Stocks & Commodities V. 31:3 (46-51): Product review: Updata (Part 2) by Dennis Peterson
Product Description
Product review: Updata (Part 2) by Dennis Peterson
UPDATA
77 Water Street, 8th floor
New York, NY 10005
Phone: 646 400-5893
Email: sales@updataTA.com
Internet: http://www.updatata.com, http://www.updata.co.uk
Product: Technical analysis platform
Requirements: Windows XP/Vista/7 or 8 (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
In part 1 of this two-part series, I covered the basics of Updata. This time, I will cover features, some of which are difficult to find anywhere else. As in the first part of the review, all chart data was provided through an eSignal datafeed, although Updata is compatible with more than 20 different datafeeds, including Thomson Reuters.
Charting
A poorly understood area by many analysts/traders is point & figure (P&F) charting. P&F ignores time and is only concerned about price movement. Typically, it takes the form of columns of Xs and Os. Each X or O is called a box. A box represents a price change. How much change is up to the user, but the important aspect of box size is that any price movement less than the box size does not create a new box. If you had a box size of $1.00 and prices were at $100 and went to $100.99, it would not create a new box. If prices went to $101, you would have an additional box, and in this case it would be an X, not an O, since prices went up.
UPDATA
77 Water Street, 8th floor
New York, NY 10005
Phone: 646 400-5893
Email: sales@updataTA.com
Internet: http://www.updatata.com, http://www.updata.co.uk
Product: Technical analysis platform
Requirements: Windows XP/Vista/7 or 8 (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
In part 1 of this two-part series, I covered the basics of Updata. This time, I will cover features, some of which are difficult to find anywhere else. As in the first part of the review, all chart data was provided through an eSignal datafeed, although Updata is compatible with more than 20 different datafeeds, including Thomson Reuters.
Charting
A poorly understood area by many analysts/traders is point & figure (P&F) charting. P&F ignores time and is only concerned about price movement. Typically, it takes the form of columns of Xs and Os. Each X or O is called a box. A box represents a price change. How much change is up to the user, but the important aspect of box size is that any price movement less than the box size does not create a new box. If you had a box size of $1.00 and prices were at $100 and went to $100.99, it would not create a new box. If prices went to $101, you would have an additional box, and in this case it would be an X, not an O, since prices went up.
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