Stockwatch Pro Review
Read Best Technical Analysis Charting Software to get an overview on what is available.
Stockwatch Pro (SWP) is a real time analytical software which allows you to perform "on-the-fly" technical analysis on multiple securities in search of those that meet your trading system's criteria. Stockwatch Pro is surprisingly not a more popular software but when it comes to delivering results, it is hard to beat.
Stockwatch Pro actually consists of a basic charting frontend and a very powerful analytical engine in the background that enables you to screen for pre-programmed criteria based on technical analysis. It currently only works with data-feeds from QCharts and eSignal but this is generally sufficient for most active traders who swing or day trade the markets. The charting system is based very closely on the QCharts system but do not look quite as slick. This is the main deficiency of Stockwatch Pro in that it's user interface is not as polished as eSignal, QCharts or even Medved Quotetracker. This however is a small point against it considering that SWP is an analytics software and it is in analytics that it performs best.
SWP's Formula Wizard is a powerful tool that allows you to build formulas using close to 100 built-in fields (e.g. Last, Bid, Ask, Volume, Float, %Change) and technical indicators (e.g. Bollinger Bands, Moving Average, RSI, etc.). You do not need any programming experience to come out with a proprietary indicator based on price and other technical indicators. Just a 5 minutes browse through their excellent tutorial resources and you will be up and running creating your own custom formulas.
The Real-Time Screener is a one-of-a-kind tool that scans markets for profitable opportunities in real-time. Using powerful features of the Formula Wizard, you can specify any kind of criterion that the screener will search for in the markets. The screener can be used to scan sectors, Hot Lists, symbol lists, exchanges, etc. It will continuously search based on given criteria at specified intervals and display only those symbols satisfying the condition. The programming of the screener is very intuitive. Lets say you want to search for stocks which have their 14 Day RSI below 30 or above 70, the code will be as such:
Stockwatch Pro is available for a free 14 day trial. You can also sign up for a free QCharts or eSignal trial from a link at their website. Once you download the application, the setup is very straight forward and you only need to supply your QCharts or eSignal login information to start using this very capable piece of software.
As with any real time analytics program which does analysis on live data "on-the-fly", you need a capable machine with lots of RAM to smoothly run this application (How much RAM do you really need?). A 2 GHz Pentium or Athlon is more than sufficient to run this baby. Your internet connection has to be DSL or Cable at the very least as the amount of data requested from the servers can be quite tremendous depending on how many securities your screener is performing analysis on. Find out more about Real-Time Trading Computer System Requirements.
Status of StockWatch Pro
Here is an update from a reader about the status of StockWatch Pro and Cron Technologies:
You asked for an update from Cron Technologies for Stockwatch Pro (SWP). I’m not from Cron, but I use SWP (I’m a developer from their early days of SWP), and thought you might like to know what happened to them. Yes, SWP was THE best tool I ever used for stock research. It could research ALL stocks (including BB and pink sheets) with lists containing unlimited number of symbols! But in late 2008, they sold out to TDAmeritrade and gradually discontinued support (and all communications) for Cron/SWP. My ability to do great, accurate, and quality research took a huge hit since nothing else could even come close to doing what SWP could. TDAmeritrade has now come out with their version of SWP called “Strategy Desk”, which is free to TDAmeritrade clients. I use to pay Cron $40/month to use SWP, which required an additional data feed from another source (QCharts/Esignal) at $125/mo, so I was paying $160/mo to get SWP. Now I can get it for FREE as an Apex client of TDAmeritrade!