AmiBroker – Introduction

December 8, 2012

Traders,

As you would have read in the previous blog: Technical Analysis – Intro, we give you technical analysis tools on Zerodha Trader – our trading platform. But there is a huge difference between driving a fast car and driving a Ferrari Formula 1 car. Once you are proficient at Technical Analysis, you would benefit quite a bit by using a professional charting platform. Zerodha Trader is a trading platform which also allows you to do technical Analysis, but AmiBroker is a professional charting platform that lets you do advanced technical analysis.

Similar to AmiBroker there are a bunch of other professional charting platforms that are available in the country like MetaStock, NinjaTrader, Advanced Get from eSignal, etc. AmiBroker is one of the most popular TA (technical analysis) tools in the world. We’ll explain below in brief what AmiBroker is and why you as an advanced technician need it.

What is AmiBroker?

AmiBroker is a comprehensive technical analysis program, with advanced charting, back-testing and scanning capabilities.

What are the features of AmiBroker, why should I get it?

  • Powerful Charting: Object oriented drawing tools, drag and drop indicator creating capabilities, modern customizable user interface, multiple time frame on charts, popular built-in indicators, etc.
  • Symbol and Quotes Database: Build up and store historical data, unlimited number of symbols and quotes, powerful filters, etc.
  • AmiBroker Formula Language: It is an advanced formula language that allows you to create your own indicators, trading systems and commentaries. It is specifically designed for traders so writing technical analysis formulas is easier and quicker than in general purpose languages. It features more than 200 built in AFL functions to use as building blocks for your formulas.
  • Backtesting and Screening: Automatic analysis window enables you to scan your database for symbols matching your defined buy/sell rules. AmiBroker automatically produces the report telling you if buy/sell signals occured on a given symbol in the specified period of time. You can also perform full featured back-testing of your trading strategy, giving you an idea about the performance of your system.

The list of things that AmiBroker can do is almost unlimited and it would be best to check here and here.

It is very important to understand that if you decide to go ahead with AmiBroker, it will most likely be self-learning, learning from online blogs/forums or from the AmiBroker tutorial section itself.

Some of the must reads if you are planning to become an expert on AmiBroker are:

  1.  http://introductiontoamibroker.com/book.html – there is a pdf available on this link. It is a book by Dr. Howard Bandy.
  2.  http://www.blueowlpress.com/wordpress/links/
  3.  http://www.amibroker.org
  4.  http://finance.groups.yahoo.com/group/amibroker/

Now AmiBroker is like a Formula 1 car, but you need to still fill gas to run this car. What I mean to say is that to run a charting platform you need live data (data from the exchange as only then will the chart form). Unlike a trading platform like ZT where data is already coming from an exchange, you will need live data on a technical analysis platform to see live charts. Data again comes in 2 forms, live data and end of day (EOD) data. If you are an investor who takes trading decisions/analysis only after the market has closed, you would need to subscribe only to EOD data. But if you want live charts then you will need to subscribe for live data.

As of now globaldatafeeds.in is the only authorized vendor for AmiBroker software license/datafeeds in India and we have a special partnership to benefit all our clients.

To use AmiBroker, you have to incur two costs:

1. AmiBroker software license: This is a one-time cost and presently AmiBroker has 3 different editions:

a. Standard Edition: Rs 12500

b. Professional edition: Rs 17600

c. Ultimate Pack Pro edition: Rs 25800

The above charges include taxes and you can visit the following link to know the difference between these editions. The above price for purchasing the license is same for all clients of Global Datafeeds and there is no special discount.

2. Data Subscription: Global datafeeds offers 3 data packages and subscription to any data package. This includes real time data as well as EOD(end of day) data. The data subscription costs are recurring and you have an option to subscribe for 30, 60, 90, 180 or 365 days. Subscribing for 365 days would give you the best price advantage.

There are 3 data products you can subscribe to, check this link for more information. For a detailed comparison between data products see the comparison matrix.

What is the advantage for Zerodha Clients?

Because of its partnership with Zerodha, Globaldatafeeds will offer you live data at the lowest cost in the country. As a special offer they will give upto 50% discount on their data products only to Zerodha clients. People who have already subscribed to live feeds from other authorized data vendors in the country would be pleasantly surprised to see savings they make compared to their present vendor.

Have a look at the special rates offered to Zerodha’s clients.

If you want to go ahead and buy an AmiBroker license or subscribe to data (if you already have AmiBroker or similar platforms like MetaStock, Advanced GET or NinjaTrader), you can contact them on live chat by visiting this link and don’t forget to provide them your Zerodha client ID.

Remember that AmiBroker is not a tip providing machine. You have to put an effort to learn and educate yourself, but once you have put some time on it, you will have a tool which is extremely powerful and will help you improve the probability of winning in the markets.

 

Happy Trading,

Nithin

Nithin Kamath

[email protected] Zerodha, working towards breaking all barriers that I personally faced as a retail trader for over a decade. Love playing poker, basketball, and guitar. “You don't have to be a hero to accomplish great things---to compete. You can just be an ordinary chap, sufficiently motivated to reach challenging goals.” - Edmund Hillary

68 comments

  1. Rajesh Choudhary says:

    it is may useful for me so explain me it in detail
    Contact No. 9828624932

  2. Nithin Kamath says:

    @Rajesh, all the details are on the 4 blogs mentioned here.. Amibroker is provided from our partner globaldatafeeds.in, you can reach their online support for more..

  3. Mohammed Razdar Khan says:

    i already have AMIBROKER platform since last 3 months,but offlate it’s signals are also failing pl advise
    user id APRR0714 mcx

  4. Nithin Kamath says:

    @Mohammed, Amibroker is just a tool for making best use of your technical analysis strategies. I guess the best thing to do would be to work on your technical analysis strategies, learn more on that.

  5. melwin says:

    Hi,do i need to be ncfm certified to subscribe ammi broker(completely automated)

    • Nithin Kamath says:

      Yes, to completely automate you will need a dealer terminal and for running a dealer terminal you will need an NCFM/NISM certification.

  6. Tharun says:

    Hello,
    My questions are.
    1) Do i need both capital and derivatives dealer module exam to be cleared?
    2)How much should i pay for taking dealer terminal?
    3)brokerage will be same or will be changed?
    4)margins provided will remain same?
    thank you

    • Nithin Kamath says:

      Tharun

      1. Just derivative module should be enough, but preferable to have capital market also.

      2. Dealer terminal rentals are Rs 250/month/segment/exchange. So for eg for NSE , NFO and CDS it will be Rs 750

      3. Brokerage and margins remain the same.

      Cheers,

  7. RV0702 says:

    I have a job that requires 3 to 5 visits(travelling intra city) per day mostly on bike. Amibroker does not provide mobile hourly live chart for index/currency monitoring. Ami chart not useful for my life style. may be useful for full time trader.

  8. Anees Ahmed says:

    do i need to buy from the official site of ami broker?? o can i get it from zerodha?? also my nest charts are not working only..

  9. Ramu says:

    What all types of orders that could be sent from Amibroker tool will be supported in Zerodha under semi-automated mode. For instance, can I raise bracket / trailing stop loss/ combinational orders from amibroker and zerodha can handle them?

    What all such features of amibroker does zerodha doesn’t support

  10. Ramu says:

    Thanks for the details Nithin.
    One more query – Is there any other way to place BO, TSL orders through Zerodha? If so, what are pre-requisites for that and how to do that?

  11. RT0275 says:

    Nithin, the amibroker logo image is getting chopped off in the landing page. It reads AmiBroke. In Bengali that would mean “I’m broke”. I hope that it’s not a sign of things to come.

  12. Fahad Malik says:

    Just now switch from Religare to Zerodha…

    I am comfortable in Ninja Trader,
    Didnt tried on Zerodha Pi,

    So is there any way i can go for Ninja Trader 6.5 with Global Datafeed(Nimble Data Plus Lite) FNO MCX FX and Plugin with Zerodha.

    1. Ninja Trader 6.5
    2. Global Datafeed(Nimble Data Plus Lite) FNO MCX FX
    3. Plugin with Zerodha.

    I am aware with Zerodha Pi, but dont know how much to wait.

    Not comfortable with AmiBroker….

    Windows 7 (Fedup) + Amibroker (Good)
    to install Amibroker, i have to install this file, then that file, then C++ Binary, then AFL language, then all is not compatible with that version……. and continues

    Ninja Trader: Simple , install, and start Trading.
    Hope , this will be done on Zerodha Pi also.

    Zerodha Code: DF0068

  13. bvmahesh21 says:

    for beginners its necessary ? or which one good for practice TA.

  14. Gopi says:

    hai nithin,
    if i become as a authorised person of you,
    can i perform automated trades through pi

  15. mohan says:

    do we get stock trading advice’s?

  16. NIRANJAN says:

    Hi Nitin,
    Recently I have brought amibroker software but I am not able to use it fully because I can’t use its best features like scanner, getting realtime alert on your screen etc, because I don’t no any AFL coding. I search on net where I can get step by step training on AFL coding but I didn’t find any such sites. I request you to start a course on AFL at zerodha varsity.
    Also I want to know can anyone at zerodha can help me to code my strategy in AFL or support me in learning AFL?

  17. Akshat says:

    Hi Nithin, Congrats on revolutionising the way people trade. Zerodha is one of a kind.

    My query is that can I trade commodities with NinjaTrader, using Zerodha as a broker? If not, can you suggest me better platforms to do the same. I would be more interested in automated and semi-automated trading.

    Cheers!

  18. Saurav Kumar patra says:

    I am use only Android Mobil .can I use Ami broker for trade at zerodha.please tell me

  19. subrata chakraborty says:

    I would like to purchase Amibroker Software. Do you sell the same? If not from where I can purchase the software for my own by using Indian currency?

    If I open my trading account with you, Can I use data for my amibroker through you? what is the procedure and how much price I have to pay?

    Thanks

  20. amit kumar says:

    i want to start pluge in trading with ammy. but the main problem is i can not make my strategies so is there any company who can make strategies on behalf of me.

    • amit kumar says:

      as i know about plug in trading, brokerage company provide as plug in with ami, and we have to make our strategies in AFL format, but the mail problem is that i can not program strategies, is there any vendor who can program strategies as per my requirement

      kindly provide me clarification about whole process

  21. ahmad a memon says:

    sir
    zerodha is a very different from others…..pi and kite are very beautiful trading terminal…. …..if zerodha give some extra features like tbts indicator on pie and kite than its become superior combination….think on it sir…if amibroker do it than why zerodha don’t?

  22. Omar H says:

    Dear Sir,
    A networking query. At our office I am hoping to get fastest speed and lowest latency connectivity on your various Client software Pi, Q, Kite. We have multiple internet connections, is there one or more of your public ip againt which I can check my trace/latency.
    Hopefully in the Future you will offer Bloomberg like terminals and MPLS Leased Lines. 🙂
    All the Best.
    Thanks

  23. Ab says:

    Hi Nithin,

    Does amibroker provide option chains analysis? For ex: If I want to see Option greeks in real time along with the full option chain, can I get that in Amibroker?

    If not, do you know of any other resource (Free or paid) which can give such info readily (without any need for me to manually use Black scholes calculator)

    Thanks
    Abhay

  24. Narendra says:

    Sir I was maintain 140000my account RN5196 you back office showing wrong amount 11000 three days onward iwas calling today morning send it to me again today it shows 11000 plz solve my problem,

  25. PANKAJ KUMAR GUPTA says:

    CAN WE PLACE COVER ORDER THROUGH AMIBROKER BY PLACING AN STOPLOSS WITH EVERY ORDER ? AND IF NOT THEN , HOW CAN I GET THE SAME MARGINS (like in cover order).

  26. RINKESH says:

    Dear Sir,
    I want to know whether amibroker allows us to save our applied technical indicators(like b bands, Macd etc.) on target stocks under study for a long period. Or we have to put fresh indicators on target stocks daily? I find it hard to put new indicators everytime as it reduces efficiency.

  27. Sidharth says:

    Which exam is to be passed from NSE for becoming acertified technical analyst???

  28. Monil Sharma says:

    @nithin how much delayed is the tick data feed ?
    Also if we require data in miliseconds how to get it ?

    • Venu says:

      The delay may be a few miliseconds, not high enough to have a severe impact unless you are using latency sensitive formulas. If latency is an issue, you have to consider co-locating your servers and subscribing to tick by tick data which is expensive.

  29. seema bothra says:

    Dear Sir,

    First i would like to say many many thanks for your new concept sharing our trades under opentrade.in
    I am taking this as my carrier opportunity and trying to increase my followers by increasing profitability day by day
    but many times profitabilty is not updating , streak rate etc and System also taking debentures as capital and due to that return on capital showing low amount. Interest on NCD we get in our bank account directly so i think it should not be counting as capital .

  30. Kundan Kumar says:

    Hi Nitin, which software is the best for Mac platform?

  31. Amey says:

    Can i put manual orders base on price action and preset my target on charts

  32. PK says:

    Hi
    I have 2 questions.
    Is there a possibility that Zerodha will provide Good Till Cancelled (GTC) facility in future ?
    Can Amibroker be used with downloaded quote from AmiQuote instead of subscribing to data feed atleast for sometime to get acquainted with the system ?

    Thanks

  33. Shaleen Gaurav Agarwal says:

    Hi

    I am a Zerodha client for last couple of years. I have developed a strategy for F&O trading, which requires manual interventions as per market movements (not completely automated). Pl suggest backtesting platform which could be used for back-testing with User interface.

    Best Regards

    Shaleen

  34. Rahul Singh says:

    Hi Zerodha,

    The links which you guys has been linked in contents of Amibroker are not working,Could you link correct hyperlinks so that we can refer to those links,Not even a single hyperlink are having correct page link here,

    Thanks,

  35. pankaj says:

    dose zerodha provide auto trade with ambibroker platform. algotrade
    Thanks

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