Amibroker is a fantastic technical analysis platform for traders who need the flexibility of using custom indicators or performing complicated backtests. Amibroker is a versatile platform for backtesting, charting, and trading system development. Similar to how a car needs fuel to run, Amibroker needs data to operate. But unfortunately, data doesn’t come out of the box with an Amibroker subscription; you need to subscribe data separately from 3rd party sources and plug it into Amibroker. In this post, we’ll look at the ways to select the best Amibroker Datafeed services in India.
Data Vendors
The foremost thing to know about Amibroker is that it requires data. Without data, Amibroker is just a blank slate…there’s nothing much to see, and there’s nothing to do there… so we need the data.So, how do we get the data into Amibroker?
Well, we have to buy the data from data vendors. Data vendors have all the data we need, and in the format Amibroker understands. There are many data vendors; you can just go to their website, pay a monthly fee, and that’s it; these data vendors take care of all the setups.And once the setup is done, the data begins flowing into Amibroker on a real-time basis.
You can select the best Amibroker Data Feed provider based on the following parameters:
Connectivity with Amibroker: The datafeed should deliver a plugin to connect with Amibroker in a hassle-free way.
Accuracy of data: The data feed should provide accurate data that can be used for live trading and backtesting.
Live and Historical Data: Along with the live data; the datafeed should offer an optional source of historical data that can be utilized for backtesting.
Cost: The cost of a data subscription should be nominal.
Choose the Best Data Feed Providers for Your Amibroker
To start using Amibroker for charting or technical analysis, you need to buy a data feed from the best data service provider. The data provider helps you configure the feed setup over team-viewer for the first time.The data-feed industry is loaded with too many unauthorized data vendors. Most of them have websites under different names or menu cards but cooking from the same kitchen. They falsely advertise in real-time as approved by DOTEX, NSE etc. Discuss the quality of service you plan to buy with your friends and colleagues who are already using amibroker.
Please note that some data feed Providers do not reveal the limitations of their feed at the time of sale. The limitations would mean you can scan or backtest only a fixed number of stocks at one time. For example, Provider A supports the screening of 45 stocks, while Provider B supports 100 stocks for the same price. If you plan to do an ample historical backtest using Amibroker. To avoid dissatisfaction, double check your back-fill data requirements first with the data provider you plan to choose.
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