by CI Staff
ProTA is a stock, mutual fund and derivative charting, analyzing and tracking program developed exclusively for Macintosh. With ProTA, investors can chart a security’s performance, track their transactions related to the security, and apply technical indicators, line studies and templates to the chart. With ProTA Gold, investors can also add custom indicators, screen through a database of securities, and create, backtest and optimize trade systems. The trial version of ProTA provides data access and analysis only on the 30 Dow stocks plus Apple, and the S&P 500 index. Purchase and registration is required for unlimited charting and analysis.
As with most charting programs, ProTA focuses on technical analysis, as is exemplified by its over 50 built-in technical indicators, such as Bollinger Bands and TRIX. However, the program goes beyond these common indicators with what it calls “line studies.” Perhaps the most commonly used line study feature is Trendline, which allows users to draw and alter their own trendlines quickly and easily. Another interesting line study, linear regression, will calculate and display a linear regression line between any two adjustable points. Although linear regression is a common indicator in charting programs, investors can usually only specify a time frame; the feature is much more customizable with ProTA.
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In addition to recording and displaying transactions on a chart, users can
also add text boxes anywhere on the chart or simply type a note. An instance where this could be particularly useful is when purchasing a security and recording potential sell criteria. Although writing notes is rather common, many programs and even brokers make it difficult. ProTA goes a step further by letting investors write directly on charts as well. Instead of having to check the notes on every investment to find the predetermined sell price, investors can simply enter the text near that price on the chart and visualize whether or not an investment is approaching that point.
The main drawback with ProTA is its lack of fundamental data. Although it may not be so necessary when trading, it would only improve the program and open it up to more investors. Since ProTA is also not as fast as professional trading programs in that it does not support real-time data, it is best-suited for moderate-frequency traders.
System Requirements: Mac OS X 10.4 or higher
Size: 14 MB
Price: Free limited trial; $129; Gold $299