MetaStock Technical Analysis & Trading Test & Review

I’ve been using MetaStock for nearly a decade, and I’m excited to share my thoughts on this powerful trading platform.

MetaStock gives users over 400 options for creating custom technical analysis charts and indicators. It combines global market data, real-time news, and features for backtesting trading systems and forecasting market trends.

While there is a steep learning curve, MetaStock can be a game-changer for serious traders looking to improve their analysis.

Review Test Results and Scores

After 20 years of using MetaStock, I rate it 4.4 out of 5 stars overall. It shines in a few key areas. The forecasting and backtesting are great—I’d give that full marks. The software itself is solid, too. For trading features, it’s pretty good but has some room to grow.

MetaStock Rating: 4.4/5.0

Pricing: ★★★★★	News & Social: ★★★★★
Software: ★★★★★	Backtesting: ★★★★✩
Trading: ★★★✩✩	Pattern Recognition: ★★★✩✩
Screening: ★★★★★	Candlestick Recognition: ★★★✩✩
Charts & Analysis: ★★★★★	Usability: ★★★✩✩

Pros

MetaStock really stands out in screening, news, charts, and testing your strategies. I give all of those top scores.

• A fantastic selection of automated “Expert Advisors”
• Deep backtesting that’s super helpful
• Unique stock price forecasting
• A big library of add-on professional strategies
• Top-notch charts, indicators, and real-time news
• The Xenith add-on is a great alternative to Bloomberg Terminals
• Great customer support and educational webinars
• Plus, it works both online and offline!

Cons

I found it fairly easy to use, but it’s not the most intuitive platform. Still, based on my tests, there’s a lot to like about MetaStock.

• Learning MetaStock takes time.
• The old-school Windows app design can be annoying.
• There are just way too many add-ons to keep track of.

My Verdict

I think MetaStock is a solid choice for serious traders who need top-notch charting and analysis tools. The platform packs a punch with its 400+ charts and indicators for global markets. I’m impressed by Refinitiv’s strong backtesting features and real-time news. These tools can really help traders stay on top of market moves.

But I have to point out the steep price tag of $265 per month. That’s a big investment, even if it rivals some high-end platforms. I wish it had some of the cool AI features that newer platforms offer.

Overall, I’d say MetaStock is best for traders who:
• Need great technical analysis tools
• Want solid real-time news
• Trade in global markets
• Value good customer support

Top Features

MetaStock has some cool things going for it. I really like the automatic trading helpers they call “Expert Advisors.” They make it easy to test trading ideas without doing all the work yourself. The backtesting is top-notch, too—you can see how a strategy would have performed in the past.

Take a Look at MetaStock

One unique thing is their stock price forecasting tool. It tries to predict where prices might go, which is pretty neat. They also have tons of pro trading plans you can add on if you want.

The charts and market info are really good. If you get the Xenith add-on, it’s almost as fancy as what the big Wall Street firms use. I also appreciate that they have helpful people to talk to if you get stuck, plus online classes to learn more.

How It Stacks Up

MetaStock is a solid choice for traders, but it’s not the top dog. I found it ranks fourth among similar products, passing 7 out of 11 tests. For automated stock chart analysis and bot trading, I prefer TrendSpider. If you’re into long-term growth, dividends, or value investing, choose Stock Rover. Trade Ideas is my go-to for AI-driven day trading. And when it comes to real-time news trading, Benzinga Pro is a better pick.

MetaStock works for stocks, options, forex, and futures globally, but depending on your trade, other tools might better suit your needs. A good free alternative is Finviz, but it lacks MetaStock’s technical analysis power. Finally, TC2000 is an excellent low-cost choice for US traders looking ease of use, particularly for options trading.

Cost and Plans

MetaStock offers different pricing options for traders. The basic plan, MetaStock D/C, costs $59 a month. It gives you daily charts and end-of-day data. You also get tools for technical analysis.

If you want real-time data, MetaStock R/T is the way to go. It’s pricier at $100 a month, but you get up-to-the-minute charts.

For serious traders, there’s an add-on called Xenith. It costs $165 extra per month. With Xenith, you get real-time news and can screen stocks globally using fundamental data.

The top-tier plan combines MetaStock R/T and Xenith and costs $265 a month. It provides real-time data, news, and fundamentals from Refinitiv, a leading name in financial data.

Saving Money on MetaStock

Want to save some cash on MetaStock? You’re in luck! New users can try it free for 30 days, and this trial can save you up to $250.

Get a MetaStock Special Discount

I’ve got even better news. Through my partnership with MetaStock, I can offer you a special deal. You can get 3 months of MetaStock R/T and Xenith for the price of 1 month. That’s a $500 saving!

Can I Use MetaStock for Free?

Sadly, MetaStock isn’t free. They don’t have a free version of their software. But don’t worry! You can still try MetaStock R/T at no cost for 30 days.

Chart Analysis Tools

MetaStock stands out as a top-notch choice for chart analysis. It’s packed with over 300 price and volume indicators, including some fancy ones like Darvas Box, Gann, Fibonacci, and Ichimoku Cloud. I love that it covers all the basic chart types, plus some cool extras like Point & Figure, Equivolume, and Market Profile.

One thing I really like is how you can make your own indicators or ask MetaStock for help. And if you’re into testing your strategies, MetaStock’s got you covered with its backtesting features.

The latest version of MetaStock has some nice upgrades. They’ve improved OptionScope and Power Console and thrown in two new trading systems for free. You even get their best-selling Performance Systems Plus at no extra cost, along with Daryl Guppy ATR indicators.

MetaStock Xenith vs Eikon

Let’s talk about MetaStock Xenith and Eikon. Both give you top-notch market data and news in real-time, in 14 languages all over the world. But here’s the cool part – MetaStock Xenith is like Refinitiv’s Eikon, but it costs way less. If you’re a MetaStock customer, you can get a special version of Eikon at a discount. It’s a sweet deal if you ask me.

Now, MetaStock is made for PCs, but don’t worry if you have a Mac. You can still use it with some PC emulation software. Setting it up takes a bit more work than some other options. You’ll need to download and install it, then set up your data feeds for the markets you want to watch.

I’m impressed by how much MetaStock covers. It works with all stock exchanges and handles stocks, ETFs, mutual funds, options, futures, forex, and bonds.

MetaStock does things a bit differently. The software runs on your PC, and you can buy licenses outright instead of paying monthly. They also have a marketplace where pro traders sell their trading systems and signals as add-ons. It’s pretty neat.

Top 5 AI Trading Software to Revolutionize Your Investing

Managing Your Trades

I find MetaStock great for spotting trade ideas and doing technical analysis. But when it comes to actually placing trades, I have to use a separate broker platform. MetaStock doesn’t connect directly to brokers or let me trade right from the charts.

I also can’t track my profits and losses in real-time within MetaStock itself. While this isn’t ideal, MetaStock’s trading systems and analysis tools make up for it.

Scanning the Market

I love using MetaStock R/T with Xenith for my market scanning needs. It’s packed with awesome features that help me stay on top of the latest market trends.

The real-time data from Refinitiv is super handy. I can see up-to-the-minute info on stocks, options, bonds, and more. Plus, I get Reuters news as it happens, which is great for staying informed.

One of my favorite things is global fundamental data. I can look up information on companies, countries, and whole industries. It’s like having a giant library of financial information at my fingertips!

Here are some cool things I can do with MetaStock R/T and Xenith:

• Create custom watchlists with both technical and fundamental data
• Scan for specific market conditions across global markets
• Check out detailed company info, including debt and top investors
• See level II market liquidity data

I find the news coverage especially useful. I get:

• Fast updates from Reuters
• TV news through my phone or smart TV
• Insider alerts and expert analysis

The financial snapshots are super helpful too. I can quickly see:

• Stock quotes and charts
• Analyst estimates
• SEC Filings
• Upcoming events

While I wish the MetaStock and Xenith parts worked together a bit better, I still think it’s an amazing tool for exploring the markets. Whether I’m looking at stocks, bonds, or forex, I’ve got all the info I need to make smart decisions.

Testing Your Trading Strategy

I love using MetaStock’s System Backtesting feature to check how trading strategies perform. I can test 58 built-in trading systems called “Expert Advisors.” These systems look for specific chart patterns to generate buy and sell signals.

I tried testing the MACD Expert System on all the Nasdaq 100 stocks. It only took about a minute to run. When it finished, I got a list of every trade the system would have made, along with how much money it would have lost during drawdowns.

I can click on any trade to see more details like:

• Why it was made
• How big it was
• How long it lasted
• If it made or lost money

The pre-made systems are nice, but making my own is even better. If I know how to code, I can create custom strategies in MetaStock. If not, I can ask MetaStock or one of their partners to help build one for me.

MetaStock partners also sell many ready-made trading systems. Many come with training and webinars to help me use them effectively.

Testing strategies like this helps me see what works before risking real money, which is a great way to improve my trading.

MetaStock Price Predictor

The MetaStock Price Predictor is a cool tool that helps guess future stock prices. It uses many different strategies to do this. The Price Predictor looks at what happened in the past and how it affected stock prices, then tries to figure out what might happen next.

Predict Future Prices with MetaStock

What makes this tool special is how it can use hundreds of different ways to predict prices. That’s pretty neat! It’s not like other tools out there.

The Price Predictor uses “recognizers.” There are over 70 of these. They look for specific patterns in stock charts. For example, they might spot when a stock hits a new high or low price for the year or notice certain shapes in the price chart.

After the tool does its work, you get a report you can play around with. You can look through all the different predictions it made. This helps you plan your trades better. You can get a good idea of what might happen and how much money you might make.

Live Market Updates

I find real-time data crucial for keeping up with market moves. MetaStock R/T gives me intraday updates for $150 a month. I can add live news and fundamentals with MetaStock R/T plus Xenith for $250 monthly.

There’s a $99 monthly package for forex traders. I like the worldwide futures, commodities, and derivatives bundle for just $75 per month—it’s a good deal.

If I don’t need up-to-the-minute info, MetaStock D/C is a budget-friendly choice at $59 monthly. It gives me daily charts without the higher cost of real-time feeds.

Is MetaStock User-Friendly?

I found MetaStock a bit tricky to get the hang of at first. It’s not the most intuitive software out there, and the different parts don’t always mesh smoothly, so I had to spend some time figuring out how everything works together.

But don’t let that scare you off! Once I got over the initial learning curve, I was impressed by all the automated tools. There are tons of “expert advisors” to help analyze stocks. That makes it worth putting in the effort to learn, in my opinion.

Is MetaStock a Good Choice?

MetaStock R/T is a great pick for investors and traders. It has tons of research and news from Refinitiv Xenith. Plus, MetaStock lets you do deep analysis, test strategies, and make forecasts.

If $250 a month is too much, don’t worry! You can get end-of-day data, and all MetaStock features starting at just $59 per month. That’s pretty reasonable. You can even buy a lifetime license if you want.

I’d say MetaStock is worth it if you’re serious about trading or investing. The tools and data can really help you make smart choices.

🌟 Dive into our curated list of free stock analysis software and ignite your creativity! Unleash your potential today! 📈✨

Top 5 Free Stock Chart Tools Hands-on Test & Review