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AmiBroker is a very powerful tool and to get the most out of it, one needs a good data feed. It is a real-time and historical market data service that delivers market data to your AmiBroker environment, which powers your technical analysis and strategy creation. However, for newcomers, it is not very easy to work with the Amibroker data feed.

 

Not to worry! This guide will help you understand how to choose the right data feed for your trading.

 

What is an Amibroker data feed? 

An Amibroker data feed can be described as a real-time connection between the financial markets and your AmiBroker application. It constantly pulls and sends market data such as price, volume, and other factors for assets such as stocks, futures, and currencies. This real-time data enables you to monitor the market and its trends, find trading signals, and even test your strategies with the help of historical data. 

 

How to Set Up an Amibroker Data Feed?

Setting up an Amibroker data feed typically involves these steps

  • Choose a Data Feed Provider: There are many providers of Amibroker data feed and most of them have different prices and options. We will discuss the selection of the right provider in the subsequent section. 
  • Download and Install the Software: Many providers provide files that can be downloaded to link to AmiBroker and obtain data. 
  • Configure Settings: You will have to set up the software to define what kind of data you wish to be fed to you (stocks, options) and the time frame (real-time, historical). 
  • Connect to AmiBroker: After that, the software will create a link with AmiBroker through which the data will be automatically imported to your platform. 

The Various Categories of Amibroker data feed:

There are two main categories of Amibroker data feed: 

  • Real-time Data Feeds: These offer real-time market information with little or no latency which is important for active day traders who require to respond to market changes in real-time. 
  • Historical Data Feeds: These provide historical data for testing trading strategies and studying the market’s past performance. Some providers provide both real-time and historical data in a single package. 

Paid vs. Free Amibroker data feeds: The advantages and disadvantages of the situation 

Paid Data Feeds: 

Pros: 

  • Reliable and High-Quality Data: Paid feeds are usually more accurate and have less variation in data and there is usually little or no delay. 
  • Wider Range of Assets: Paid feeds are normally more diverse in the number of assets covered, including international markets and exotic instruments. 
  • Advanced Features: Some of the paid feeds offer extra services such as Level 2 data or news feeds. 
  • Dedicated Customer Support: Paid providers often provide customer support for any issues that may arise or for assistance in the installation process. 

Cons: 

  • Cost: Paid data feeds attract a fee that is charged either on a monthly or annual basis depending on the provider. 

Free Data Feeds: 

Pros: 

  • Cost-Effective: Free data feeds are suitable for newbies who want to start with a small capital. 

Cons: 

  • Limited Data: Free feeds may not cover all the assets, may not have historical data, and may be delayed. 
  • Lower Reliability: Free data feeds are likely to be less accurate and may be unavailable at times or contain errors. 
  • Limited Support: Free services rarely provide their customers with a dedicated support service. 

Choosing the Right Amibroker Data Feed:

The perfect Amibroker data feed varies with the trading strategy, experience, and capital that you have. Here are some factors to consider: 

  • Trading Needs: Day traders require data in the shortest possible time while swing traders may require data for backtesting. 
  • Data Requirements: Think about the particularities of the assets and data that you are going to use for your analysis (e.g., Level 2 data). 
  • Budget: Decide how much money you are willing to spend for a data feed subscription. 

Through this analysis, you will be in a position to choose the right Amibroker data feed that will fit your trading style. Therefore, explore the Amibroker data feeds, enhance your analysis, and unleash the potential of your trading strategies! 

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