I am a rule-based intraday and a passionate trainer trying to help budding traders to find their trading edge. Trained over 500+ traders in online and classroom programs. I believe a disciplined mindset and impeccable execution are the holy grail of trading.
 

I have been actively investing and trading in Indian markets since 2013. I use price action, market profile and options delta neutral concepts to analyze and opt for my intraday and swing trades.

I have published my book MASTERMIND OF DAY TRADING, which talks about how to succeed in day trading by adopting rule-based techniques of market profile, price action and money management.

Apart from trading and training, I also write blogs and actively answer the questions on trading and investing in my Quora profile.

  • Nataraj Malavade

What is AMIBROKER Software? How much it costs? Why use AmiBroker?

In the initial days of my trading career, I relied on the charts offered by broker's; later on, I started using separate charting platforms like AmiBroker, NinjaTrader & in a few cases, MetaTrader. These tools are used for plotting charts, scanning stocks, exploration & generic technical study of trading scripts in a sophisticated way, and, in some cases, trade automation. And software like AmiBroker offers a much more excellent feature for trading. If you are a trader and know technical analysis, charting, backtesting, searching for the right stock to trade etc., then you are reading the right blog. Let's understand this tool in a simplistic way,

What is AmiBroker Software?


AmiBroker is a full-featured technical analysis & trading system development platform with advanced real-time charting, portfolio back-testing/optimization, and scanning capabilities. AmiBroker's robust system development environment allows the trader to find market opportunities, code the systems and validate them using robust statistical methods, including walk-forward and Monte Carlo simulation. AmiBroker also allows you to trade directly from charts or programmatically, using the auto-trading interface.

( Stay tuned to my YouTube Channel for the upcoming AlgoTrading related videos. You can subscribe here: https://www.youtube.com/channel/UCNedkX_RHBG2DfAriIo_IsQ)

How much AmiBroker with DataFeed costs in India?


Cost of the AmiBroker: The AmiBroker software comes in two editions: Standard Edition and Professional Edition. You can also purchase AmiBroker Ultimate Pack Pro, a bundle of AmiBroker Professional Edition. AmiBroker is not free, and I strictly recommended not to use the AmiBroker crack version for security and legal reasons(Your computer may be detected, and they may disable this software permanently for the PC).


Here are the different charges of various editions and their differences,

Image courtesy: http://www.amibroker.com/
An important point to keep in mind is that all the above packages come with a one time charge and lifetime license. There are three editions offered, which are standard, professional, and ultimate. As per my understanding, the professional version satisfies most of the needs of developers and traders. Hence I have opted for the professional edition. Professional edition costs you $339, which is approximately 25,400 Rs at the moment.

You can visit http://www.amibroker.com/ and download the trial version. If you like the overall operations and if you feel it will be useful, then you can take a call.


Cost of the DataFeed:


Data is one of the critical factors of amibroker, and without that, you cannot use amibroker software. Importantly the data feed cost is recurring except for historical data. Before purchasing the data, you must ensure that the data feed vendor should be registered with the exchange. Broadly there are three kinds of Datafeed that you can connect with amibroker. And they are,

  • EOD Data

  • Intraday real-time Data

  • Historical data.

As the name implies, EOD data is the data that we get after completing the market every day and compared to real-time data, EOD data is cheaper. You may get it within around 5000 - 10000 Rs per annum. However, as an intraday trader, I need a real-time data connection for the scripts' live study; in this case, the cost of this type of data is expensive than all other data types. I am using AccelPix Datafeed, and I have attached the different packages he offers in the below image.

Image courtesy: AccelPix official website

Historical data is a data type used offline as a reference to backtest or study the charts offline. Hence the charges are one time for this. Once you paid for it, usually, the data feed vendor provided the data in CSV or text format, and the same can be used in uploading the data in the present or future needs.


Overall there are two costs involved one id amibroker, and the other is data feed. The price of 20000 - 40000 Rs/License that you spend for amibroker is onetime, and you also get a lifetime license. Whereas the data feed involves the recurring costs that vary from approx 5000 - 40000 Rs/Annum.

Why do I feel AmiBroker is unique, easy to use and its core features?

Let me be very honest here, AmiBroker is a real game-changer of my trading career. And it has changed the way I perceive the markets. I have used other trading software, but AmiBroker is very close to my heart because of its simplicity and interface.

Here why I think this tool as unique,

  • Easy to understand Interface

  • Speed (I can undoubtedly say it as the fastest backtest engine in the market)

  • Multiple time frame analysis in a single line of code

  • Everything is customizable

  • Powerful database management

  • Scan 100+ stocks in a matter of seconds

  • Portfolio level backtesting with dynamic position sizing.

  • Rotational trading

  • Optimization of the trading variables( I love this feature, and because of this, I could able to code more than 20+ profitable trading strategies)

  • Algo Trading and sending orders in milliseconds (Dream of any trader)

  • Monte Carlo Simulation

  • Backtested statistics reporting

  • Sending alerts or emails in real-time.

  • Amibroker Forum for discussion and one can find many answers from here.

  • AmiBroker reference function library that helps to understand the functions in a detailed manner.

  • Multi charts and windows support.

More than anything, it's so damn easy! Trust me; I am from a mechanical engineering background, but Now, I have made all my trading systems end to end automated using this wonderful tool. And also, I have designed more than 20+ profitable and complex trading strategies using this tool.

Check out my YouTube video on #AmiBroker here: https://youtu.be/pZ6mT2tzPX8 You can also watch the fundamental videos of the AMIBROKER MASTERY PROGRAM here: https://online.tradetute.com/courses/amibroker-mastery-program

Well,

I hope this article helped you. If you like the content, please share it with your friends.


Wishing you MOST & MORE 🙏

Nataraj Malavade

Twitter:https://buff.ly/39LmQqD | YouTube: https://buff.ly/36Ht2hD | Blog:https://buff.ly/33LZZYm | Book:https://buff.ly/2RR4UAU | Online Courses:https://buff.ly/2Kywmmm | Quora:https://buff.ly/3qrluY0

Samantha
May

Marketing Executive

MASTERMIND OF DAY TRADING explains the rule-based ideas of market profile, price action, and various money management topics, especially for intraday trading. How to make Money with breakout trading is a part of price action lesson that discusses how to Make Money with trading the candlestick charts and trading the price action trends.