EZYStation 5 Review
EZYStation installation was straight forward and painless, with the CD spinning itself up and depositing the package first go on both my work PC and at home, simply by following the default settings and blindly clicking “Next”. Just how I like it. The next step was a bit tricky – the Installation Guide appeared to be for version 4.40.000, and one crucial step didn’t appear when the guide said it should; the historical data supplied on the CD didn’t install as a result. When I tried to download some updates, the server quite rightly reported that there were too many updates to retrieve – about 15 years worth. Skipping ahead a couple of pages quickly provided the solution. Happily, when I did download some updates, EZYStation negotiated the work proxy server with ease.
Then, as happens with any new application, I sat staring at an alien screen for about 20 minutes, wondering what to do next. All my best guesses about where to click and where to point were fruitless. In desperation, I turned to the last resort – The Reference Manual. Not the slim and colourful Installation Guide, but the thick and weighty Reference Manual. To my delight, it was logically set out and easy to navigate, and the information was accurate so immediate results were forthcoming.
Setting parameters for studies and indicators was a little painful – right clicking on a chart gives a table of statistics where I kept expecting to be able to edit parameters this way. Instead you have to go through the menus. Once set though, you can quickly set up style sheets which give consistent settings for all your charts and not have to worry about altering numbers.
All the indicators I could hope to use were available, and other components – a portfolio manager, a stock picker, a backtester – were straightforward to use. There is also a custom indicator builder.
Being an Australian company, the EZYCompany support line is local, answered promptly and is very cheery and helpful – afterwards, I felt glad that I’d called. I didn’t try email support, as the phone support was so handy.
All in all, EZYStation did do the job for me. It took a little effort to get beneath the surface, but any problems were simply enough resolved and the phone support should see the most problematic customers fixed in no time. And once it got into it’s groove, the package was reliable, stable and smooth.
Intermediate Level
EZYStation came with a CD and an Installation Guide, which was extremely useful, and gave me step by step instructions, so that it was impossible to get it wrong.
The installation was simple, all that was required was to obtain a login and Registration Key by either emailing or calling the EZYStation’s support desk in Melbourne. It was good to have a technical support team to call on in Australia, rather than having to wait to call an international support team during their business hours.
What made the system really easy to use, once all the data was downloaded (you can download 15 years worth of data from the CD provided), was the Reference Manual. It detailed all of the features of the software using pictures and text, and explained in depth what each of the functions were and how they could be used to analyse stocks for trading triggers. Workshops are also available for those who would like further tutoring on how to use the product to trade the markets. Data is easy to download and only takes about a minute at the end of each day using a dial-up connection. As the data I was using was end of day, I experienced no problems with the applications speed and stability on my PC.
Very easy to use – once the daily download is complete, you have all the data stored on file, with which you can overlay the many charting tools in the package. The reference manual provided explains all of the charts and how to interpret them. You also have the choice of using preset parameters, or creating your own to generate signals. Some of the preset parameters are Gann cycles, Elliot counts, Time and Price, Moving Averages, Volume and much more.
The data is to be downloaded at the end of each day, and will automatically take into account any corporate actions or stock splits. Even if you haven’t logged in and updated your data for a few days or weeks, the system will remember the corporate action in the stock for your next download.
Another important part of this package is that it comes with a Trade Manager, which records all trades you make and can convert them back to a currency of your choice on a daily basis (should you be trading in off-shore markets). The Manager also provides daily fundamental data on each company tracked. The best part is that at the end of the financial year, you can get the Manager to prepare all the necessary reports.
A daily market wrap is available (up to three times a day) called EZYWrap, with which you can customize the information and how regularly you receive it. Alerts can also be sent via email or by SMS to your mobile.
Experienced Level
My rules for charting software are simple:
1. It must present the information you require in a clean efficient manner; 2. It must have a custom scanning engine that allows you to create and test your own ideas; 3. It must not drive you around the bend with idiosyncratic quirks.
If you are keen on creating and testing trading ideas using a programming language, then EZYStation might not satisfy that need. The bundled Analyser will allow you some leeway in creating scans, but these will need to be built around defined indicators such as MACD, Moving Average, and OBV.
What the charting section of EZYStation (EZYCharts) does well is to provide a useful charting program. The charts are crisp and clear, and the user interface is reasonably intuitive. There is a vast array of indicators to keep most indicator happy traders occupied for hours.
I experienced a problem with the plotting of the ATR stop loss indicator. This indicator will simply mirror price at a given ATR distance. The expression plot the close minus a given ATR multiple is inadequate for constructing a stop, since it makes no reference to an equity high from which the stop can be hung and then plateaus until a new high is made. This does not give a definitive stop loss point. This problem is rectified elsewhere in the program, where a selection of stops is offered.
In addition, this section does have some quirks, such as the lack of a right click menu to change the indicator. Also, indicators cannot be selected and deleted by simply clicking on them and hitting delete.
The EZYCharts section of the program is a solid charting program. My major concern for users is one of expendability. Program users grow in their ability to use a program to its maximum potential. In the case of the EZYStation bundle, dedicated users might outgrow the Analyser portion of the program.
EZYCompany Response
EZYStation 5 is a comprehensive trading tool. There are features these reviewers may have missed including: * Access to live price data, news, fundamental analysis and portfolio tracking at EZY online; * The ATR indicator stop-loss tool, a simple indicator preferences change transforms it into the powerful stop-loss tool. This shows where any drop in price breaks the ATR line; * The ability to build a private indexes or advance/decline lines based on GICS sectors; * Export facility for users to open reports in their favourite spreadsheet application; * Exceptional technical and development support even offering the ability to link computers to solve problems quickly.
Great for new analysts is the ability to find a wealth of information on applying trading strategies using the EZYStation; renowned authors Leon Wilson, Bill Wormald and Daryl Guppy discuss their trading tactics in their books. These are easy to read and found at any book retailer.
EZYCompany is committed to continuing to improve our great range of Australian products. Forthcoming versions can expect to have more technical indicators, more functions and greater flexibility in scanning tools. EZY even provides free upgrades for our customers.
This article was originally published in the Sep/Oct 07 issue of YourTradingEdge magazine (www.YTEmagazine.com). All rights reserved. © Copyright 2009, MarketSource International Pty Ltd.
Posted: October 29th, 2008
at 5:49pm by admin
Tagged with best guesses, ezystation, proxy server, stock picker
Categories: tradesoft reviews
Comments: 40 comments
40 Responses to 'EZYStation 5 Review'
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