MultiCharts Review

MultiCharts Charting Software Review 2024

MultiCharts Review: Back in 1999, Dennis Globa, one of the principals behind Multicharts, got involved with some of his friends in Forex trading. He soon realized that the trading platforms available in the industry at the time offered limited choices. This forced him to combine multiple services to get the job done. Still today, the flexibility of trading platforms is often an issue. You probably can relate if you’re a day trader. You won’t find many traders who like both Multicharts and NinjaTrader equally.

Multicharts has other competitors, too, of course, including TradeStation and so on. But it seems that it is more often compared to NinjaTrader. I tried NinjaTrader before my Multichart experience. Although I like that NinjaTrader can be used for free while learning to “code,” for me, Multicharts is easier to use. But that’s just me…and I’m not a coder, mind you. This platform is geared towards techy traders with advanced technical skills. If you’re a programmer or want to work with algorithms or build a customized trading app, this is for you. 

MultiCharts Website Review

Many of us use ThinkorSwim just for charting, Trade-Ideas for scanning, and then a different broker for shorting, and then… Well, you get the point.

MultiCharts solves this problem by streamlining the numerous data sources traders require to perform at optimal levels. Global and his team wanted to operate under one roof with all the needed functionality.

By 2005, Globa set out to develop a platform to perform charting per each user’s preferences. Hence, Multicharts was officially born.

Today, the Multicharts charting bundle has evolved into a full trading platform. Since 2011, it has operated on the web via stock and Forex charts.

Multicharts.Com or .Net?

MultiCharts comes in two flavors. The standalone version at is a trading program designed to automate your trades. It’s also a backtesting software.

The main MultiCharts program is found at This is designed to be user-friendly and intuitive.

TradeStation’s EasyLanguage inspired the PowerLanguage programming format. Trader-developers interested in configuring MultiCharts can do as they see fit.

In other words, if you “speak” the EasyLanguage of TradeStation, you can fully understand the PowerLanguage of Multicharts.

Not everyone is an experienced programmer or expert technical analyst in the stock market. No worries, MultiCharts can help.

Its built-in tools issue stock rankings and recommendations. Indeed, the proprietary charting and analytics system will provide alerts you can follow daily.

Both versions of the program are available online and offline. It works on the Windows Operating system. But as far as I know, it’s unavailable for Mac yet.

Mac or Windows doesn’t matter, though. Most software is cloud-based these days. A trader requires a good internet connection.

Multicharts Manual Trading Review


When making a list of stocks to trade, you can scan with your eyes or a machine. You can do both with MultiCharts, as we discovered for this MultiCharts review.

However, most traders, particularly beginners, will be better off using their real-time scanner. It monitors, researches, and even organizes the stocks they’d be interested in.

Looking at a chart with your eyes tells you a lot if you’re an experienced technical trader. You can only look at one chart at a time with your eyes, though.

The scanner’s features present trading opportunities across many securities, if not all! If we can’t find any plays for our penny stocks list, we look at our stock scanners in the morning.

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Multicharts Charting Review

A trader without a chart is like a traveler without a map. Charts are essential. The strongest attribute of the MultiCharts trading platform is its charting abilities, tools, and features.

Traders can customize their charts to suit their trading styles and preferences.

At the time of this writing, with MultiCharts, traders can work with multiple data series and symbols. Create up to 20 sub-charts in one chart. I counted 19 chart types to choose from, including some obscure ones.

Add drawings, comments, and images, change colors, mix resolutions, and compress and expand scales. Use data feeds to view historical and real-time data. The options are nearly limitless.

The interface is easy to use, thanks to the drag-and-drop tool. The multitude of features is convenient for traders of all stripes, from newbies to experts, even those using the most complex strategies.

Multicharts Example

Discretionary Trading

For those with nerves of steel who want to keep their trading in their hands, look for a platform enabling quick entries and exits. MultiCharts is a good tool that helps make market analysis easier and faster for decision-makers. It executes trades at the click of the mouse or with hotkeys.

Visual chart trading with MultiCharts makes intuitive manual trading more simple. Traders can place orders and change positions quickly with the Chart Trading Panel.

Even the icons are easy to understand. They make it a breeze to manage stop, limit, and stop limit orders at a glance. To route trades, multiple brokers can be selected from a drop-down list.

Other features like the screen-space-saving Compact Mode, the Trader’s Calculator, and Symbol Mapping make MultiCharts a valuable tool for discretionary traders.

As a discretionary trader, I often use the vertical ladder trading style. You won’t be disappointed with the MultiCharts interface if that’s also your style.

Automated Trading

For traders who want to make a plan and stick to it without the jitters getting in the way, offers several options for algorithmic trading.

Traders can automate their trading. The system can create and send orders directly to the broker without the trader’s intervention.

Of course, this is only if the trading strategy is scripted to execute accordingly. is compatible with multiple scripts, such as EasyLanguage and Visual Builder.

With their advanced analytics, traders can access over 250 pre-built studies and customized strategies.

Because of the simpler syntax of EasyLanguage/PowerLanguage, compared to NinjaScript, Multicharts may be easier to use for those entering the world of algorithmic trading.

Granted, NinjaTrader has a greater contributing community nowadays. But some say that the sheer number of scripts with NinjaTrader is overkill.

Multicharts Pricing Review

  1. Here’s what Multicharts costs in 2021:
  2. Free demo: 30 days.
  3. 3 months: $297 ($99 per month).
  4. 6 months: $497 ($83 per month).
  5. 1 year: $797 ($66 per month).
  6. Lifetime: $1497.

Multicharts Backtesting

MultiCharts’ tick-by-tick backtesting tool is designed with precision in mind. It considers multiple factors, including price changes and differences, liquidity, slippage, commission, currency, interest rate, initial capital, and trade size.

It also simulates OCO (One Cancel the Other order type), stop, limit, and stop limit orders.

The realistic backtesting tool helps to take a lot of the guesswork out of trading, delivering reports that enable optimization of strategies.

Traders can learn and adapt their techniques without risking money via MultiCharts’ Market Data Playback.

Managing Your Portfolio

Trading is dynamic. As such, MultiCharts affords great flexibility. Traders can send orders quickly and accurately to brokers. More than one broker, instrument, or data feed can be used simultaneously. The Order and Position Tracker provides a comprehensive trading summary.

Their Quote Manager data management system collects and stores data locally from the trader’s feeds. A third-party feature updates charts automatically.

Traders can easily import or export data even if the formatting varies. Pre-configured session templates are available for most market sectors. Also, traders can change them at the chart, exchange, and symbol levels.

Final Thoughts: MultiCharts Review

MultiCharts is an excellent trading platform, better than NinjaTrader in some areas. At the same time, the latter is also good for different reasons.

They have built a strong base among CMTs (Chartered Market Technicians), financial advisers, and professional individual traders worldwide.

Trading magazines give the company positive reviews. However, multicharts’ large following of satisfied customers speaks louder than any review from a magazine.

Frequently Asked Questions

Investors cannot purchase shares of Multicharts because the company is privately held.

MultiCharts is a great platform for traders that are looking for chart customization, numerous tools and features, precision backtesting, automatic trade execution, and custom indicators.

MultiCharts is a top-of-the-line charting platform. They have many different features, such as support for EasyLanguage, single click trading from charts and DOM, and numerous indicators and strategies.

The biggest differences between MultiCharts and MultiCharts net is the scripts and backtesting strategies. MultiCharts uses EasyLanguage as its program language. MultiCharts net is tailored for programmers that use VB.NET and C#

Denis Globa is the owner of MultiCharts.

MultiCharts competitors:

  • TradingView
  • NinjaTrader
  • TrendSpider
  • ThinkorSwim
  • JigSaw Trading

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