Stocks & Commodities V. 22:11 (98-100): Product Review: Updata Technical Analyst by David Penn

Stocks & Commodities V. 22:11 (98-100): Product Review: Updata Technical Analyst by David Penn
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Stocks & Commodities V. 22:11 (98-100): Product Review: Updata Technical Analyst by David Penn

Do you remember that “rushing racks” scene in The Matrix, the one where Trinity presents young Neo with a dazzling panoply of weaponry in what might be called the ultimate in window shopping?

Well, you might feel something similar when opening up a workspace in Updata Technical Analyst. While there’s no point in taking Updata TA behind the woodshed to find out whether its voluminous set of indicators, overlays, and oscillators is more extensive than that of its competitors, there is also no denying that when it comes to features that will appeal to both the artist and the scientist inside every technical analyst, Updata TA is second to none.

What can you do with Updata TA? While first and foremost an extensive technical analysis charting package, Updata TA includes features that allow for more testing and backtesting — including indicator optimization — than do many comparable packages. Often it is the case that the more indicators and oscillators and overlays a charting program has, the less robust its backtesting and optimization capabilities. I’ve thought of this syndrome as the battle between technical analyst as artist and scientist. Even though most of the best technical analysts will be a bit of both, I suspect most of us who look at charts to make investment and speculative decisions tend toward either the discretionary or systematic end of the technical spectrum. To this end, it is a boon to see both ends so well served in Updata TA.

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