Over the years, traders and investors have started using trading software for trading purposes. This software is also used for analysing products like stocks, futures, currencies and options. Aside from analysing how to invest profitably, the software also helps manage order placement, do technical analysis, perform automated trading and pursue fundamental analysis. Overall, the software provides informational resources, trading capabilities and analysis for financial products.
What is Trading Software & Why You Should Consider It
Trading software offers both investors and traders the advantage of superior trading capabilities as well as automated trading systems. This software provide such capabilities as technical analysis indicators, chatroom, proprietary tools and data/charts.
Technical analysis software has also given an opportunity to traders and investors to learn in greater detail the tricks of trades and investments. Besides these, you can also use other relevant features offered by the software- programmatic trading and paper trading. Programmatic trading helps in automating systems related to trade activities whereas paper trading ensures a risk-free transaction without the use of any real money.
How Technical Analysis Software for Indian Stock Market Works
Technical analysis software for intraday trading works with several key features enabled that help investors and traders make diligent investment decisions.
- Scanning tools
Investors and traders can research about stock markets and their ups and downs through this tool.
- Customisable Charts
Such charts help one forecast stock patterns based on current as well as past data.
- Up-to-Date News
To keep you updated, stock trading software brings the latest stock market news from relevant news sources.
You can also go through research papers and reports developed by third parties on general and stock market.
- Monitor Data
The constant availability of data such as a company's worth, stock prices, quarterly reports, etc., lets traders and investors make informed decisions about their investment/trading choices.
List of 16 Best Technical Analysis Software for Indian Stock Market
- MetaTrader 4 Software
- ECG Trade
- Investar Stock Trading Software
- Spider Stock Trading Software
- Sharekhan Trade Tiger
- Trader Guide
- AmiBroker India
- Profit Source Platform
- Algo Trader
- Angel Broking
- Trade V
Let’s explore these stock market software and trading solutions in detail with their USPs and key features.
|MetaTrader4 software||Best for forex trading and technical analysis|
|MotiveWave||Best broker neutral software|
|ECG trade||Best for data visualization through charts|
|Investar Stock Trading Software||Best for day trading and NSE stocks|
|eSignal||Best for day trading|
|Spider stock trading software||Best for end of day technical analysis|
|ShareKhan trade tiger||Best for obtaining swing signals for equities etc.|
|Trader Guide||Best for intraday trading strategies|
|NinjaTrader||Best for managing expirations|
|AmiBroker India||Best for portfolio backtesting|
|VectorVest||Best for stock portfolio management|
|Profit Source Platform||Best for short term traders|
|Algo Trader||Best for quantitative research|
|WinTrader||Best for commodity, currency and stock market segments|
|Angel Broking||Best for trading on NSE, BSE, MCX, etc.|
|TradeV||Best for trading signals for indices|
The Best Stock Trading Software for Technical Analysis & Buy Sell Signals
MetaTrader 4 Software
USP: Best for Forex Trading & Technical Analysis
MetaTrader4 is one of the best Forex trading software used by traders for analysis of financial markets. The ample number of features incorporated within this auto trading software helps traders belonging to varied skills levels.
As a trader, you can make use of this automated trading software's flexible trading, algorithmic trading and advanced technical analysis. Aside from these, Mobile trading and trading signals are other tools used by traders for analyzing both financial markets and Forex trades.
You can also undertake technical analysis of currency pairs in Forex market. The software allows trading of all currency pairs such as Major, Minor Exotic, Metals, Index, Stock and Commodity.
Key features of MetaTrader4:
- Full featured trading system
The fully featured trading system of the software has two execution modes and four order types.
- Meta Trader market
This feature enables a user to buy indicators and trading robots.
- Algorithmic trading
You can develop, test and apply expert advisory and technical indicators.
- Analytical tools
Around thirty built-in indicators with two thousand free custom indicators and around seven hundred paid ones allow a trader to analyse markets at differing levels of complexity.
- Trading signals
Trading signals allow one to copy deals of other traders.
- Automatic alerts
As a trader, you can now keep yourself updated about the latest developments with the help of MT4 software's SMS and push notification services.
- Mobile Trading
The mobile version of MetaTrader4 is available for both Android & iPhone to help traders stay updated with the latest financial market trends.
MetaTrader4 Technical Analysis Software Price India: The demo version is available for free download whereas the Pro and Standard versions are payable in nature.
USP: The latest version 6.1.11 is data feed & broker neutral
MotiveWave is a trading platform meant for making marketing research and analysis process quick and easy for individual traders. The professional trading platform also has advanced tools for analysis such as Elliott Wave, Fibonacci, Gartley, Gann and Ratio Analysis. You can make use of the software's other core features that include scanners, strategy trading, backtesting, optimization, replay mode, walk-forward testing, reporting, and trade simulation.
Key features of MotiveWave:
- Strategy trading
MotiveWave has around two hundred and fifty built-in studies/strategies, strategy backtesting, strategy optimisation, walk forward testing, replay mode, backtesting reporting, and a Java SDK for creating custom strategies.
- Native Multiple Monitor Support
Use the ‘Tile Windows’ feature to display several graphs/charts on multiple screens simultaneously.
- Chart-Based Order Entry
As a trader, you can place, change, cancel orders and visualize positions directly from a chart.
MotiveWave Technical Analysis Software India Price: The software is priced at ₹ 7028 per month.
USP: One of the best stock trading software with an easy chart guide.
Trade is one of the best technical charting platforms, which helps visualize historical data through charts. You can visualize striking trends and patterns to lower your trading risks. Through different charts like line chart and open high low close chart, you can track the price trends and identify price patterns. This technical analysis software for stock market provides indicator signals, which even the beginners can understand well and know when to buy and when to sell.
- Provides real-time data about the stock exchange
- Helps manage equity for both cash and shares market
- Also helps with stock future options along with Nifty call & put
- Data update frequency is one-second and starts reflecting in the one-minute format
- Provides currency and commodity backfill
- Tick by tick procedure to provide faster real-time date.
ECG Trade Pricing: ECG Trade software for intraday trading comes at ₹ 12000 for one user. Other ECG Trade pricing plans available with Techjockey are:
- Equity – ₹ 1200 per month
- Currency – ₹ 1200 per month
- NSE F&O – ₹ 1200 per month
USP: Ideal for day trading and swing trading NSE stocks
Investar stock market software is for managing portfolios and analysis Indian stock markets (NSE, BSE, NSE F&O, MCX and NCDEX). The software also provides auto-divergence and mutual funds scans. You can also make use of this stock trading software’s multi-time frame query options.
Additionally, you can trade with leading online brokers through Investar. Easily import transactions from broker Trade Book or Contract Note. View easily your exact portfolio position on any date in the past.
Key features of Investar:
This feature scans stocks with high risk/reward ratio, resistance breakouts and supply/demand zone breakouts. The software also identifies targets on any stock.
- Auto-Trendlines for trend analysis
Through this feature, you can identify trend reversals with trendline breakouts. Trendlines get automatically plotted on the chart for identifying trends.
- Fundamental and Technical analysis
Make use of fundamental and technical analysis for perfecting your buying/selling time.
- Technical indicators
Investar provides technical indicators for analysing futures, stocks and options.
Pricing: Yearly subscription for Investar can be bought for ₹10,950. There are around seven versions of the software available based on individual requirements and devices used (mobile, tablet, etc.).
USP: A reliable charting software for day trading
eSignal provides technical and charting analysis tool for efficient trade execution processes. The software offers backtesting and scanning instruments to identify the effectiveness of trading strategies before investing any money. VIRATECH Software is the authorized representative for e-Signal software in India.
Real-time data service of the software provides access to data from different global markets to set strategy and implement best trade practices. With the help of this intraday trading software, you can gather intraday market data for trading decisions. You can use customizable and flexible charting tools for gathering the data with this intraday trading software.
Key features of eSignal:
- Trade Alerts
With the help of available filters and alerts, the software makes it possible to display trading alerts by market experts.
- Customizable Workspace
Use shortcut keys; attach/detach pages to create customisable workspace.
- Trade Integration
Trading/Order Management System connects directly with over fifty plus brokers.
- Free Education
Make use of advanced technical analysis course for learning about markets. This is especially designed for investors planning to improve their trading techniques.
- Market Screener Plus
You can find out about new trading opportunities without going through the hassle of searching from over thousands of individual stocks.
eSignal Technical Analysis Software Cost: The software is available at a price of ₹25,707 per month.
Spider Stock Market Software
USP: One of the best real-time and end of day (EOD) technical analysis software
Spider software is one of the leading solutions for technical analysis of stock market trends. It helps with stock market charting and provides all necessary tools for portfolio management to trade profitably in the Indian stock market. It has over 150 built-in indicators and real-time data on tick-by-tick basis. Stock market traders of India can analyse every stock movement and provide precise data predictions.
Key features of Spider Stock Market Software
- Live NSE Data
It provides live NSE data for real-time analysis of futures and F&O scripts.
- Tracking Equity Market
It helps with live tracking of the equity market with the help of Neat Feed.
- Advanced Charting
Spider software provides advanced tools to manage multiple exchanges.
- Tracking Currency Market
It helps with automatic tracking and analysis of the latest movements in the currency market.
- Post-Market NSE
This stock trading software provides end of the day data along with post-market NSE, back testing, etc.
Price of Spider Stock Market Technical Analysis Software: The price of Spider Stock market software is available on request.
Sharekhan Trade Tiger
USP: Provides swing trading signals for equities, indices, etc.
Trade Tiger is an online trading platform for accessing information from multiple exchanges such as NSE and BSE. It is one of the best share trading software offering such advanced features as twenty-four hours market news, international market watch and access to trading calls.
The software provides information for not just NSE and BSE but also MCX, NCDEX, mutual funds and IPOs. You can also make use of graph studies that cover average, Band-Bollinger, RSI, MACD and Know Sure Thing. There is also available user defined alert setting for input stock price trigger.
Key features of Trade Tiger:
- Pattern Finder
Receive automatic alerts based on chart patterns along with details of technical events.
- Trade in BSE & NSE
Spot, buy and sell an opportunity in BSE quickly and with ease.
- Advanced charting features
Create charts using mathematical tools for outlining trading rules.
- Live streaming quotes
Stock quotes change as and when there is change in exchange. You can live stream these changes anytime, anywhere.
- Market tools
There are available also various tools such as Tick Query, Ticker, Market Summary, Action Watch and Span Calculator for gauging market trends.
- News & Research
It provides real-time news & recommendations based on the research by Sharekhan experts.
- Technical Indicators
Helps discover any new financial market trends.
Trade Tiger Software Price: Information related to the software’s pricing structure is available on request.
USP: Helps with the best intraday trading strategies
Trader Guide is a stock trading analysis software India, which provides accurate intraday signals. It also offers trusted signals for buying and selling and is ideal for both, Bullish and Bearish market in India.
Features of Trade Guide
- Drawing Tools
Allows create and save drawings with resistance, support, horizontal lines and more.
- Automatic Buy/Sell
It generates buy sell signals for positional traders and intraday traders.
- Future & Option Reports
You can also track the performance of buy sell signals with Trade Guide software.
Trade Guide Pricing: The price is available on request at the official website.
Best mobile trading platform in india for Beginners
USP: Helps active traders quickly manage expirations
NinjaTrader technical analysis software helps with advanced trade management by predefining entry and exit points. Thus, you can have profitable trading with minimum stress. It further eliminates emotions from trading decisions and helps save time on analysing market trends and creating trading strategies.
Features of NinjaTrader
You can discover new trading opportunities with analytic reports and charts.
The software helps with simulation and backtesting to test trading opportunities.
You can either automate or perform trading tasks manually.
Developers can build their own drawing tools and indicators.
NinjaTrader Software Price: The price of NinjaBroker is customized for futures and forex and is available on the official website.
USP: One of the best portfolio backtesting software
AmiBroker technical analysis software provides powerful and easy-to-use charts and ensures quick portfolio backtesting. With custom backtesters, scoring and ranking features, it ensures effective optimization. You can also use this software for automating routine tasks with its batch processor.
Features of AmiBroker India
- Scoring & Ranking
It provides bar-by-bar ranking to help users find a profitable option for trading.
- Walk-Forward Testing
The software checks Out-Of-Sample performance to check the sturdiness of your system.
- Monte Carlo Simulation
Provides worst-case scenarios to make users ready for adverse market situations.
- The Analysis Window
This window includes everything, including optimizations, backtesting and explorations with Monte Carlo Simulation.
- Market Screening
It provides symbolic data in tabular format for multi-purpose screening.
Pricing: AmiBroker is available at Rs 37,032 with two years of free upgrades.
USP: Ideal for independent investors for stock portfolio management
Get the best results of stock analysis with VectorVest technical analysis software. It also provides time-tested strategies along with the most viable stock recommendations. The mobile app version of VectorVest allows you to analyse any stock in real-time from anywhere.
Features of VectorVest
- Market Guidance
This will make your trading entry and exit points more accurate.
- Complete Investing
It helps devise robust investing strategies for trading in the Indian stock market.
- Forced Rankings
With forced rankings, you will get the best investment opportunities quickly.
- Fundamental Analysis
Fundamental analysis along with market trend analysis ensures the best results.
VectorVest Technical Analysis Software Pricing: Price is available on request at the official website.
Profit Source Platform
USP: Preferred by short terms traders to manage entry and exits
Profit Source Platform helps stock traders with over 40 indicators to track specific stocks and find out the best entry and exit points. This technical analysis software India relies on mathematical indicators to analyse the trend, momentum and market resistance.
Features of Profit Source Platform
- Elliott Wave Forecasts
It helps with the accurate projection of time and price.
- Technical Indicators
You will get different indicators to help you come up with a winning formula
- Elliott Wave Trading Signals
You can figure out low risk entry points with high probability
- Precomputed Scans
As soon as you log in, your dashboard will start reflecting new trading opportunities in the market.
Profit Source Trading Analysis Software Price: The price is available on request at the official website of Profit Source.
The Best Buy Sell Signal Software for Indian Stock Market
Some of the best buy sell software online for stock trading in India, along with their features and pricing:
USP: An algorithmic trading software for conducting quantitative research
AlgoTrader is an algorithmic trading software for quantitative hedge funds. This trading software provides for automated trading of bitcoin and other cryptocurrencies. It is also one of the best trading software for automation of quantitative strategies related to trading in derivative, Forex and equity markets.
Best of all, any sort of strategy required for quantitative trading can be easily automated with the help of AlgoTrader.
Key features of AlgoTrader:
- Broker and Market Data Adapters
The software offers a range of broker and market data adapters. Additional adapters can be added without much hassle.
- Order Management and Execution
AlgoTrader provides flexible order management mechanisms to let you execute any order in market with a wide range of order types and execution algorithms available.
- Markets and Instruments
This trading software supports multiple markets and instruments to create and implement a range of trading strategies.
- Automated Cryptocurrency Trading
AlgoTrader supports automated cryptocurrency trading. It has direct exchange adapters for Bitfinex, Bitstamp, etc. It also provides historical data adapters to CoinAPI and CoinMarketCap.
- User interface and reports
There are multiple custom management and reporting features that you can adapt based on your trading activities.
Pricing: A yearly subscription of the license is available for the software.
USP: Suited for commodity, currency and stock market segments
WinTrader is buy/sell signal software with an advanced algorithmic coding style in-built within its system. The software’s most important characteristic feature is real time buy sell signals alerts option. As a user, you can send emails every time a signal is received. You can also use the automatic scanner for picking currency pairs, commodities and trending stocks.
The advanced scanner provides re-entry suggestion, which is useful for identifying the most trending scrips and earn good profits in the process. You can also make use of this automated trading software’s double confirmation system for generating more accurate buy/sell signals.
Key features of WinTrader:
- Buy/sell Signals
Through WinTrader trading software, you can buy/sell signals from MCX, Forex, NSE (Futures & Stocks) and Comex.
- Technical analysis
The trading indicators within the software provide technical analysis for all markets within one single platform.
- Active buy/sell entry area detection
The auto trading software indicates whether the buy/sell signal so generated is good for trade or not.
- Four level filtering system
The advanced filtering system feature provides accurate signal services.
Pricing of WinTrader Buy Sell Software: The automated trading software is available in three different packs. Full pack version is available for ₹20,000.
USP: Member of NSE, BSE, MCX and CDSL
Angel broking trading software is for handling trade activities. A single login and you can depend upon the software’s ability to manage investment accounts with simplicity and ease. Make use of interactive charts to better understand the market. You can also track the latest investment trends for carrying out further market research.
The live news feature and calculator option is instrumental for analysing profit/loss situations. You can also enable the notification option in order to receive updates about all investments and payment reminders. Invest in IPOs, mutual funds, equities and commodities with the help of Angel Broking software.
Key features of Angel Broking:
- Multiple accounts
With the help of Angel Broking software, it is possible to create multiple accounts based on trading strategies.
- Manage portfolios
Online trading allows a trader an opportunity to manage portfolios without involvement of any third party.
- Monitor stocks
You can monitor stocks by reading research reports generated by the auto trading software.
- Set trading limits
Angel Broking enables investors/traders to set personal trading limits as well as buy/sell orders.
Pricing: The price of Angel Broking Trade is available on request.
USP: Provides swing trading signals for equities, indices, etc.
Webcom E-Trade platform is one of the best trading buy sell signals software, which is used to manage stock futures, equity, indices and MCX metals. Along with providing buy/sell signals, it also provides Trend Strength report for better decision making. You can also check your recent trades and their performance for better decision making. Performance reports by Trade V auto trading software to help you get the best from your financial products.
Key features of Trade V:
- Multiple Segments
This stock trading software is used for managing currency, equities, indices and other types of stocks.
- Information Bank
You get information related to new signals, target values and stop loss for better management of your latest trades.
- Favourite & Alerts
This software tracks stocks and sends signals as soon as the status of a stock changes or if a new trade stock comes in.
- Message Centre
The message centre of Trade V software highlights any offer or announcement along with top trades.
- Supports Multiple Platforms
Trade V can be accessed through desktop, mobile applications and a mobile app (for both Android & iOS).
Pricing: It’s available at the price of Rs 9000. To know more about the product, please connect with us.
Frequently Asked Questions (FAQs)
- What are the potential risks of day trading in India?
- Manipulation on non liquid stock
Technical analysis won’t work on such stocks and you might end up losing money.
- Small time window
Intraday trading operates only for 5 hours and the position has to be locked within that time period.
- Capital erosion
Intraday trading runs the risk of capital erosion as the trade is carried out with finite capital.
- How to minimize day trading risks with the best trading software in India?
Following are the steps through which you can minimize your day trading risks
- Setting reward:risk ratio
Don’t target an expanded profit order or reduced stop loss to achieve a better ratio. Skip any trade that doesn’t match your ratio
- Avoid setting short term goals
Setting daily or weekly goals builds unnecessary pressure and the need to trade. Opt for long term goals such as semi-annual or annual goals instead.
- Alter position size
Reduce position size on trades having lower win rate and increase it when the win rate is higher
- How to find the best technical analysis app for the Indian stock market?
The search for the best technical analysis app is based on your own goals and what you expect to get out of trading.
- You should ask yourselves whether you want to be a professional trader or earn quick profits over a short period of time.
- Other crucial factors include how quickly the app alerts you about changes in the market.
- Finally, you should choose apps that let you perform automated trading and perform technical analysis of each of your investments.
Trading Software has in-built mechanisms for easing the trade and investment decisions of its users. The multiple tools and interactive features that different types of share trading software or stock trading software provide are meant for smoothening the functioning business operations of traders, investors and its other end users.