Stock charts are an essential part of a stock trading company’s business. Therefore, stock charting software is a critical component in the success of any trading firm. If you’re looking for the best stock charting software, five features need to be included. Let’s look at these five features and see how they measure up to the requirements for successful stock charting software.
- Ease of use
The software should be easy to install and use. In addition, it should be intuitive to start using it right away without any training.
The software should also be scalable to grow with your business. You have to have a flexible system that will allow you to add new features and functions as the company expands.
- Robust charting features
The software should offer a wide range of charting options to create the exact type of chart you need. In addition, it should include all the technical indicators and drawing tools that you use to make trading decisions.
It should also provide real-time data updates so that you’re always working with the most up-to-date information.
The software should be customizable so that you can create a unique work environment that meets your specific needs. For example, you should be able to change the colors, fonts, and layout of the charts to make them easier to read.
You should also be able to set up alerts to notify you when certain conditions are met on the chart. For example, if the software detects a strong trend forming in one direction, you can set up an alert to have your smartphone send you a text message.
- Customizable indicators
Indicators are the lines and shapes you draw on a chart to identify trends, support or resistance levels, or other significant price movements. You should be able to select from various technical indicators when creating your customized charts. It’s also essential for the software to provide real-time data updates to update these indicator values.
The software should be easy to use for everyone in your company. It doesn’t matter if the person using it is a trader, salesperson, or data analyst; they all need an intuitive program that’s straightforward to navigate. The user interface also has to make sense, so there aren’t any complicated menus or options that are impossible to figure out.
The best way to find out if a piece of software is right for your firm is by trying it out. Download trial versions to test the various features and see which ones work well together. They’ll fit into your workflow, support all of your existing systems, and help you grow as a company.