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Proprietary Indicators
The perfect system must have tools and indicators, which are unique as this ensures that the user has more than just the run-of-the-mill indicators to use. But proprietary indicators must be researched and thoroughly tested before being included. Once a developed technique is found that works well, it can be included but the proprietary aspect of the calculation is retained because it gives users the edge over other investors in the market.
Scanning
Having the ability to scan and highlight instruments based on Technical Analysis selection criteria is essential. It is usually a combination of indicators and tools, which cause the analyst to move in or out of the instrument. Once these have been determined the user must be able to specify these in the Highlighter to search for instruments, which satisfy them, and then to draw the charts for final approval.
Upgradability
The world of Technical Analysis does not stand still, so it is vital that new ideas and techniques can be added without disturbing the smooth flow of the existing system. The perfect Technical Analysis system must allow new charts and tools to be added without affecting the way you use the system.
Real—time and End—of—Day
The perfect Technical Analysis system must be able to create charts of any time frame, from tick charts through all intraday time frames, to daily, weekly and monthly and therefore run as a real-time and/or End-of-Day system.
Full Data Service Compatibility
The perfect Technical Analysis system must be able to obtain Real-time and End-of-Day data from any data source in the world with the minimum of effort from the user.
Finally to create the perfect Technical Analysis system
It is essential to have a team of brilliant programmers, which is what we have at Updata. Being able to translate the desires and whims of the Technical Analysis team into hard code requires superior programming skills.
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