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     spdfgh
Member
Username: spdfgh
Post Number: 40
Registered: 06-2004Rating: N/A
Votes: 0
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| | Tuesday, June 12, 2007 - 04:13 pm: |  
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Will IC be looking at closer price action charts at all in the near future?
I'm now looking to purchase a 'live' or 5 minute delayed charting package with indicators, having used a 20 minute delayed competitors charting package since opting out of Incredible Charts a while back.
IC's 1 hour updates are not on the money AFAIC! And I can see NO point paying for, & missing all the price action beyond at least 5 min. delayed.
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colin_twiggs
Member
Username: colin_twiggs
Post Number: 2917
Registered: 09-2002Rating: N/A
Votes: 0
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| | Tuesday, June 12, 2007 - 06:06 pm: |
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spdfgh,
Thank you for raising this. Real-time data is still some way off. Perhaps we are reading members' needs incorrectly, but the $40 per month ASX royalty is expensive when you compare to $1.20 per month for the NYSE or NASDAQ - and only needed for day trading.
Regards,
Colin
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spdfgh
Member
Username: spdfgh
Post Number: 41
Registered: 06-2004Rating: N/A
Votes: 0
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| | Tuesday, June 12, 2007 - 07:40 pm: |
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Is that $40 p/m per user? or can IC get bulk buy discounts?
Maybe IC can have a premium day traders deal? I would happily pay the extra $$$.$$
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colin_twiggs
Member
Username: colin_twiggs
Post Number: 2919
Registered: 09-2002Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 11:29 am: |
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The ASX royalty charge for real-time data is $40 per month per user. No bulk discounts available. We would have to charge about the same to cover the extra servers, support staff, data costs and ethernet connection. So your total cost would be +/- $80 per month. If there are enough users interested, I will investigate.
Regards,
Colin
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spdfgh
Member
Username: spdfgh
Post Number: 42
Registered: 06-2004Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 12:07 pm: |
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I'm only trading the ASX...
It would be excellent to see included a couple extra things that would be usefully..
*Alerts: Price & Volume triggers; maybe on the charts
*Chart indicator signals & triggers; again might be symbols on the charts or pop ups or watchlist flags etc.
*Active watchlists with signals & triggers; allowing the user to set up watchlists that have price & vol triggers etc. might be a dedicated screen like the stock filter screen or combined with the above.
**Intra day tick charts; time step adjustable (I use 20, 60min & 200 minute ATM)
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007
Member
Username: 007
Post Number: 437
Registered: 05-2005Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 12:59 pm: |
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Colin, all sounds like a good idea except that there's other packages around that provide the same as what spdfgh is looking for but at a fraction of the +/-$960 per year.
I'm using one such package that only costs US$60 per annum (it's free if you don't mind the adds getting in the way and taking up screen space) with the option to use snapshot data from a listed broker source which updates watchlists, historical and intra-day charts at a minimum of 5-second intervals, or the user has the option to subscribe, separate to the initial subscription, to a listed real-time data provider.
Other data vendors provide intraday snapshot data in metastock format (compatible with most well known charting packages) for less than $500 per year.
Again, it sounds like an idea but there are many packages that can do the same for much less the cost. In the end, if it doesnt work, no one else wears the loss.
Regards
http://www.youtube.com/watch?v=dw7orGUz8TU
http://www.youtube.com/watch?v=6XDvqxL2Nrc
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colin_twiggs
Member
Username: colin_twiggs
Post Number: 2922
Registered: 09-2002Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 01:20 pm: |
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Thanks spdfgh,
All these items are on our "short" list, with the exception of Chart Indicator Signals & Triggers. We will survey members after the new beta version is released - to help us establish development priorities.
Regards,
Colin
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colin_twiggs
Member
Username: colin_twiggs
Post Number: 2923
Registered: 09-2002Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 01:43 pm: |
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007,
Does the first package that you refer to include the ASX? If we link to a feed from a broker, that means that the broker will pay the ASX royalty - which he will only do for his own clients - and only if they are paying him many times that amount in brokerage fees.
Snapshot data may be subject to lower royalties, depending on their frequency. Are they 1 minute, 5 minute, 15 minute or 1 hour snapshots? And are they real-time or delayed by 20 minutes (to avoid royalties)?
Regards,
Colin
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007
Member
Username: 007
Post Number: 439
Registered: 05-2005Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 04:07 pm: |
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Colin,
Yes there’s a list of Australian brokers that you can connect to via the package. What happens is all historical data, excluding the current day, is backfilled using data from a default site while the current day’s price bar is drawn on the chart using L2 data provided by your broker and is automatically updated in intervals from 5 to 10 seconds and upward depending, of course, on the speed of the internet connection and number of charts being updated. If IC can do something similar it’s certainly one way of passing the fee onto our brokers.
With regard to your second lot of questions I’ve just revisited the ASX data providers site (as well as three others) and stand corrected. While surfing the net some time ago I came across the site, and while quickly reading through what they had to offer misread “20-minute (hourly) delayed data” for “20-minute snapshot data”. I only just realized! Being a dedicated IC user without the need to go in search for another data provider can you blame me for not reading what they had to offer with deep intent? The other three vendors were the same, providing hourly snapshots delayed by 20-minutes. My apologies for misleading you.
Regards
http://www.youtube.com/watch?v=dw7orGUz8TU
http://www.youtube.com/watch?v=6XDvqxL2Nrc
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colin_twiggs
Member
Username: colin_twiggs
Post Number: 2924
Registered: 09-2002Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 06:26 pm: |
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Thanks 007,
We will consider this. The biggest problem is that data from brokers is raw data and not suitable for charting. Stock splits, consolidations, reconstructions, dilutions, capital returns, merges - all distort data history and cause false trading signals.
Regards, Colin
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spdfgh
Member
Username: spdfgh
Post Number: 43
Registered: 06-2004Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 06:39 pm: |
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Would raw data matter for intraday charts? could the data be switched over to end of day sorted data on close, or maybe the Intra day module could be closed at EOD.
(Message edited by spdfgh on June 13, 2007)
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fibonacci
Member
Username: fibonacci
Post Number: 191
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 07:24 pm: |
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Colin,
From a personal perspective I like the [apparent] philosophy of IC which appears to me to provide Incredible VALUE. This is most important to me.
Not only that, I think it is user friendly and logical.
Your stated development schedule is also pleasing to see, even if time of implementation often proves to be tantalizingly optimistic.
I, too, look forward to improvements/changes to indicators, such as my previously suggested concept of completing suites of indicators, as well as adjustments to stock screens and UK data but not a wholesale change to IC that affects its original philosophy and thus cost to users.
Can't wait for fibonacci tools, obviously!
Keep up the good work. Thank you.
John
You've got to
know when to hold 'em
know when to fold 'em.
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007
Member
Username: 007
Post Number: 440
Registered: 05-2005Rating: N/A
Votes: 0
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| | Wednesday, June 13, 2007 - 08:05 pm: |
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No problem Colin, just another of my fantastic ideas… as usual  . As long as you don’t think I’m pushing for some huge IC update. I’m very happy with IC the way it is and can wait for the pitchforks.
Regards
http://www.youtube.com/watch?v=dw7orGUz8TU
http://www.youtube.com/watch?v=6XDvqxL2Nrc
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