The first software I’d like to introduce to you is OmniTrader. OmniTrader is a trading system that automates technical analysis helping a trader to make decisions really fast. It gives its user real trading signals with all of the supporting information automatically displayed.OmniTrader has more than 120 methods of technical analysis and really powerful model of choosing the most appropriate one to find the trend which describes securities behavior better.
OmniTrader also possesses tools that help a trader do some money management and several trade simulators.
Some other valuable features of this software:
Chart Book – user fills a chart book page with multiple charts, and flip to a new set of charts.
Drawing Tools that help to create Trend Line Alerts, to alert a trader when specific levels are crossed in the market.
Statistics in the Focus List - As OmniTrader generates buy and sell Signals on the securities in your Focus List, it produces performance statistics.
That was an official information that Nirvana Inc. presents on OmniTrader. Let’s move to opinions.
First it should be said that this software is a kind of black box. That means that you don’t know for sure what the software does at the moment. It’s OK for a beginner but it can’t satisfy a professional trader.
Another point for a beginner is an easy-to-understand interface of the software.
At the same time many professionals state that they don’t trust OmniTrader’s signals. They have observed that OmniTrader misses some trends and sometimes fades strong trends early.
Anyway you have to understand that OmniTrader is just a prospecting tool, to be used in finding potentially good trades, nothing else. Using it will help you finding setups with a 60%-70% probability of giving a good gain.
