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Free Charting Software- Stock Fetcher Review

 

Until recently, traders had to pay high prices for quality charting services. Stockfetcher.com changes all that, and to boot, it provides easy-to-use, quality, back testing and stock screening functionality. Stock Fetcher is web-based and comes in both free and paid versions.


Charting
Stock Fetcher has what it calls SF 2.0, which is a charting application that uses Adobe Flex technology. The charts it produces are very nice. You can easily change the appearance of them, zoom, and most importantly, easily add a variety of indicators and studies. Most, if not all, of these studies are customizable as well.


Stock Screening
One of the great features integrated with Stock Fetcher’s charting is its stock screener functionality. You can program the screener to search for every condition under the sun, e.g., only search for stocks which recently had a new 52 week high and are under their 10 day moving average. The screener works fast and well.


Back Testing
One of the features that makes Stock Fetcher such a great value is its included back testing application. This web-based back testing functionality allows you to input buy/sell conditions, and then see what would have happened if you had followed those directions in the past. Since Stock Fetcher uses a ridiculously easy programming language, testing any condition you can think of is a breeze. For example, here is a real set of conditions you can input:


close is above 5
and average volume(30) is above 250000
and close is above MA(200)
and ma(20) is above ma(20)
and slow stochastics slow %K(5) is above 70
and close is below ma(5)


As you can see, you don’t need to be a computer programming whiz to use Stock Fetcher. Its programming language is VERY intuitive.


The Price
There are two monthly options to choose from, $8.95/month or $16.95/month. You can also buy quarterly packages for a small discount. The main difference between the plans is that you get more of the same thing, for instance, the ability to back test during a 2 year period instead of a 4 month period. Relative to other back testing and charting packages available, this is a very good deal. What’s more, you can try most of Stock Fetcher’s features for free to see if you like them.


The Cons
Despite how good Stock Fetcher is, it does have some draw backs:  there are no intraday charts, screening, or back testing abilities at the moment. If you are a swing trader, this doesn’t matter, but day traders won’t be able to use the service. Secondly, the back testing ability is limited, even at the most expensive plan, as you’ll only be able to test for two year periods, and testing doesn’t go farther back than 2002. This can be detrimental for those who want to test their strategies on pre-2000 market conditions. Finally, Stock Fetcher only is for use with stocks, so you’ll have to go elsewhere for forex charts. 


In Sum
Even though Stock Fetcher isn’t perfect, there aren’t many better or cheaper options for value seekers. More expensive charting and back testing packages like Esignal or Tradestation are probably overkill for many casual traders, so Stock Fetcher offers a great deal to a certain niche audience. Many novice or casual market watchers will appreciate their services.

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