Benefits of using Technical Analysis Software

Can someone Tell me the benefits of using technical analysis softwares such as Amitrader, NinjaTrader, Metatrader, Metastock etc?

Let me put it this way. If you buy a new knife you can either use to cut vegetables or stab your boss. Tools don’t guarantee profits, it’s the skill set you have which guarantees success.

If you know how to use these tools, then yeah they can give you an edge in trading. You can code your strategies, back test them etc .


Start trading in small quantities everyday and get the feel of it. Try to figure out how price movement works, see if you can start noticing things which you are not able to see right now. Eventually, you can use technical analysis softwares to give you an edge to execute your trades more efficiently.