Product review: Updata by Dennis Peterson
Hutchison House, 5 Hester Road, London SW11 4AN
Phone: 212 763-8535/+44(0)207 199-4747
Product: Technical analysis platform
Requirements: Windows XP, Vista, 7
(32 or 64 bit); dual core processor+; 4GB
RAM+; 2GB hard disk space.
Price: Updata Pro $395/month (minimum
one year); Updata Trader Pro
$499/year; Updata Analytics (requires
Bloomberg feed): $100/month
Updata, a UK-based company,
has a wide range of analysis
features. The platform can be
installed on your desktop or laptop and
works equally well with Windows 7 or
XP operating systems. You can have
multiple installations, but only one can
be active, and you will need to disable
security, which is accomplished with a
couple of clicks on your current installation
before moving to the next one.
Updata is compatible with several data
sources, including eSignal and Thomson
Reuters as well as Bloomberg and its own
Updata datafeed. Updata comes in three
varieties: Pro, Trader Pro, and Analytics.
The big plus with Pro versus Trader
Pro is that Pro has free programming of
indicators and/or trading systems.
In addition, the staff at Updata is proficient at converting MetaStock formula
language or TradeStation EasyLanguage
to the C++ like language used by Updata.
For easy coding tasks, they will provide
24-hour turnaround (they use their UK
staff for coding tasks).
To give you an idea of how extensive
this software is, consider there are 457
prebuilt custom indicators in addition to
several dozen standard indicators, and 229
prebuilt trading strategies. Plus, they have
one of the best point & figure interfaces.
Not only that, Jeremy DuPlessis, author
of the book The Definitive Guide To Point
And Figure, is a member of the Updata
staff and also the author of their 700-some
page user manual.
Installation is straightforward. You’ll
be prompted during installation to identify
your data sources, and in the case
of Trader Pro you’ll be given the option
to identify Yahoo and/or Google (which