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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.
Charting Front-end
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.
Formula Wizard
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.
Real-Time Screener
 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:
RSI[RSI,14,D] < 30 | RSI[RSI,14,D] > 70
Free Trial
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.
System Requirements
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.
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