Sierra Chart

Sierra Chart is a highly sophisticated, professional-grade trading and charting software platform designed for serious traders, financial analysts, and institutions. Renowned for its robustness, flexibility, and extensive feature set, Sierra Chart has established itself as a go-to solution for those requiring advanced trading capabilities across multiple asset classes.

Core Functionality

1. Charting and Technical Analysis

Sierra Chart’s charting capabilities are among the most advanced in the industry:

• Chart Types: Offers a wide array of chart types including candlestick, bar, line, point & figure, Renko, Kagi, and more.
• Time Frames: Supports custom time frames from tick-by-tick to yearly charts, with the ability to create non-standard intervals.
• Multi-Symbol Overlay: Allows for the comparison of multiple symbols on a single chart, essential for correlation analysis.
• Drawing Tools: Extensive set of drawing tools including trend lines, Fibonacci retracements, Elliott Wave patterns, and custom shapes.
• Indicators: Features over 300 built-in technical indicators, covering everything from simple moving averages to complex algorithmic studies.
• Custom Indicators: Allows for the creation of custom indicators using C++ or ACSIL (Advanced Custom Study Interface Language), providing unlimited analytical possibilities.
• Real-Time Updates: All charts and studies update in real-time, ensuring traders always have the latest market information.

2. Order Execution and Trading

Sierra Chart provides a comprehensive trading interface:

• Order Types: Supports a wide range of order types including market, limit, stop, OCO (One-Cancels-Other), trailing stops, and more.
• Direct Market Access (DMA): Offers direct connections to numerous exchanges, allowing for faster execution and reduced slippage.
• DOM Trading: Features a dynamic Depth of Market (DOM) window for rapid order placement and market depth analysis.
• Position Management: Real-time tracking of positions, P&L, and risk metrics across multiple accounts and instruments.
• Multi-Broker Support: Integrates with various FCMs and brokers, allowing traders to use their preferred execution services.

3. Automated Trading

The platform offers robust capabilities for automated and algorithmic trading:

• Strategy Development: Traders can create complex trading strategies using C++ or ACSIL.
• Backtesting Engine: Comprehensive backtesting capabilities allow for strategy optimization and historical performance analysis.
• Real-Time Strategy Execution: Automated strategies can be executed in real-time market conditions.
• Event-Driven Architecture: The system responds to market events in real-time, allowing for high-frequency trading implementations.

4. Data Management and Analysis

Sierra Chart excels in handling and analyzing market data:

• Multiple Data Feeds: Integrates with numerous data providers for both real-time and historical data across various asset classes.
• Data Recording: Ability to record and store tick-by-tick data for later analysis or market replay.
• Market Replay: Sophisticated market replay functionality allows traders to review historical market conditions in detail.
• Volume Analysis: Advanced volume profile and market profile tools for in-depth market structure analysis.
• Time and Sales: Detailed time and sales window for transaction-level analysis.

5. Risk Management

The platform includes several features for effective risk management:

• Position Sizing: Tools for calculating and implementing appropriate position sizes based on account balance and risk tolerance.
• Stop Loss Management: Automated stop loss placement and trailing stop capabilities.
• Margin Calculation: Real-time margin requirement calculations to prevent over-leveraging.
• Scenario Analysis: Tools for analyzing potential outcomes of trades under various market conditions.

Technical Specifications

• Performance: Known for its high-speed performance, capable of handling large amounts of data and complex calculations with minimal latency.
• Stability: Robust architecture ensures stability even under high-stress market conditions.
• Customization: Nearly every aspect of the platform can be customized, from chart layouts to keyboard shortcuts.
• API Integration: Offers APIs for integration with external systems and data sources.
• Multi-Monitor Support: Designed to work seamlessly across multiple monitors for an expansive trading setup.

Platform Compatibility and Requirements

• Operating Systems:
  • Windows 7, 8, 10, 11 (32-bit and 64-bit versions)
  • Linux (via Wine)
• Hardware Requirements:
  • Minimum: Dual-core processor, 4GB RAM, 1GB free disk space
  • Recommended: Quad-core processor or better, 8GB+ RAM, SSD for improved performance

Licensing and Pricing

Sierra Chart offers flexible licensing options to suit different trader needs:

• Subscription Plans: Monthly and annual plans available, with discounts for longer commitments.
• Permanent License: One-time purchase option for traders preferring ownership over subscription.
• Add-ons: Additional fees may apply for certain data feeds, exchange connections, or advanced features.
• Free Trial: Offers a trial period for users to test the platform before committing.

Target Audience

While suitable for a wide range of traders, Sierra Chart is particularly favored by:

• Professional day traders and scalpers
• Institutional trading desks
• Algorithmic and high-frequency traders
• Futures and forex traders
• Technical analysts and researchers

Community and Support

• Documentation: Extensive online documentation and user guides.
• Community Forums: Active user forums for peer support and strategy discussions.
• Customer Support: Email and ticket-based support system.
• Training: While not offering official training, numerous third-party resources and courses are available.

Sierra Chart’s combination of advanced features, customization options, and robust performance makes it a top choice for traders who demand professional-grade tools and are willing to invest time in mastering a complex but powerful platform.