Individuals ask me if there is an affordable charting solution for Singapore stock market. There is.
I am going to share a solution here that is very affordable and requires a one-time payment only. There is no recurring subscription. It is not free however. In my opinion, there is one quality that is very important for charting software and data download and that is reliability. This is a quality that deserves a price; free solutions may not be good enough.
2-part solution: charting software and data service sold separately
The solution I recommend comes in two parts:
Amibroker charting software developed by Tomasz Janeczko
Datafolio data downloader and free SGX stock data by Singapore enterprise Technical Analysis LLP
Many users are familiar with charting platforms that come pre-bundled with data. Although easy to install and use for new users, these kind of solutions charge hefty recurring license and data fees. They are also limited by the data provided. If your software vendor does not carry data of the stock market that you are interested in, it means you need to look for another platform.
Part #1 – charting software
Professional version of Amibroker goes for USD339/-. License allows users to run on two pieces of hardware.
I am still using mine which I paid for only $200+ years ago
Amibroker is very strong in this respect. It is an ‘empty’ software that has all the analytical functions one needs but is not pre-bundled with data. I consider it a cupboard with virtually unlimited number of drawers. You buy the cupboard first and then you choose your data according your trading and investing needs. The data then goes into a drawer. If you have multiple data, each one goes into one drawer for tidiness and speedy use. Fr example, Singapore stock data into drawer A, Hong Kong data in drawer B and so on.
Your use of Amibroker is only limited by the availability of stock data. Amibroker more than makes up for this ‘limitation’ with two strong propositions:
It is able to handle both EOD or end-of-day data as well as real-time data (limited by the sophistication of the data feed, not the software)
It is very compatible with existing data feeds provided by leading vendors
Part #2 – data service and downloader
Datafolio for SGD 88/-. Historical data adjusted for corporate action.
Very timely and reliable SGX adjusted data downloaded with Datafolio
Datafolio completes our 2-part solution. It is the combination of a downloader and EOD SGX stock data. Based on its communication, the business says that the SGD88/- fee is in fact payment for the downloader whereas its SGX EOD data is free.
The downloader is enormously useful. I have encountered EOD data for the Malaysian stock market (Bursa Malaysia) that comes in daily, weekly and monthly zipped files that are just a chore to operate.
If you like the solution presented here, follow these tips:
Since both Amibroker and Datafolio charges one-time fee, treasure your license key (which they will provide to activate use) by storing them properly. You can’t blame any one of these vendors for asking you to buy a new license if you ever lose your existing license key.
Amibroker has a built-in function called Amiquote provided free-of-charge for users to download free data from data providers like Yahoo! Finance. Most popular data sought by individuals I know are US and Hong Kong stock. It is free so do not expect tip-top quality. Amiquote also requires a ticker list to operate which you must compile yourself. Don’t expect free lunch here.
Amibroker has some really slick functions and indicators that are superior to MT4. Forex traders who are ready to pay for data can integrate these into Amibroker since it is ready for different markets.
Unfortunately for users who are not very IT-savvy, DIY is required for this 2-part solution. Do not expect on-site support or hand-holding. Be ready to go through the user manual and if necessary, email support which may not be instant since Amibroker.com is based in the US.
SingDollar EOD data from Thomson Reuters printed inside Amibroker
Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.
Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.
"I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."