Alternative to TOS for minute scans

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Hello Peter,

I know you have said TOS will not scan faster than :06.

Can you recommend an alternative that offers TOS-like candle based price data, moving averages and “offset” lookbacks like TOS but on 1 minute timeframes?

Thank you.

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Posted by (Questions: 1, Answers: 1)
Asked on October 10, 2020 9:42 am
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You can try TradeStation. Those scans run only your local computer instead of on the server like Thinkorswim. That reduces processing speed so long as your computer has a good CPU. But it requires your computer to download all the data required to crunch the numbers in the scan. Which can be another limiting factor. Sorry but I do not have a solid recommendation. You would need to test out various trading platforms to find one that performs fast enough for you.

My main suggestion is that if you need response times under 1 min than you probably should be reevaluating your trading setups. You are in the realm of high frequency trading and expensive automated trading systems. Your competition in that environment is spending millions of dollars hiring teams of programmers to operate in those time frames. Do you really think you can compete in that environment?

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Posted by (Questions: 37, Answers: 4118)
Answered on October 10, 2020 12:09 pm
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Thanks for the answer. And good question too. We are not necessarily trading under 1 minute setups, but looking for data based on moving averages of 1 minute candles or in some cases 1 minute candle patterns. It works presently under manual trading but we're looking to automate. We have longer time frames as well.
( at October 10, 2020 12:42 pm)
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Ah, that's a good point you bring up then. Fully automated trading. Can't do this on Thinkorswim. Not natively supported. I suggest you spend some time investigating TradeStation. The following video will give you a brief overview of how their chart strategies function. They are used for back-test reporting/optimizations as well as fully automated trading systems: https://www.hahn-tech.com/tradestation-strategy-guide/
( at October 10, 2020 3:50 pm)
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