Ask Colin

What software package is strong in technical analysis, especially candlesticks and point & figure?

I suggest that you also evaluate Insight Trader (www.insighttrading.com.au). It has exceptionally strong filtering functions in its Systems module. I use it, for example, to scan for new 52 week highs and lows, advance and decline data and, using the fundamental data supplied with Data Base Manager, I scan for stocks that are undervalued on fundamentals. You can also scan by sector or sub-sector and by all sorts of technical analysis functions.

Its candlestick charting is good and it allows you to not only draw trend lines, but also parallel trend channel lines, which you may find useful.

Most importantly, it draws one box reversal point and figure charts in the correct manner with at least two plots in each column, unlike MetaStock, Supercharts and some others, which perpetuate an error in the original CompuTrac software, which they corrected back in the 1980s. Because it draws the one box reversal charts correctly in this way, it gives you accurate trendlines and price projections. If you wish to use point and figure, I do not think there is a better software package.

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