Magazine article Modern Trader

Omnitrader

Magazine article Modern Trader

Omnitrader

Article excerpt

Automated technical analysis

OmniTrader 2.5, a Windows-based software program from Nirvana Systems Inc., automates the technical analysis process and provides indications of technical turning points in futures, stocks, mutual funds, options and indexes.

The OmniTrader concept is an innovative approach to market analysis. Instead of converting data from one format to another, OmniTrader automatically recognizes the major data formats, including MetaStock, AIQ, TC2000 and CSI - you can even mix formats. Instead of manually drawing and updating trendlines, OmniTrader draws trendlines the way you want to see them, using a combination of sophisticated mathematics and expert system-like rules. Instead of searching for candle patterns, OmniTrader locates them and tells you their significance.

Tell OmniTrader where to find your data, about your trading style and time frame, and how to use stops, including OmniTrader-exclusive pivot point and trendline-based stops, and then run Test. Test is an artificial-intelligence-like function that rapidly optimizes over 50 technical indicators (including stochastics,. Bollinger bands, RSI, volume accumulation and many more) to trade each individual security. (If you choose not to optimize, OmniTrader will use static parameters. OmniTrader is not a black box; it will give you access to its computations.)

On a daily basis, run Signals, which combines the best indicators from Test using a mathematical formula that emphasizes the confrontation of one indicator by another, and produces a Focus List with buy and sell signals. …

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