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What Technical Analysis Software Do Traders Use?

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Allen Oneil
What Technical Analysis Software Do Traders Use?

The trading market is always one of the most difficult market structures in this world. This trading market is not like the other ones. You have to have a clear vision of your trading market. And when it comes to the forex trading aka foreign exchange trading, you must have to take extra cautions for this. And that’s why traders always prefer to having one individual technical analysis software of their own.

Technical Analysis Software

Technical analysis software is the one that helps us to analyze the market fundamentals. This kind of software makes our trading much easier. We can easily get the view of different market perspectives in one place. You can easily do comparisons between different markets, shares, and exchanges. But what are the most popular technical analysis tools, software, the traders use most often? theforexmagazine has ranked up the technical analysis tools based on popularity and usability. The site is also one of the most popular trading magazines in the country. It has worldwide recognition with very strong customer growth. The site has also a pretty important blog that can help you to find new market ideas and strategies, that can help you to find solutions to your trading difficulties.

Let's show you the most preferable technical analysis software for the forex traders.

  • Signals4deals.com

Signals4deals is the first one the traders always prefer. Because, if you want to analyze all the major financial trading markets and exchanges, the software is a must. Another important thing about this software is, the software is one-hundred percent online. Volume and technical analysis are the key features the software provides. You will be able to check the live data regarding any major trade markets. And the starting price is also too low, 15$.

  • ATAS

ATAS is the second one. The professional-level software that will help you with the in-depth order flow analysis. Among the other features, Time and sales, DOM, cluster charts are also very important. Also, the software provides another key feature, you can easily be able to connect it to any major trading platforms, Rithmic, CQG/Continuum, T4 (CTS), TT, Interactive Brokers, Plaza II, and Quick. There is also an interesting fact, you can access to the US and Russian futures/stock market. And the starting price is also not very high, only 69 euros.

  • Volfix

Volfix is the third one on this list. This software provides a wide range of features for your convenience. You will find different indicators and chart types. These will help you to understand delta, volume profile, depth of a market (DOM), and open interest in any trading market. There is also an interesting feature about this software, you can place different trading orders through them, T/S, S/L, T/P, Trigger. Though the monthly fee is a bit higher, as it provides some fancy features, 150$ per month.

  • Thinkorswim

Powered by TD Ameritrade, US Trade and futures brokerage firm, Thinkorswim (TOS) is the fourth choice of this list. And the fun part is, you can trade on this software itself. The features it provides technical indicators, open interest, market profile, volumes, and also news. But, getting this software is a bit difficult, you need an account with TD Ameritrade, or can request a 60-day trial.

 

Verdict

Choose the right technical analysis software for your needs and stay connected with worldwide traders and brokers.

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Allen Oneil
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