Features
OwnData 3 is the third generation of
unique software that allows you to use third-party data in TradeStation 8
and TradeStation 9, and opens entirely new possibilities for your
trading.
NOT ALL TRADESTATION FEATURES ARE
SUPPORTED BY OWNDATA 3. Kase, Momentum and Range bars are not currently
supported. OwnData 3 also does not support RadarScreen, Time &
Sales, OptionStation, and Market Depth.
Bid and Ask Charts
Accuracy can be the key difference in determining whether your trading strategytrading strategy
is profitable or not. One of the essential features in OwnData 3 is
that you can load historical bid and ask data series into TradeStation.
You can easily apply drawings and EasyLanguage indicators, and perform technical analysis on historical ask and bid series. In order to make a chart of an ask price series, first you need to add
the symbol into the QuoteManager. Then, when you call the symbol, you
need to specify the suffix “A” after the symbol name.
For example, you have added the MSFT symbol from the eSignal datafeed.
To display a chart of the ask series, you need to request “ES:MSFT:A”.
Similarly, to make a chart of the bid series, the request would be
“ES:MSFT:B”.
Choice of data Feeds
With OwnData 3 you have a choice of data feeds from all over the world. All data feeds vary in the amount of data they provide, data quality, down-time, interruptions, bad ticks, and missing historical data (gaps). You can pick the one that suits your needs best in terms of price, quality, and the world markets that it delivers.
One of the biggest advantages is that you now can analyze worldwide markets in TradeStation. Interactive Brokers, eSignal and IQFeed, for instance, provide information for most common traded securities on most financial markets.
Backup Data VendorFor complete autotrading you need a back-up data feed to supplement your main one. There is no
need to worry about stability and having access to data when you are in
the middle of a trade – you can simply have two or more data feeds ready
to go. You can even have charts from two data feeds open side by side
so you can compare the data you receive.
Synthetic Symbols Creation
With OwnData 3 you can create your own symbols and display them in TradeStation.You can perform technical analysis, apply EasyLanguage indicators and even perform strategy backtesting. For example, you want to create your own index to reflect price movements of your specific portfolio. You can import data into Excel, perform all necessary calculations, and then feed the results into TradeStation via OwnData’s DDE profile. You can then focus your chart analysis on only the information you need.
Synthetic symbols give you the flexibility to track price movements of several portfolios that interest you, and compare them side-by-side. There are no limits to the possibilities. New Chart Types
One of the key improvements
of OwnData 3 over older versions is new supports for exotic chart types.
You can see detailed descriptions below. Point and Figure
This chart type only plots price movements, without taking time into
consideration. A column of X’s is plotted as the price rises—and O’s as
the price drops.
Renko
This chart type only plots price movements, without taking time or
volume into consideration. It is constructed from ticks and looks like
bricks stacked in adjacent columns. A new brick is drawn after the price
passes the top or bottom of previously predefined amount.
Kagi
This chart type looks like a continuous line that changes directions and
switches from thin to bold. The direction changes when the price
changes beyond a predefined amount, and the line switches between thin
and bold if the last change bypassed the last horizontal line.
3 Line Break
This chart type only plots price movements, without taking time or
volume into consideration. This chart type displays a series of vertical
boxes that are based on price changes.
Hardware Dongle
One of the key innovations
over older versions is the introduction of a new security measure – USB
hardware dongle. Now users don’t need to register each copy of OwnData 3
by generating and sending us hardware fingerprint files. It’s now very
easy to authenticate your copy of OwnData – simply insert the dongle
into a USB port on your computer, and you are good to go. You can easily use a single copy of OwnData 3 on multiple computers by
simply moving the USB dongle. Also, if something happens to your
computer, you don’t need to re-register the product with us. The
hardware dongle works seamlessly with Windows 7, Vista and XP, both 32
and 64 bit versions.
Risk Warning: Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
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