Product review: MetaStock XIII by S&C Staff
4548 Atherton Drive, Suite 200
Salt Lake City, UT 84123
Phone: sales 800 508-9180;
technical support 801 265-9998
Product: Trading platform
System requirements: Windows 7 or 8;
4GB RAM minimum, 8 GB RAM recommended;
1.6 GB disk space;
high-speed Internet connection
Price: $100/month, $960/year, or $1,395 for a permanent copy
MetaStock Pro XIII (also referred to as MSPro13-Forecaster) is the latest version of a full-featured product that has been delivering out-standing analysis capabilities for more than 30 years. The software is installed on your computer and is designed to support real-time intraday or end-of-day (EOD) trading. It uses the MetaStock XENITH datafeed, which provides quotes and robust access to news. The big change from MetaStock version 12 is the addition of a feature called the Forecaster.
The idea of the Forecaster is to assess the predictive ability of various indicators. There are 67 choices. Some of the indicators are used in multiple ways, so the number of unique indicators is approximately 26. There are several hurdles Forecaster had to get over to accomplish this task.
The first hurdle is best explained by what the Forecaster is not. It is not a means to find the best trading system. When you look in the Forecaster library to get a detailed explanation of how an indicator is used, it may sound like a trade entry setup. That is true to some extent, but the reason MetaStock chose to use the word event is that an event simply means that the description in the library has become true on a particular day, and at the moment, only daily calculations are made.