. It offers thorough analysis and provides detailed performance reports, helping traders make necessary adjustments. Although backtesting can be slow with large datasets, the results are very reliable.

Pros : Backtesting on MultiCharts is quite accurate and provides a detailed report. I can rely on it to evaluate my trading system and see where improvements are needed.

Cons : Running backtests on large datasets can take longer than expected, which sometimes delays my process.

Switched from : Edelweiss TX3

Reason to switch : I needed more in-depth backtesting reports, which MultiCharts provided.