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In this post, I’ll explain why you need a trading software and why Amibroker is likely to be the best fit for your requirements. In addition, I’ll explain that for stock trading systems, one of the best data sources if you trade a diverse array of stock markets globally is Metastock End of Day data because of the exceptional value for money and broad market coverage. You can access a special offer for a month free subscription to try out the Metastock data with Amibroker. I have also included detailed Amibroker tutorial videos to demonstrate the subscription process, installation of Amibroker and the Metastock software, and how to connect them so they work together seamlessly.

 

Why Do You Need Trading Software Like Amibroker?

The 3 Levels of Trading Software

In my opinion, the most cost effective trading software which meets the needs outlined above is Amibroker.

Amibroker is cheap, has an excellent free trial, is easy to use and is FAST!Β It also ticks all of the other requirements that I discussed in the previous video.

Download your free Amibroker trial at:Β 
www.amibroker.com

Why You Should Use Metastock Data with Amibroker

Not that you have installed the trial of Amibroker, you need a data source to create your stock charts and backtest your stock trading system ideas. In the video below I explain why a Metastock EOD stock data subscription is a great data source if you trade multiple market around the world.Β 

Subscribing to Metastock End of Day Stockmarket Data

The steps below show you how to subscribe to the end of day data history from Metastock.com and adjust this data to be used with Amibroker. This process has a number of steps and is a little involved, but you only need to do this once.

Please follow the steps very carefully, ensuring you do not miss a step because otherwise your data will not work correctly and you will have trouble backtesting in Amibroker.

Step 1: Click The Link Below To Subscribe

Click the link below to subscribe to Metastock EOD Data and get one month of free access to the historical data and daily updates.

Installing-Metastock-Data-History-1-Go-to-the-link-and-it-should-look-like-this-scaled

Step 2: Select Correct Region & World Indices

Scroll to the bottom of the page and select the region(s) you want to subscribe to. Tick the correct box and ALSO tick the box to subscribe to the world indices as you will need these.

Select-Correct-Region-World-Indices

Step 3: Proceed to Checkout

Check the selected products are correct. You should have one or more regions plus the worldwide indices. Then press ‘Checkout’.

Proceed to Checkout

Step 4: Create A Metastock.com Account

Enter your name and email and press ‘Create Account’.

Create Metastock.com Account

Step 5: Complete Your Account

Enter your contact details and address to complete your account information.

Complete Your Account

Step 6: Choose Password

Enter a password for your Metastock.com account. This will allow you to login the the website and download your products later.

Choose Password

Step 7: ‘Sign’ User Agreement

Review the user agreement and accept it at the bottom of the page.

'Sign' User Agreement

Step 8: Complete Payment Details

Enter your credit card details to subscribe, tick the box to agree to billing terms and press ‘Order Now’. Note that you will not be billed for the first month – this is your free trial period.

Complete Payment Details

Step 9: Go To Downloads Area

Click ‘My Downloads’ on the next page. You will also be sent an email with this link.

Go To Downloads Area

Step 10: User Details & Installation File

In the downloads area note the Username and Password. You will enter this into the downloader once you have installed it (*** In Step 15 below). Click the link to download the installation file as shown below.

User Details & Installation File

Step 11: Run Installation File

Once the installation file has finished downloading, run the file to install The Downloader as shown in the image below.

Run Installation File

Step 12: Finish Installation of The Downloader

When the Installation is complete, click ‘Finish’

Finish Installation of The Downloader

Step 13: Find Symbol Utility Files In Metastock.com

In your Metastock.com account, click on ‘Technical Support’ on the left and then click on ‘Download Updates’

Find Symbol Utility Files In Metastock.com

Then click on ‘Metastock Symbol Utility Files’

Then click on 'Metastock Symbol Utility Files'

Step 14: Download Symbol Utility Files

Download the Symbol Utility File for any regions you subscribed to as well as the Worldwide Indices file.

Download-Symbol-Utility-Files

When you run the Symbol Utility File, use the recommended settings unless you want your data to be stored somewhere else.

Run the system

When you run each Symbol Utility File, ensure that you use the same directory so that all of your data is stored together.

Run the system 2

Step 15: Open The Metastock Downloader & Setup To Download

The Downloader is in Start >> Downloader >> Downloader

You may want to pin the Downloader to the taskbar for easier access in future.

Open the program, Click ‘Tools’ menu and select ‘Vendor Options’
Open The Downloader & Setup To Download

In the ‘Vendor Options’ box, enter the username and password that you got in Step 10 above ***. Then press ‘OK’.

In the 'Vendor Options' box

Step 16: Convert Data To Legacy Format

In The Downloader, open the Downloader Console and select ‘Convert’

Convert Data To Legacy Format

In the ‘Convert’ window, select MSLocal at the top, then browse to the directory you installed your symbol utility file into. Then select ‘Legacy’ as the destination file type. Finally press convert. Then wait until the conversion is finished.

In-the-Convert-window

When the conversion is finished, close the conversion report.

When the conversion is finished

Select ‘Yes’ when prompted whether or not to add the converted data to your downloads.

Select 'Yes' when prompted

Step 17: Adjust The Start Date To Give Full History

For each data folder you will be updating and using for backtesting you need to adjust the start date of the data to 1/1/1990 so you have sufficient history for backtesting.

In the Download window, right click on each folder in turn, click ‘Adjust for all checked’ then select ‘First date…’
Adjust The Start Date To Give Full History

Enter 1/1/1990 for the first date and press OK.

for the first date and press OK
Expand several of the folders using the arrow at the left and ensure the first date column now says 1/1/1990. To trade Australian Stocks you will need to ensure the following folder has a start date of 1/1/1990:
C:\MetaStock Local Data\Asian\Australian Securities Exchange
C:\MetaStock Local Data\Indices & Indicators\Asian Indices

Adjust the first date of these individually if necessary.

Step 18: Update Full Data History

You are now ready to download the full data history for your exchanges in the correct format to use with Amibroker.Β 

Tick the exchanges you want to update, the indices for your region and the worldwide indices and then click ‘Download…’
Update Full Data History
For System Trader Launchpad Participants, please only tick these two folders:
C:\MetaStock Local Data\Asian\Australian Securities Exchange
C:\MetaStock Local Data\Indices & Indicators\Asian Indices

Let the download run. This may take quite a while the first time you run it depending on your internet connection speed.

For System Trader Launchpad Participants

Close the collection report that appears when the download is complete.Β 

IGNORE ANY ERROR MESSAGES FOR NOW – THESE ARE TYPICALLY NOT SERIOUS.
Close the collection report

Your historical data is now stored on your computer. In the next lesson you will learn how to link Amibroker to this data so you can do your backtesting and look at price charts in Amibroker.

 

Linking Amibroker to Metastock Data
(Setting up your Amibroker Database)

In Downloader V17 you can check the data has downloaded correctly by expanding the market folder in the download tab and right clicking on one of the stocks as shown in the image below:

In-Downloader-V17

Adding Stock Market Indices to Your Amibroker Database

Amibroker Orientation – An Overview

How to Run Your First Backtest in Amibroker

Running your first backtest in Amibroker can be a little confusing, so this video takes your through how to do it step by step. If you have subscribed to The Trading System Collection this will show you how to take the trading system code you have been provided, load it into Amibroker and run the backtest to see the system performance. If you have questions about the process I explain in this video please post them in the Community Support Group on Facebook.

Next Steps – Are you ready to learn systematic stock trading?

In this post you have learned how to set up your Amibroker stock trading software and how to connect your EOD data so you can view your stock charts, run explorations and backtests.Β 

The next step is to learn how to trade systematically. If you like the idea of trading profitably by following an objective, backtested set of rules that you have absolute confidence in, click the button below to learn more about how you can launch your systematic trading career and finally take control of your stock trading performance!Β