Technical analysis is a method of security analysis that helps in forecasting prices of stocks by using their past data. There are many tools and software available for conducting stock market technical analysis.
Meta stock is one of the most popular stock market technical analysis software. The charting and technical analysis pertaining the stock and prices can be done by using Metastock. It is basically a proprietary computer program that was released in 1985 by Computer Asset Management. The product mainly belongs to Innovative Market Analysis and has two versions: Real time and end of day versions. The first version software was designed for Apple II+ and was able to perform several financial planning metrics. Later on advanced versions were developed. Meta Stock Software mainly analyzes the securities associated with individual process like futures, stock, mutual funds etc. Following are the reasons it aids in stock market technical analysis.
Meta stock software offers a complete package with the main features like charting functionality. This is available in various styles in it. The software also has pre built technical indicators that are 250 in number.
Back testing and Scanning
Meta stock helps in stock market technical analysis by filtering back testing, scanning and automated analysis. With the help of its other features like line study drawing, custom indicator creation and forecasting it has gained a lot of popularity in stock market world.
The charting available in Meta stock software includes nine core chart styles. These may be in the form of lines, bars, points and figures, candlesticks along with a few others. You are provided with the options of customization in the Meta stock software.
The software is convenient to use as it displays up to 100 charts simultaneously. You can also re size and move the charts depending upon your desire. Each and every chart in the software support the trendline based studies and indicators in either in independent inner windows or in price bars. You can also adjust the fonts, line thickness as well as colors of the charts.
Talking about the indicators, there are several predefined indicators. The users of Metastock software can custom 250 indicators with the help of Metastock Formula Language. The language used in this software is also helpful in system tests and exploration. The language has been tailored according to the mathematics of stock market technical analysis. There is Metastock indicator builder that works with investing functions in stock market.
Another reason to use Meta Stock software is its ability to scan and filter. With the help of metastock explorer , traders can scan thousands of securities utilizing its trading criterion. This criterion helps investors to use security systems by fitting in the certain strategy.
In the Metastock software, there is an enhanced system tester that helps the traders in the creation of their trading strategies before risking their money in the market. With the help of this tester, they can also back test, optimize and custom their strategies using formula language. Editing is allowed and traders can optimize the buy and sell conditions in stock market technical analysis. This is one of the most important reasons of using MetaStock in technical analysis.
Automated Chart Analysis
Last but not the least; automated chart analysis is also a very important reason for the popularity of Meta stock. This works by providing the interpretive analysis associated with the industry professionals. This can be shown through commentary, alerts, trends and symbols. These may range from simple price and volume indicators to complex ones indicating multiple conditions. Experts predicted assessment is also shown through expert commentary.