AmiBroker Vs TradingView: Detailed Comparison of Technical Analysis Software

Professional trading has become truly global in the twenty-first century. No matter which market you trade on, traders use standard tools like Technical Analysis Software and buy and sell signal software. AmiBroker and TradingView are some of the most frequently asked tools by professional traders.

Stock traders know their way around trading software, and they tend to be quite opinionated about it. If you are reading this article, you must know that technical analysis software could make or break your trading business.

It’s not only the question of whether you use the right or wrong software, but also how well you can make use of it. The better your tools are suited to handle trading signals, the easier your road to profits will be.

This article aims to give an in-depth comparison of two very different technical analysis software: AmiBroker vs TradingView. We will compare TradingView and AmiBroker software head-to-head based on their interface, usability, customization, features, pricing, and much more.

Is it Worth Paying for AmiBroker?

AmiBroker is unquestionably the best technical analysis software for customization and usability. It ensures faster portfolio optimization and backtesting functions along with features like rotational trading and advanced position sizing. AmiBroker comes with a rich set of indicators and charting systems.

Overall, Amibroker allows traders to minimize risk and maximize profit. It also offers a 30-day premium trial so that investors can check if it’s good enough for them.

AmiBroker

3.9

Starting Price

₹ 299.00 excl. GST

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Amibroker is Best For

Amibroker TA software is beneficial when it comes to performing the following:

• Custom Backtesting: AmiBroker allows you to start from scratch and create your fully customized back-test. For example, if you want to test the performance of a trading system with 100-tick charts as opposed to 5-minute charts, AmiBroker is for you.

• Automating Repetitive Analysis Procedure: It allows you to run macros and custom scripts to automate the analysis procedure. This is especially useful for updating quotes and other repetitive tasks like creating multiple charts.

• Batch Process Multiple Stock Analysis: Traders can run the same analysis on 100 stocks in just one go. It allows traders to capture opportunities from thousands of different stocks.

• Running Custom-Written Trading Formula: AFL (Amibroker formula language) allows traders to write their trading software for various applications.

• Scoring and Ranking of Stocks: Traders can rank the stocks based on numerous criteria like Trend strength, Tweets, API responses, etc.

Suggested Read: Top AmiBroker AFL for Successful Trading

Pros of Amibroker

Here are a few reasons why you should choose Amibroker as your technical analysis and charting software.

• 30 days free premium trial
• Offline working capabilities
• Extremely quick and blazing fast
• User-friendly interface with easy-to-use tools
• Very rich set of technical indicators/oscillators
• Highly customizable

Cons of AmiBroker

Although AmiBroker is a comprehensive software, it has a few limitations. Here are a few points you should consider before buying AmiBroker.

• It can’t be used through the web
• No inbuilt data feed
• Free version not available
• Only lifetime subscription available

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Is it Worth Paying for TradingView?

TradingView is another robust technical analysis and charting software for professional traders. Its technical indicators along with easy-to-use charting tools make it a preferable technical analysis software.

Besides equities, TradingView has expanded its wings in Forex, Crypto, and commodity trading. Traders can use TradingView for multi-frame analysis from any browser or even tablet.

TradingView

4.7

Starting Price

₹ 1295.00 excl. GST

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TradingView is Best For

Here are a few distinguishing features of TradingView:

• Comprehensive Financial Analysis: TradingView consolidates all the financial instruments on a single platform. It provides integrated financial analysis tools for all major markets, including equities, commodities, currency pairs, and indices.

• Provide Alerts for Buy, Sell, Script Alerts: It has an alert feature that allows you to see the level of performance against different strategies. It gives buy-sell alerts based on scenario analysis.

• Multi-time frame analysis of all stocks: Traders can check charts of the same currency pair on different time frames right from minute to month.

• Crypto, Commodity, and Forex Trading: TradingView has added crypto and commodity trading support. It also caters to the currency market, making it an all-in-one TA software for investors.

• Large Knowledge Base for HVI: There are thousands of articles, guides, videos, and tutorials for high-value investors.

Suggested Read: 12 Most Accurate Intraday Trading Indicators for Option Trading

Pros of TradingView TA Software

Here are a few advantages of AmiBroker vs TradingView:

• More than 12 charts and allows 8 charts per tab
• Inbuilt data feed
• Visually appealing, graphical user interface
• Both cloud and on-premises deployment
• Tablet app available
• Prebuilt and ready-to-use charting systems
• Easy trading signal and portfolio comparison

Cons of TradingView

Here are some of the limitations of TradingView

• Customer service is slow
• Screening capabilities could have been better.

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How Is AmiBroker Different from TradingView?

Both AmiBroker and TradingView are top-notch technical analysis software. They allow you to analyze indicators, trend lines, channels, Fibonacci Retracement Levels, etc.

However, these have differences in terms of deployment, functionality, pricing, etc. Here are the differences between AmiBroking and TradingView:

• Deployment: TradingView is a cloud-based software that can be accessed from any device even smartphones. On the other hand, AmiBroker needs to be installed on Windows or MAC devices.

• Alert Functionality: AmiBroker has in-built alert system-specific events like your pre-defined strategy, script, stock selection, etc. However, TradingView needs to be paired with other alert services.

• Data Feed: AmiBroker could be integrated with the Ami Feeder Data plugin for data-feed. On the other hand, TradingView comes with an inbuilt data feeder.

• Technical Support: AmiBroker provides a greater level of support, which is fast, reliable and efficient. On the other hand, TradingView offers technical support, but it takes a considerable amount of time to resolve issues.

• Pricing: TradingView allows users a monthly subscription for its services starting from 1116/ month for its Pro Plan. AmiBroker only offers a lifetime plan for all its users, starting at ₹22,330.

• Charting Tools: AmiBroker offers comprehensive charting tools with customization options. However, TradingView provides more intuitive charts along with quick analysis.

• Verticals: Amibroker is majorly used for trading equities, options, derivatives, and futures. TradingView also targets the FOREX and cryptocurrency verticals for traders.

• Programming Language: Amibroker understands AmiBroker Formula Language (AFL) for custom scripting and formulas. TradingView uses Pine Script for writing custom trading formulas.

Suggested Read: Top Backtesting Software for NSE Stocks & Options in India

Difference Between AmiBroker and TradingView: AmiBroker vs TradingView

Here is a tabular comparison between TradingView and AmiBroker in a detailed manner based on parameters like data feed, markets, deployment, trial period, custom backtesting, and more. Let’s check them out below:

AmiBroker vs TradingView Difference	AmiBroker	TradingView
Deployment	On-Premises	Cloud and On-Premises
Programming Language	AmiBroker Formula Language (AFL)	Pine Script
Markets	Equity, Options, and Futures	Equity, FOREX, Commodity, and Cryptocurrency
DataFeed	Should be Integrated	Inbuilt
Custom Backtesting	Allows	Doesn’t Allows
Trial Period	30-days	30 Days
Free Version	Not Available	Lifetime Free Version
Pricing	Starts at $299 for Lifetime	Starts at ₹ 995/month

Which Trading Software to Use: AmiBroker or TradingView

AmiBroker vs TradingView, both are extremely useful for professional traders. Both these software tools have their distinguishing features, merits, and demerits. Every investor should cautiously choose stock analysis software based on their needs and preferences.

If you are an established professional and want functions like backtesting, automated data analysis, batch processing, scoring, and ranking, you must choose AmiBroker for your trading needs.

Besides, it also offers a greater degree of customizations and macros for quick and powerful charting and analysis. However, if you are a part-time investor and need more agility, it would be wise to look for an alternative to AmiBroker.

TradingView, on the other hand, is a more agile charting and technical analysis solution. Any stock trader who needs to access the software remotely from their system or even a smart device must choose TradingView.

Besides, TradingView provides a vast knowledge base for traders who want to keep learning. For investors who want to go beyond equity and trade on currency commodities or cryptocurrency, TradingView is the perfect choice.

Suggested Read: How to Avoid Common Mistakes in Stock Trading as a New Investor

Which is Better? AmiBroker or TradingView

Technical analysis software for traders is like an axe for woodcutters. With the right tools, traders can make data-driven decisions and maximize profit while reducing risk. Both these software solutions have their distinct features and benefits. Traders can choose any of these software based on their preferences.

However, if you are an experienced trader requiring powerful automation, backtesting, and advanced analysis tools with a single-time purchase, then AmiBroker is a solution. On the other hand, if you are new to the trading world, and don’t need advanced features, then you can opt for TradingView.

Carefully analyze all the differences between AmiBroker and TradingView listed above to make the right choice. However, if you still can’t decide between AmiBroker vs TradingView, the best thing to do will be to take a 30-day trial of both and then choose one based on personal experience. It is worth it.

AmiBroker Vs TradingView: FAQs