Although technical analysis software does not replace training, practice, and experience, they do assist you to transform your trading. They help you become a better trader and investor by helping you in conducting flawless technical analysis.
Each of the best technical analysis software offers different features and benefits. Some tools help in conducting real-time simulations of financial markets. You can understand price fluctuations through those simulations and then adapt your trading accordingly.
The best technical analysis tools also help you obtain real-time data and the latest market news. Real-time data, the latest market information, and news guide you in the decision-making process. They also allow backtesting so that you can test your trading strategies. In short, technical analysis tools can transform the way you trade.
If you are looking for some of the best technical analysis tools, then the following list of options is for you. We have analyzed and reviewed each of those options to give you the information you seek.
The following are our top 11 picks as the best technical analysis tools.
MetaStock has been a global leader in market analysis tools for more than 30 years. The company was established in 1982 and has significantly progressed since then. MetaStock has helped thousands of self-directed traders of all sizes by providing award-winning charting and analysis tools. Its line of market data and trading software allows traders of all levels to conduct technical analysis, analyze the market, and backtest strategies with confidence.
- There are several MetaStock variants for traders of different types and levels. Different versions include MetaStock R/T and MetaStock D/C.
- MetaStock R/T is for real-time traders who capitalize on real-time data to enter trades in real-time throughout the day.
- XENITH gives you access to the latest market news, analytics, commentary, data, and insights you need for making quick but accurate decisions.
- MetaStock D/C is for end-of-day traders and is a complete charting and analysis toolbox. DataLink powers MetaStock D/C and is available for equities, Forex, futures, commodities, and derivatives.
- The ultimate tool for backtesting strategies
- Ensure best indicators and charts selection
- Provides real-time market news, analytics, and data
- Covers all international stock exchanges
- You can buy a subscription as well as purchase the software
- Offers no broker integration
- No mobile application
- MetaStock R/T subscription price is $100 per month. You can also make a one-time purchase of the software at $1,395.
- MetaStock D/C subscription price is $69 per month. You can also choose an annual subscription at $745 per year.
2. NinjaTrader – Futures Trading Software and Brokerage
NinjaTrader gives you a golden opportunity to start your trading endeavor with free advanced charting, market analysis, and trade simulations. The trading simulator is the most distinguished feature by NinjaTrader. It allows you to practice your trading strategies and gain insights into current market conditions without any risk. Moreover, you can also gain access to other key features like fundamentals, technical indicators, and research tools. You can also develop an intraday trading system for making smart trading moves. In short, NinjaTrader is one of the best technical analysis tools that can cover you from every angle involved in trading.
- NinjaTrader simulator allows you to test your trading strategies and ideas without any risk. You can also gain a real sense of the market conditions without risking your money.
- Play, pause, and rewind the markets is a unique feature that enables you to analyze the historical data tick by tick.
- Thousands of apps and add-ons help you customize your software with indicators, strategies, and signals of your choice.
- NinjaTrader’s advanced charting permits visualizing the world’s leading markets, analyzing the order flow, and finding the best trading opportunities.
- The interface is user-friendly that allows you to trade what you want, how you want to trade and facilitate fast order executions.
- Highly customizable software
- The trading simulator allows testing of trade ideas and strategies without any risk involvement
- Advanced trade management for keeping risk under control
- A lot of educational content including guides, videos, and webinars for learning
- Free access to advanced charting, market analysis, and trade simulations
- Expensive option
- Requires coding to program individualized strategies
- Free – Provides various key features for free if you have a NinjaTrader funded account.
- Lease – You can gain access to the software through a $720 annual lease, $425 semi-annual lease, or $225 quarterly auto-renewal subscription.
- Own – You have the option of purchasing the software by paying $1,099 for once or 4 monthly payments of $329.
eSignal also brings seamless trading experience, reliability, versatility, and affordability for traders across the globe. If you want global reach into the world’s markets, eSignal is for you. You can avail of advanced charting and technical analysis tools that connect to fifty-plus brokers for easy trading. eSignal gives you access to 100+ indices across multiple global markets, stocks, Forex, OTC markets, ETFs, options, futures, and mini-futures. No other technical analysis tool is parallel to eSignal when it comes to customization. You can customize your charts to meet your particular needs. Moreover, uptime up to 99.9% empowers you never to miss a trading opportunity.
- Endless selection of advanced technical analysis, charting, and drawing tools enable you to analyze market conditions with precision and perfection.
- Tick level data is essential for trading and eSignal’s remarkable coverage of tick level data assists you in making flawless trading decisions.
- Customizable trading charts are another unmatchable feature that allows you to enter and exit trades according to your own preferences.
- To make your trade execution as easy as counting 1, 2, 3, eSignal enables you to choose the broker of your choice from 50+ options.
- eSignal owns multiple server farms that are geographically dispersed and gather data from 100s of the world’s exchanges. The reliable real-data streams allow you to watch market trends and execute your trading strategies without missing a beat.
- Backtesting and scanning tools help you in testing and improving your trading strategies before risking real money.
- 50 plus broker options to choose from
- Real-time data
- Customizable charts
- Advanced technical analysis tools
- Remarkable backtesting and scanning tools
- Exceptional customer support services
- Access to multiple educational resources for free
- Higher exchange fees
- Mobile application only available for top two subscription packages
- Classic – Classic package is available at $56 per month or $564 per year
- Signature – Signature package is available at $183 per month or $1,657 per year.
- Elite – Elite package starts at $373 per month or $3,593 per year.
TC2000 is among the pioneers of platforms offering unique screening and trading features. The platform has been in the game for the past 25+ years. TC2000 offers various remarkable features combined on a single intuitive platform. The software offers phenomenal versatility as you can run it on the device of your choice. It will perfectly work on Mac, laptop, PC, and android. The mobile app is fully functional and you can run everything on your smartphone. TC2000’s dynamic technical analysis features, charting tools, watchlists, built-in options strategies, and much more ensure a unique trading experience that you can find nowhere else.
- Options charting powered by historical and streaming bid/ask data help you understand what is going on in the market. You can easily plot intrinsic value, time value, and more.
- The phenomenal charting feature also allows you to draw trendlines on your charts to help yourself in the identification of trends and patterns.
- Multiple stock and options trading strategies enable you to place limit orders, multi-leg orders, OCA’s, bracket orders, and more.
- Unlimited paper accounts allow you to refine your trading ideas and strategies by practicing as much as you can. It also enables you to learn trading through practice without risking a penny.
- Watchlist features help you in staying organized by manual rearrangement options.
- TC2000 also allows you to keep a journal and keep notes about anything that catches your attention.
- Chart library, built-in options chain, lots of indicators, limit order placements, etc. are among key TC2000’S features.
- Feature-rich software with numerous staggering features
- Remarkable charting tool
- A wide range of technical indicators
- Multiple stocks and options built-in strategies
- Multiple options to exit trades for risk management
- Fully functional mobile app
- Affordable subscription fees
- Exceptional customer support services
- Unreliable backtesting and requires add-ons
- The latest version lacks in social aspects
- Silver – Silver plan price is $9.99 per month or $7.49 per month upon bi-annual payment or $8.32 per month when paying annually.
- Gold – Gold plan price is $29.99 per month $22.49 per month upon bi-annual payment or $24.99 per month when paying annually.
- Platinum – Platinum plan price is $89.98 per month or $67.49 per month upon bi-annual payment or $74.98 per month when paying annually.
Charts, analysis, alerts, insights, scanning, backtesting, automation, monitoring, and much more is available on the remarkable TrendSpider technical analysis tool. The software offers as many features as you want from technical analysis software. The most astonishing and distinguished TrendSpider feature is automation. Fully automatic analysis on any chart of your choice takes less than sixty seconds. That is how TrendSpider speeds up your analysis. When you do technical analysis on your own, there are chances of costly mistakes. But, when TrendSpider automatically analyzes, it allows you to save your time and improves accuracy. Moreover, real-time data access enables you to make timely decisions and maximize your trading profit. That is what TrendSpider is all about and that’s why TrendSpider is among the very best technical analysis software. If you are serious about making your technical analysis flawless, TrendSpider is your obvious choice.
- Remarkable charts enable you to find market trends with precision and perfection.
- Real-time data is the oxygen for trading and TrendSpider ensures access to real-time data to help traders make timely decisions.
- Automation helps you avoid the grunt work of conducting technical analysis by hand. You can also customize the automation process to do your way.
- Artificial intelligence, formulas, algorithms, and maths power automation of technical analysis and therefore, it gets more accurate and perfect.
- Automation also removes gut feelings, biases, emotions, social influences, etc., and thus enables you to avoid making costly mistakes.
- Power scanner helps you scan millions of stocks to find stocks of your choice.
- Simple but powerful user interface
- Allows full automation of technical analysis including Fibonacci trend direction
- Remarkable charting experience
- Powerful backtesting tool but simple to use
- Powerful scanning and monitoring tools
- Lacks in auto trading options
- Charts are confusing early on
- Master – Master plan price is $97 per month or $1,164 per year.
- Elite – Elite plan price is $65 per month or $780 per year.
- Premium – Premium plan price is $33 per month or $396 per year.
TradingView, trusted by more than 30 million users and one of the best technical analysis software providers, is another classic option for traders. It is one of the most versatile platforms that offers almost everything when it comes to trading and investing. Technical analysis tools, fundamental analysis, chartings, scanning, broker integration, and much are available on a single platform. Furthermore, if you want to be a part of the traders’ community, TradingView gives you the opportunity. You can chat in real-time with traders from all over the world and discuss your trading ideas as well as learn from others. What else is better than having global markets in your hand? TradingView connects with 90 plus exchanges from across the globe and 40 plus crypto exchanges. This is what TradingView brings for you to experience a totally new trading environment.
- The most advanced and intuitive charts are what traders need. Whether you want to observe the latest price of a stock or analyze price patterns, TradingView charts can cover you.
- 12 chart types, up to 8 charts per tab, bar replay, spreads, and custom time intervals up to seconds make TradingView charts the best.
- A unique set of tools to conduct technical analysis helps you do your analysis with ease and perfection.
- More than a hundred technical indicators besides 100,000 plus community build indicators allow you to choose the best indicators.
- Technical analysis can never go wrong when you also have access to 50 plus drawing tools, multi-timeframe analytics, volume profile indicators, and candlestick pattern recognition tools.
- Remarkable alerts with features like up to 12 alert conditions, alerts on price, strategies, and indicators, Pine Script alerts, etc. make TradingView alerts a distinguishing feature.
- Best charts for technical analysis
- Multiple technical indicator options
- Paper trading for practice and gaining experience
- Real-time data access
- A community for discussing trade ideas
- Customer support service is only for Premium plan subscribers
- Backtesting isn’t available
- Pro – Pro plan price is $14.95.
- Pro + – Pro + plan price is $29.95.
- Premium – Premium plan price is $59.95.
StockRover is an integrated and comprehensive investment research platform. It is one of the best technical analysis tools that is developed by individual investors who understand the needs of fellow investors. StockRover simplifies as well as improves the way investors and traders conduct their research and technical analysis. Advanced charting tool, broker integration, screening, portfolio analytics, real-time alerts, and much more is offered by StockRover. Moreover, the tool is easy to learn and simple to use. StockRover also works seamlessly on every device including smartphones, tablets, desktops, and laptops.
- Stock charting is phenomenal and different from other software because it offers easy-to-use and capable chart controls. Portfolio charting, charting fundamentals, benchmark comparisons, valuation charts, and many other valuable chart controls are part of StockRover charts.
- Comparison is the specialty of StockRover. You can compare competing investment options and find the best possible investment opportunities.
- Portfolio management allows you to manage your portfolio. You can link it to your broker for automatic portfolio updates.
- An astonishingly powerful screener allows you to scan millions of stocks and find the best stocks that suit your trading style and strategies.
- StockRover also provides research reports on your chosen stocks. It allows you to dive deep into any company by getting research reports containing all the information you need.
- A platform that offers multiple key features
- Remarkable charting tool with chart controls
- User-friendly interface
- Versatile and seamlessly works on all devices
- Powerful scanner with powerful scanning capabilities
- Limited integration of technical indicators
- Unsatisfactory customer support services
- Lack of community and social interaction
- Essentials – Essentials plan price is $7.99 per month or $79.99 per year.
- Premium – Premium plan price is $17.99 per month or $179.99 per year.
- Premium Plus – Premium Plus price is $27.99 per month or $279.99 per year.
TradeIdeas is another award-winning technical analysis software that is helping thousands of traders make better decisions. Holly is the most distinguished TradeIdeas feature that is powered by AI. It fully automates your trading and manages your trading cycle. Simulated trading is also available at TradeIdeas to backtest and practice trading strategies. The tool also excels at real-time data and gathers data directly from multiple stock exchanges. TradeIdeas books its place in the list of the best technical analysis software because of the multiple features it brings for you.
- You can scan millions of stocks, identify the best stocks, and build trading strategies with TradeIdeas. You can also automate your strategies so that the software directly executes them through your linked Interactive Brokers account.
- TradeIdeas charts offer versatility and can transform your ways of conducting technical analysis. Chart windows also allow you to visually confirm alerts instantly.
- The AI-powered Robo -advisement is a unique TradeIdeas feature that helps you find a set of stocks with the highest probability for alpha in the next trading session.
- Simulated trading feature synchronizes with AI and data generation tools. It helps you in making your trading strategies perfect.
- Features powered by AI
- Exceptional social trading
- Phenomenal simulated trading
- Automates execution of trading strategies
- Remarkable customer support services
- Extensive data streams often overwhelm beginners
- Charts lack indicators
- Premium – Premium plan price is $2,268 per year.
- Standard – Standard plan price is $1,068 per year.
VectorVest is another great option for traders for market guidance. The platform is simple but highly intuitive and informative. VectorVest doesn’t only provide you with data but also gives you answers. It tells you what to buy, what to sell, and most importantly when to buy or sell. VectorVest automatically ranks the stocks and the best stocks rise to the top. Thus, you can seamlessly identify the best trading opportunities for you. It also provides you with fundamental data that you can couple with technical analysis. VectorVest is highly feature-rich software that offers a variety of commendable features.
- Makes technical analysis effortless. VectorVest’s algorithms sum up a stock’s influencing factors into three indicators. Traders get some simpler ways to invest through Value, Safety, and Timing indicators.
- VectorVest offers some top-level built-in trading strategies matching every level of risk. Apart from that, it also empowers you to set custom parameters and build strategies for yourself.
- The strategic trading entry and exit points feature to serve you in two different ways. It helps you preserve your investment when markets tumble and take full advantage when markets start to rebound.
- Spectacular stock ranking system
- Some of the best built-in trading strategies
- Makes technical analysis extremely easy
- Strategic trading features
- Average customer support services
- Complex for most of the traders
- Slightly expensive
- Basic – Basic plan price is $69 per month.
- Enhanced – Enhanced plan price is $99 per month.
- Premium – Premium plan price is $149 per month.
Scanz is another one of the most intuitive scanning and technical analysis platforms. The platform is astonishingly fast and lets you experience zero latency. You can get constant profitable trading opportunities in real-time with scanning superpowers. Scanz Montage covers you from all fronts and provides you with all the information you need for technical analysis. Scanz also allows you to connect with one of the 10 most popular brokers and start making trades directly from the platform.
- Provides a complete picture of the current market conditions with real-time, pre-market data, and post-market.
- Streaming charts enable you to experience unique charting features to make your analysis easier but effective.
- Scanz also allows you to track multiple tickers in one window by opening multiple tabs. Data streaming remains real-time on all tabs so that you are never out on any important information.
- Powerful Scanz scanner is another unique Scanz feature that enables you to search stocks using multiple filters and instantly start trading stocks of your choice.
- Powerful scanner
- Extremely fast with zero latency
- Actionable breakout signals
- News scanner
- Level 2 data
- Remarkably efficient user interface
- Multi-monitor compatibility
- Lacks in backtesting and paper trading
- Lack of social trading
- News – News plan subscription price is $79 per month.
- Scanner – Scanner plan subscription price is $99 per month.
- Total – Total plan subscription price is $149.
AmiBroker is a feature-rich technical analysis and trading system development tool. The platform offers remarkable charting, backtesting, and scanning capabilities. AmiBroker makes trading really easy for you. You can trade directly from charts or choose a pragmatic auto-trading. Portfolio-level backtesting & optimization are great features to fine-tune your strategies and Walk forward & Monte Carlo simulation helps you validate the robustness of your strategies. In short, AmiBroker offers all the features you need to transform your technical analysis as well as the overall ways of your trading.
- AmiBroker charts are powerful, user-friendly, and beautiful with great customization options. You can modify parameters in real-time and also use different charting styles and gradients to make your charts look beautiful.
- The intuitive platform can also automate your routine tasks. The integrated Batch processor works on your behalf while you are offline.
- Backtesting and optimization features are among the very best in the industry. You can optimize your trading strategies and develop proven and tested strategies.
- Powerful scanning, ranking, flexible user interface, multi-monitor setup, and much more give you a unique trading experience.
- Powerful portfolio-level backtesting and simulation
- Automation of routine tasks
- Customizable charts
- Powerful analytical tools for traders
- Three different software editions to choose from
- Affordable prices
- Lacks in social trading
- Average customer support services
- Standard – Standard AmiBroker edition’s price is $299.
- Professional – Professional AmiBroker edition’s price is $359.
- Ultimate Pack Pro – Ultimate Pack Pro edition’s price is $499.
Profit Source is one of the best technical analysis tools for advanced traders. The software allows traders to choose from 40 plus technical indicators to optimize their analysis. Elliot Waves analysis is another commendable feature you can get through Profit Source. If you have to test your trading system and strategies, the software gets you covered. Scanners, portfolio managers, online education, and fundamental analysis offers enable you to trade as you want. Moreover, the platform is a good option for traders of all types, especially short-term traders. However, the software is slightly expensive and therefore, suits only professional and advanced traders.
Another quality technical analysis tool for traders is Thinkorswim. It is also a feature-rich tool that offers all essential technical analysis capabilities. Its charting features are second to none. Charts are powerful as well as highly customizable. The software is also very fast and robust. Beginners can practice and learn ins and outs of trading through virtual accounts. Moreover, there are no trading requirements and account minimum. That is why Thinkorswim is one of the best technical analysis tools for beginners and advanced traders.
If you want an innovative and feature-packed technical analysis software, E*Trade is for you. The E*Trade platform offers various user-friendly tools to control your trading. It offers the best charting tools that populate your charts with technical analysis patterns and valuable information. There are advanced intraday and historical charts with several chart types as well as 30 plus drawing tools to assist you. E*Trade is the best for stocks, options, and futures trading alike. Moreover, the platform also makes your trading easy with an intuitive mobile app that gives you the freedom of trading from wherever you are.
Another professional-level software among the best technical analysis software is Optuma. It gives you access to some top-quality technical analysis tools. There are different ways to do your technical analysis with Optuma. Along with the common technical analysis, you have options like basic Gann technical analysis, advanced Gann technical analysis, and Astronomical technical analysis. The exceptional variety of chart types suits traders of all levels. You can place and manage your trades directly from charts. Custom layouts, watchlists, customizable toolbars, custom timeframes, and much more can be at your disposal through Optuma.
TradeStation’s technical analysis software offers all the tools you need to feel confident in your trading decisions. It gives you access to multiple asset classes with reliable trading systems. TradeStation also promises real-time access to data streams to make informed trading decisions. The platform also allows you to build, test, optimize, and automate trading strategies for seamless trading. Dynamic scanner, charting tools, fast trade execution, order management, and much more are top-class features you can get. That’s how TradeStation makes its place in the list of the very best technical analysis software.
Trader Guider is another great option that can help you in your technical analysis. You can capitalize on an extensive book library and YouTube library to learn what you need and wish to learn. Trader Guider also gives you access to Educational Event Archive. Moreover, the powerful Trader Guider scanner is the ultimate tool you need to search for and identify the best trading opportunities. The software also offers automated trade alerts suggesting entry points, profit targets, stop-losses, and risk/reward ratio. Wyckoff VSA Methodology is the most distinguished Trader Guider feature that helps in understanding price and volume movements. Thus, you can improve your edge by identifying the smart money moves.