Advice needed - Best trading software for specific purpose

[jsc]

If I want to create a matrix:
a) Incorporating pre-defined parameters on technical indicators such as RSI, MACD, Money Flow, %Williams, Stochastics, etc...
b) That searches the FTSE 100 stocks continuously for stocks that meet these pre-defined parameters according to these technical indicators
c) Alerts me when stocks meet these pre-defined parameters

How would I go about it?

Does a system exist that can be programmed to search for stocks that meet pre-defined parameters and alerts you. The idea being a simple matrix with a number of technical parameters and the program would rip through the FTSE 100 every 5 minutes or so and highlight the stock/s that may meet these parameters, on both the buy and sell side, in order to trade CFD's on the basis of the technicals. It would save a lot of time rather than going through each stock individually and manually charting it.

There are so many trading platforms out there i dont know which might perform this simple task.

Many thanks.

 

[MrGecko]

You could do this with a DDE and Excel.

 

[jsc]

Okay - Perhaps you could be kind enough to elaborate or signpost me somewhere that might explain how to do that.
Thanks.

 

[MrGecko]

Get a datafeed with a DDE, so you can pull live prices into Excel.

Then for each of the 100 stocks, have a cell that calculates the RSI, MACD, or whatever indicator you are after. You might even be able to pull these in from the datafeed itself, depending on the package you choose.

Have another set of cells where you input your conditions - e.g. RSI > 70%... if you wanted to, you could have additional inputs for your indicator paramaters - say changing the period the RSI is calculated over.

Then run a series of IF statements, so you could say IF(rsi conditions = TRUE, 1, 0) for each of your indicators.... another IF statement could be used to tally the conditions, and if (say you are using 5 conditions) the sum of your conditions = 5 (i.e. all are true), return some cell that goes Blue / Green, makes a noise, whatever.

If all that sounds like too much work, maybe try a package like Updata, particularly if you are dealing with UK stocks.

 

[jsc]

No that is not too much work at all, I am just a novice at computer language so it will take me a while. Thanks for your help, I will try it out. I only trade intraday CFD positions on the FTSE 100 on technicals so I just want to take some of the legwork out of it, rather than having to pull up each chart seperately which wastes too much time.
I don't know much about different packages like Updata and I bet I am not the only person who struggles to discover the best package for their needs when they have an idea. However, I will look at Updata for a start and see what it can do.
Thanks again.

 

[rathcoole_exile]

check out prorealtime.com
I'm sure you can set up your parameters and run scans as you describe.

 

[jsc]

Great - That looks ideal, many thanks. I have also built it on Excel as well now.

 

[jsc]

anyone know where i can a free live data feed for stocks on the ftse?