Stocks & Commodities V. 23:1 (82-86): Product Review: IQ Charts by David Penn

Stocks & Commodities V. 23:1 (82-86): Product Review: IQ Charts by David Penn
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Stocks & Commodities V. 23:1 (82-86): Product Review: IQ Charts by David Penn

The world of technical analysis charting software is increasingly split between two camps. Call them the Jets and the Sharks, call them the Reds and the Blues, Athenians versus Spartans, American Leaguers versus National Leaguers Ö call them what you like, but after five years of looking at a different mousetrap each month, I feel this might be one point that can be made with certainty.

On the one hand are the Engineer Packs. These packages seem geared toward the most indicator-loving, oscillator-appreciating, backtesting, code-writing, optimizing technicians out there. If you find yourself occasionally so engrossed in systems development, for example, that you sometimes forget that, at the end of the day, all that labor was geared toward helping you place a real trade in a real market, then I donít need to tell you that the Engineer Pack is for you. Youíve probably already got three, four, or more of these systems on your PC.

On the other hand are the Artisan Packs. While mostly web-based (the system either resides on a server or is downloaded directly from the web to your PC), these platforms put a nearartistic emphasis on platform presentation, and have an equal preoccupation retrace with ease of use. So what if you donít have 50 different indicators? So what if the Gann projection capability is less than what youíd find in an Engineer Pack? So what if historical data only goes back as far as the first Bush administration? These charts are as easy on the eyes as a sunset, and the time otherwise spent trying to figure out what all those buttons, pulldown menus, and hotkeys stand for could be spent on a stroll through a Simple Garden of Charting Delights.

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