MetaStock is another one of the longtime players in the technical analysis industry having been founded in the late 1980s. There are several versions of the software available; the most useful for frequent traders is MetaStock R/T which utilizes real-time trading data from your choice of exchanges. It includes over 150 indicators and line studies plus indicator interpretations that help you understand how to trade each indicator. For advanced users, The Indicator Builder lets you write your own indicators.
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