AmiBroker and TradingView are two leading platforms for technical analysis and trading, each catering to different trader needs with distinct strengths. Below is a detailed comparison based on key parameters such as deployment, features, scripting, pricing, and usability.
Overview
- AmiBroker: A desktop-based software designed for professional traders, emphasizing advanced backtesting, customization, and portfolio analysis. It uses the AmiBroker Formula Language (AFL) for scripting and is particularly popular in markets like India for equity and options trading.
- TradingView: A cloud-based platform known for its user-friendly interface, social community features, and broad market coverage. It uses Pine Script for custom scripting and is accessible across devices, making it ideal for beginners and intermediate traders.
Key Differences
1. Deployment and Accessibility
AmiBroker
- Desktop-based, requiring installation on Windows (MacOS/Linux supported via virtualization).
- No cloud access, limiting mobile support and requiring local data storage.
- Offline functionality once installed, ideal for traders not reliant on constant internet.
TradingView
- Cloud-based, accessible from any device (web, mobile apps for iOS/Android).
- No installation required, offering seamless cross-device syncing.
- Requires an internet connection, but provides flexibility for traders on the go.
2. Charting Capabilities
AmiBroker
- Offers advanced charting tools with deep customization via AFL.
- Supports various chart types (line, bar, candlestick) and complex indicators.
- Lacks the visual polish of modern platforms, with a less intuitive interface.
TradingView
- Provides user-friendly, visually appealing charts with ready-made layouts (Bar, Hollow, Area, Renko).
- Excels in multiple timeframe analysis and chart comparisons.
- Extensive library of indicators and drawing tools, ideal for diverse trading styles.
3. Backtesting and Strategy Development
AmiBroker
- Industry-leading backtesting engine, supporting portfolio-level testing, walk-forward testing, and Monte Carlo analysis.
- Highly customizable via AFL, allowing complex strategy coding in fewer lines.
- Ideal for algorithmic traders needing robust validation of trading systems.
TradingView
- Limited backtesting capabilities, primarily offering bar replay for manual validation.
- Pine Script allows custom indicators and strategies but is less powerful for advanced automation.
- Better suited for traders focused on charting over complex strategy testing.
4. Scripting Languages
AmiBroker (AFL)
- Syntax similar to C, with built-in functions for technical analysis.
- Steeper learning curve but highly flexible for custom indicators, scanners, and trading systems.
- Preferred by traders comfortable with coding.
TradingView (Pine Script)
- High-level, user-friendly language with ready-made functions.
- Easier to learn but less flexible for advanced automation.
- Suits traders prioritizing simplicity and community-driven scripts.
5. Data Feeds
AmiBroker
- No built-in data; requires third-party data vendors (e.g., Ami Feeder Data plugin), adding setup complexity and cost (e.g., ~₹2,500/month in India).
- Supports integration with external feeds for real-time and historical data.
TradingView
- Built-in data feeds covering stocks, forex, cryptocurrencies, and commodities.
- Free tier may have data delays; premium plans offer real-time data.
- Simplifies setup for beginners but may lack depth for niche markets.
6. Alert Systems
AmiBroker
- Built-in, highly customizable alert system for predefined strategies, scripts, or stock selections.
- Integrates seamlessly with trading workflows.
TradingView
- Requires integration with external alert services for advanced functionality.
- Basic alerts available but less flexible than AmiBroker’s system.
7. Pricing
AmiBroker
- One-time purchase (~$279 for Standard Edition), cost-effective for long-term use.
- Additional costs for data feeds and optional add-ons.
- No tiered pricing, limiting flexibility.
TradingView
- Free tier with limited features; paid plans start at ~$14.95/month (Pro plan, subject to change).
- Tiered subscriptions (Pro, Pro+, Premium) offer scalability but recurring costs add up.
- More flexible for traders testing the platform or needing short-term access.
8. Market Coverage
AmiBroker
- Focused on stocks, futures, and options, particularly suited for traditional markets (e.g., NSE, BSE in India).
- Less versatile for forex or cryptocurrencies.
TradingView
- Broad coverage, including equities, forex, commodities, and cryptocurrencies.
- Ideal for traders diversifying across asset classes.
9. Community and Support
AmiBroker
- Active community with extensive documentation but limited official support.
- Fast, reliable technical support for specific issues.
TradingView
- Vibrant social community for sharing ideas, analyses, and strategies.
- Strong customer support and regular updates, enhanced by user-generated content.
10. Ease of Use
AmiBroker
- Steeper learning curve due to its technical depth and outdated interface.
- Best for experienced traders comfortable with customization and coding.
TradingView
- Intuitive, beginner-friendly interface with minimal setup.
- Preferred by casual traders or those valuing accessibility and community interaction.
Verdict
- Choose AmiBroker if you are an experienced or professional trader needing advanced backtesting, portfolio analysis, and automation. Its one-time cost and powerful AFL scripting make it ideal for algorithmic traders focused on stocks and derivatives, particularly in markets like India. However, it requires technical expertise and external data feeds.
- Choose TradingView if you are a beginner, intermediate, or mobile trader prioritizing ease of use, cloud accessibility, and a vibrant community. Its built-in data feeds and Pine Script suit those focused on charting and diverse markets (stocks, forex, crypto). However, recurring costs and limited backtesting may deter advanced users.
Recommendation
If you’re unsure, try the 30-day trial of AmiBroker or TradingView’s free tier to test their features. Your choice depends on your trading style, technical expertise, and budget. For in-depth analysis, AmiBroker excels; for flexibility and community, TradingView is better.