TraderStar is a comprehensive technical analysis program designed for any investor. Users can choose between a free, but limited, version of the program and an inexpensive, enhanced Pro version. Both versions are capable of analyzing stocks, funds, options and futures from 40 of the world’s major stock exchanges, and in four different languages: English, Spanish, Russian and German. Through separate downloads, the program is compatible with Windows, Mac OS X and Linux.
With TraderStar, traders can chart almost any investment and customize it with a variety of overlays and indicators for technical analysis. The list of available indicators is very comprehensive, with even more indicators available for download on TraderStar’s website. To access the website, select the “More Indicators” button in the Indicators tab.
One interesting feature in particular is Candle Guru. This tab allows users to select from a list of chart patterns, such as Doji and ThreeBlackCrows, and have the program search for them in any chart. The Pro version lets users access all of the patterns, while the free version only allows access to Doji and Harami. Users who prefer their own pattern recognition methods can use the Draw feature to manually draw trend lines, for instance.
Other free features include a built-in economic calendar, market news feed and real-time currency converter. Premium features, which are only available on the Pro version, include a stock screener, backtester and real-time quote monitor. Since the abundance of features can be a bit overbearing, the program offers a Help Wiki page and a variety of video tutorials to help users navigate it.
TraderStar 1.1 is far from perfect, but it offers many distinctive features that traders might like to try. Moreover, the program is constantly being updated based on user feedback, meaning that it should only get better. Arguably, the program’s main flaw is the disconcerting feeling one gets when using it. That is, the program is very inexpensive given all the features it claims. For instance, it is difficult to find a real-time quote service for under $10 per month, yet the Pro version of TraderStar, which only costs about $18 a year, claims to offer real-time price change monitoring.
System Requirements: Windows XP/Vista/7, Mac OS X, or Linux; Graphics Card: 32MB; RAM: 512 MB; Processor: up P3 600MHz; Sound Card: 16-bit Soundcard; Internet connection for the activation.
Price: Free; approximately $18 per year for Pro version