MotiveWave Evaluate – Is The Buying and selling Software program Value Making an attempt?

About MotiveWave

MotiveWave is a desktop charting platform with superior technical evaluation capabilities. As a substitute of focusing solely on charting, MotiveWave goals to function a standalone market evaluation console. It presents superior technical evaluation instruments for locating Fibonacci, Gann, Elliott wave, Ratio Evaluation, and Gartley patterns, plus offers you entry to scanners, backtesters, walk-forward testing, a buying and selling simulator, and lots extra instruments.

So, is MotiveWave best for you? Our MotiveWave assessment will cowl every little thing you might want to learn about this buying and selling platform.

MotiveWave Video Evaluate

MotiveWave Plans

MotiveWave presents a number of completely different plans that adjust broadly in what they provide. Relying in your subscription stage, you may get a fundamental charting package deal or a full suite of charting, backtesting, walk-forward testing, and technique execution instruments. You may pay month-to-month or buy a lifetime license. All plans embody 30+ dealer and knowledge feed choices.

The Free plan presents entry to MotiveWave’s fundamental buying and selling software program options, together with charting instruments, 280 technical indicators, fundamental value alerts, commerce simulation, and replay mode.

The Commonplace plan, for $24 per thirty days or $245 for all times, permits chart buying and selling capabilities, Gann evaluation, harmonic evaluation, and depth of market knowledge. It’s focused in the direction of merchants with extra complicated methods who require extra chart templates and extra indicators, however who don’t have a use for a lot of of MotiveWave’s extra superior options like backtesting, walk-forward testing, or scanners.

The Order Circulation plan prices $49 per thirty days or $595 for a lifetime license. It contains extra depth of market instruments and second-based bars, however not a lot else. If you’d like second-based bars – that are an enormous plus for scalpers – then you definately don’t have a lot alternative however to improve to this plan.

The Professional plan prices $99 per thirty days or $1,495 for all times. It provides quite a few options, together with backtesting, superior Fibonacci instruments, superior alerts, choice chains, and auto harmonic evaluation. It’s an enormous soar in value, but in addition an enormous soar in add-on modules for merchants who want probably the most highly effective buying and selling software program potential.

Entry to MotiveWave’s superior Elliott wave software program requires an Elliott wave package deal as a substitute of one of many customary plans. The Elliott Wave Lite plan prices $89 per thirty days or $1,395 for a lifetime license. It’s similar to the Commonplace plan, however with fundamental Elliott wave instruments included.

The Final plan prices $159 per thirty days or $2,295 for all times. It contains every little thing that the Professional plan does, plus Hurst cycles evaluation and an Elliott wave scanner.

MotiveWave Charts

The MotiveWave charting platform is arguably one of the best charting system obtainable to retail merchants as we speak. The charts are endlessly customizable, permitting you to alter the scaling, bar kind, whether or not every candle needs to be primarily based on momentum, time, or vary, and you’ll commerce immediately from the charts with the Commonplace plan. They provide every little thing you would ask for from a inventory buying and selling platform.

With that mentioned, there are such a lot of charting packages on the market that they’ve turn out to be a little bit of a commodity. Even low cost brokers are providing superior dynamic buying and selling platforms to purchasers at no cost these days. Nevertheless, compared in opposition to different charting platforms, MotiveWave stands out.

For instance, one characteristic that’s uncommon to search out in charting platforms is the inclusion of time, momentum, vary, quantity, proportion, and range-based charts. MotiveWave has these. Moreover, MotiveWave helps second-based charts, which aren’t obtainable on many different platforms. One of many solely different main charting platforms we’ve seen with this functionality is TradingView.

Technique Execution

MotiveWave software program comes with greater than 30 built-in buying and selling methods which you’ll be able to deploy routinely. Right here’s an instance of William Blau’s Directional Development Index, which is a built-in technical buying and selling technique that makes use of what seems like a modified MACD to search for market tendencies.

The platform additionally allows you to construct customized methods and guide methods that reply to inputs, corresponding to a chosen entry level. For instance, you possibly can select an entry level for a commerce, then have your automated technique take over to exit at a cease loss, revenue goal, or one other set off. This characteristic is actually highly effective for merchants who wish to construct tightly managed automations and don’t wish to cope with writing customized code.

Again and Ahead Testing

MotiveWave has a robust knowledge testing system. To start out, you possibly can carry out fundamental duties like technique backtesting. Many platforms provide this, and the MotiveWave backtesting module isn’t massively completely different from the less expensive backtesting system that Cash.web presents.

The place MotiveWave takes issues to the subsequent stage is with its technique optimizer. Based mostly in your backtest outcomes, MotiveWave may also help you enhance your technique utilizing an algorithm. The system routinely tweaks your technique parameters to find out what modifications yield one of the best outcomes primarily based on historic knowledge. MotiveWave presently presents two optimization algorithms: exhaustive, which tries all potential combos, and genetic, which makes use of genetic algorithms to search out the optimum parameters extra rapidly.

Lastly, MotiveWave presents walk-forward evaluation. This may get complicated rapidly, so it’s solely appropriate for superior merchants. In essence, MotiveWave simulates knowledge to find out how your technique would possibly carry out going ahead, not simply primarily based on historic knowledge. For many merchants, the advantages of the walk-forward evaluation received’t be as nice as the advantages of the optimizer.

Elliott Wave Evaluation

Maybe an important promoting level for MotiveWave is its Elliott wave instruments. With an Elliot wave plan, the software program offers you the choice to routinely plot Elliott waves in your charts.

That’s an enormous deal. Even TrendSpider, one of many extra highly effective automated technical evaluation instruments in the marketplace, can’t routinely plot Elliott waves. This instrument can save an enormous period of time spent analyzing charts and offers skilled merchants a leg up with regards to discovering potential trades.

Even higher, MotiveWave presents an Elliott wave scanner so you’ll find upcoming wave cycles earlier than they occur. You can even combine Elliott wave evaluation into your automated buying and selling methods, enabling you to open and shut trades as new cycles start and finish.

Suitable Brokers

MotiveWave integrates with greater than 30 brokers for dwell inventory, choices, futures, and cryptocurrency buying and selling. Some standard brokers that work with MotiveWave embody Interactive Brokers, OANDA, Tradier, and TradeStation.

MotiveWave Platform Differentiators

MotiveWave stands out from different market evaluation platforms in a number of vital methods. First, it presents probably the greatest charting platforms in the marketplace as we speak. It’s rivaled solely by TradingView, and even then MotiveWave presents some options like automated Elliott wave evaluation that arguably make it the higher platform for very superior merchants. The second-based charts are an enormous plus for scalpers, though these are additionally obtainable in TradingView.

The automated technique instruments in MotiveWave are additionally key. Merchants can intently management the extent of automated execution for any technique. Additionally they don’t want to jot down customized code and might develop methods proper on their charts, making MotiveWave simpler to make use of than another buying and selling automation instruments.

The technique optimizer is one other standout characteristic of MotiveWave. This takes backtesting to the subsequent stage, enabling merchants to make use of superior algorithms to establish one of the best methods to tweak an present technique to enhance efficiency.

Who’s MotiveWave Finest For?

MotiveWave is constructed for superior merchants who need technical evaluation and technique instruments that they will’t get from most different platforms. It has a little bit of a studying curve, however skilled merchants will discover this to be a small value to pay for the vary of highly effective instruments that MotiveWave presents.

MotiveWave particularly stands out for just a few particular classes of merchants:

Merchants who wish to optimize and automate complicated buying and selling methods

Scalpers who want entry to second-based charts

Superior merchants who use Elliott wave evaluation as a part of their buying and selling methods

That mentioned, MotiveWave can be an excellent alternative for intermediate merchants who simply desire a highly effective charting platform and entry to technique backtesting instruments.

Is MotiveWave Value It?

The MotiveWave buying and selling platform is great, and you must strongly think about it should you’re in search of superior technical charts, technique automation, or Elliott wave evaluation. MotiveWave isn’t low-cost, however given which you can purchase a lifetime license, there are few different platforms that may compete on value.

For instance this level, let’s examine shopping for a lifetime MotiveWave license with shopping for a 5-year subscription to TradingView.com. If you happen to subscribe to TradingView’s Premium plan for five years, it’ll value you $2,997, and you continue to don’t personal a license. You’re simply leasing the platform. Alternatively, even MotiveWave’s most costly plan prices $2,295 for a lifetime license. MotiveWave continues to replace the platform, which provides much more worth to the lifetime licenses.

Execs

Extraordinarily highly effective charting and technical evaluation instruments, together with second-based intervals

Automated Elliott wave evaluation

Technique optimizer makes use of algorithms to completely tweak buying and selling parameters

Presents very cost-effective lifetime licenses

Cons