eSignal

Table of Contents

Useful Links

Market Screener Plus– a free eSignal’s feature that allows to search through 1000s of individual stocks.

Advanced GET Scanner – a guide that explains the features that are unique to Advanced GET Edition of the eSignal, such as dashboard, the Advanced GET Scanner, Advanced GET studies, and the Advanced GET drawing tools.

eSignal add-ons– access a list of eSignal apps and add-ons designed for every level of trader, including Fundamental Data and Market Profile.

JavaScript for EFS video – watch training video that educates viewer on programming concepts using JavaScript, the foundation language for eSignal Formula Script (EFS).

Background

Used by: Technical Analysts

 

E-Signal offers customizable charts and advanced analytical tools, including stock scanner, automated systems, market profile, advanced volume analysis, and so on. In addition to being a comprehensive charting platform, featuring hundreds of technical indicators, eSignal is also a trading platform. It can connect to more than 50 different brokers and execute trades directly from inside the platform.

Affiliations or Secondary Platforms

eSignal partners

Market Data and Software Costs

Market Data eSignal fees and margin rates are frequently discussed topics. While many reviews offer basic information, Quant Savvy provides a detailed breakdown and comparison with other trading platforms
Data Feeds Compatible
Interactive Brokers, Rithmic, Dorman Trading, Gain Capital, AMP, Global Futures etc… See full list
Desktop
"Classic" $54/month or $540/year "Signature" $176/month or $1594/year "Elite" $359/month or $3480/year
Mobile App

Available with "Signature" or "Elite" package only

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best day trading platform: esignal market data and software costs

User Interface and Technology

Charting, Indicators and Tools

Charting: E-Signal offers a wide variety of charting intervals, including time (seconds, minutes, days, years, etc.), volume, range, tick. Many charting options outside traditional candlestick and bar charts: Heiken Ashi, Bar, Candle, Point & Figure, Histogram, Line, Area, Kagi, Renko, Price Break. A technical analyst will love the pristine look of Esignal desktop with its extensive drawing tools and user-friendly navigation.

Esignal is stable, fast and has comprehensive technical tools, they even a great add on for Market Profile (which comes at extra cost). See; Esignal 12.1 In Action Video. Esignal DDE Q Link which allows you to download real-time data, however, the last update was in 2014!

Platform Reviews by Users

eSignal continues to be a mainstay analysis platform for all that I do in the markets. From alerts to great scanning the platform meets my heavy technical needs and is Integrated with my broker! I never need to leave it and can act right away on my ideas. It is worth the price as I have found that you get what you pay for typically.”

Source 2020

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best day trading platform: esignal chartingchart trading esignal

eSignal Best for Charting

eSignal purely for technical analysis and charting still ranks among the best. It is stable and smooth and charts offer flexible scaling which adjusts automatically as we scroll past data. 

Surprisingly, despite the lack of updates eSignal still looks well designed and the user interface is intuitive. It has loads of indicators and customisable features to adjust every design color, text, font for pedantic users.

eSignal is an advanced charting platform fundamentally targeting active traders technical analysis traders. If your goal is to have well-designedand , stable and smooth charts from which you can add any indicator you desire then eSignal is still a great option.

Day Trading Platform Tools, Live Trading, Research and Portfolio Risk Software

Scanners, Screeners, Watch Lists, Software tools, Alerts

eSignal Screener: Scan over 50 fundamental data fields and 25 built-in technical analysis indicators. Market Screener Plus is built-in stock scanner allows users to create their own rules. Trading View’s screener provides users a set of filters and a way to interact with each one. When it comes to making filters interact with each other, they are very limited.

Advanced GET Scanner: The Scanner searches the markets in real time for stocks poised to move. Find award-winning strategies such as Type 1 buys, XTL Breakouts or Type 2 sells in seconds. Cost: $495/Year

Market Profile: Esignal has the best market profile tool but costs $55/month as an addon. Market Profile is a unique charting tool that enables traders to observe the two-way auction process that drives all market movement—the ebb and flow of price over time — in a way that reveals patterns in herd behavior. Put another way, the Profile is simply a constantly developing bell curve which is built with Price, Time and Volume.

Placing Live Trades and Trading Technology

Trade Manager: you can trade directly from your chart and manage orders quickly with the eSignal Trade Manager. With eSignal 12 the Trade Manager was significantly improved, it has DOM display and you can add trailing stops, scaling out of positions, mulit-level stops etc. We do like that you can change all colours for every columns and cell.

Money Management Planner: This is a combination of eSignal Trade Manager and Chart trading – users can add automated money management strategies to an opened position, you can add exit strategies or stops strategies. 

Chart Trading: Conveniently place trade from the chart.

The chart trading feature does not work with eSignal OnDemand Subscription

Portfolio, Risk Management and Software Tools

eSignal Portfolio Window: This is built into the Watch List Window and you can track the current value of your investment portfolio. This is a very limited tool because you have to manually adjust the cash value of a position and from time to time you need to update the portfolio position manually to correct the number of contracts or shares or the price per share or contract – certainly not designed with clients with extensive portfolios or open positions

Research and News Feeds

Fundamentals Data: Comprehensive North American fundamental content, including a company snapshot, quarterly financials, ratios, consensus estimates, and ownership provided by Factset Research. Cost: $8/month.

eSignal News and Research: Bundled package for popular vendors $15/month

Newswire: PR Newswire has been a leading distributor of corporate, association and institutional information to the media and the financial community. PR Newswire carries full-text media releases for more than 17,000 U.S. companies.

Business Wire: Used by thousands of public relations and investor relations professionals to disseminate news releases, photos, multimedia, regulatory filings and other information. News release subjects include breaking news, earnings results, product announcements, mergers and acquisitions, public policy, legal issues, webcasts, press conference advisories and more.

IPO Calendar: The first in a series of event-driven services to be offered in the eSignal News and Research package. It displays, in calendar rather than “diary” format, Initial Public Offering information on companies going public on U.S. stock exchanges.

eSignal Platform Tools

eSignal earns 3 out of 5 stars for its day trading platform tools, live trading, research, and portfolio risk software. The platform offers a variety of scanners, screeners, watch lists, and alerts. The eSignal Screener and Advanced GET Scanner are particularly notable, though the latter costs $495 per year. Market Profile, another valuable tool, is available for $55 per month. The Trade Manager allows for direct chart trading and includes features like DOM display and multi-level stops, enhancing the trading experience.
 

However, the platform has some limitations. Chart trading is not available with the eSignal OnDemand Subscription. The eSignal Portfolio Window is basic and requires manual updates, making it less ideal for extensive portfolios. Research and news feeds, while comprehensive, come with additional costs. The fundamentals data package costs $8 per month, and a bundled news and research package costs $15 per month. Despite these limitations, AmiBroker remains a robust platform with essential tools for day traders and researchers.

Mobile App

Mobile App Rating

Apple Store Rating: 2.7 Android Rating: 2.4

Mobile Trading

Funtionality: e-Signal mobile app that provides access to user’s watch lists, chart, company information, etc.

Charting: Detailed Quotes – Quote grid with instrument type-specific configurations and the ability to customize the grid with hundreds of data points. Robust streaming interactive charts with overlays, comparison studies, and a wide variety of chart aggregations and timeframes.

It is a susbcription service a whoping $179 per month!

Mobile App Reviews

I have downloaded the software can anyone tell me where the sign up link is. They don’t appear to have added it anywhere?

Source 2018

Fake. No sign up feature. Then why for?

Source 2019

App Sucks, you can’t create a login.

Source 2020

Only gives option to sign in. No sign up. Useless.

Source 2018

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best day trading platform: esignal mobile application

 

eSignal Worst Mobile App

eSignal mobile app is rated 1 out of 5 stars. The app has poor ratings on both the Apple Store (2.7) and Android (2.4). While it offers access to watch lists, charts, and company information, its functionality is limited, and the subscription cost is high at $179 per month.

User reviews highlight significant issues, such as the inability to sign up within the app, rendering it largely unusable for new users. Reviews describe the app as fake or useless due to these fundamental flaws.

Programming Language

Language

Java Script: e-Signal uses Java Script as the basis for the scripting language named the EFS (eSignal formula scripting). EFS2, is the next evolution in eSignal Formula Script introduced with version 7.9. EFS2 functions make formula writing more macro-like and easier to code. The new EFS2 engine is backwards compatible with formulas developed prior to 7.9. Here’s a list of the new EFS2 features added to the eSignal formula development environment.

Ease of use: eSignal was never intended to be used for automated trading so this feature was added at a much later date. We would never recommend a serious automated trader use eSignal EFS to design and run their systems.

Functionality: Good for backtesting once you master it. Most users are technical analysts and no advanced programmers and they will find it limited as they cannot at least test automated trading Live/Sim

Learning Curve

Esignal forum has diminished in activity in the last two years. The platform has had very few updates in the last couple of years and we see little support in the way of webinars and documentation. EFS knowledgeBase is a resource to learn all about the EFS language. This has not been updated and is very difficult to navigate. Help guides in the EFS KnowledgeBase were last updated in 2009! – Source 

YouTube Video Channel

Esignal Youtube Channel has not been updated in the last two years! Source

 

Compatibility and Design

Java Script is commonly used so skills can transfer over. Esignal is not designed for fully automated and there is very little resources or guides on how to set this up. Currently only available with eSignal Futures Trader. Source

Speed and Performance Considerations

Javascript is relatively fast but javascript is not recommended for algo trading, due to floating point numbers. You won’t find too much that can help you in the JavaScript world for algorithmic trading

Resilience and Limitations

You can only use eSignal Futures Trader and this has limited resources and documentation. We would also not recommend using JavaScript for serious algo trading as C++ and Python or even simpler languages like Easylanguage are far superior and more widely used

User Reviews

eSignal is the best global programmable platform in my opinion. I have evaluated various platform and this is definitely the best. eSignal allows you to view any stock in the world. That alone is very rare! With the programmable interface, I now can create my own custom indicators, scanners, strategies, etc. for any global market. That makes this platform a very powerful tool.”

Source 2015

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best day trading platform: esignal javascript programming language

 

eSignal Poor Programming Platform

eSignal uses JavaScript for its scripting language, EFS (eSignal Formula Script), with EFS2 providing easier macro-like coding. Despite these updates, eSignal was not designed for automated trading, making it less suitable for serious traders. While it offers good backtesting capabilities, it falls short in live trading functionality. The learning curve is steep due to outdated resources and a declining support forum. JavaScript, although fast, is not recommended for algorithmic trading compared to languages like C++ or Python. eSignal Futures Trader, the only compatible tool, has limited resources and documentation, making it less ideal for advanced algo trading

Automated Trading and Backtesting

Backtesting

eSignal Back Test Report: backtests can be evaluated with a wealth of statistical backtests to evaluate the performance of a strategy – your typical trades analysis, periodical analysis, graphs etc..

eSignal EFS2 still does not have an EFS optimizer so you cannot optimize parameters for individual indicators. This would save time analysing new markets and certainly be useful for anyone even thinking of developing something more complex like Machine Learning programs. 

eSignal backtesting is limited to simple strategies, certainly not for anything complex. We would never recommend eSignal as a backtesting platform for a multitude of reasons: 1. EFS2 is needlessly complicated for what can be achieved. 2. No optimisation, Walk Forward Analysis, Genetic Algorithms and the list goes on and on. 3. The support for this language is very limited and the forum is pretty much dead.

Live Automated Trading

eSignal is not designed for fully automated trading, however, it is compatbile with Interactive Brokers API for live trading.

eSignal has a 3rd party charting software does not have API access to any other brokers

Trade Management and Historical Trades

Trade Manager: you can trade directly from your chart and manage orders quickly with the eSignal Trade Manager. With eSignal 12 the Trade Manager was significantly improved, it has DOM display and you can add trailing stops, scaling out of positions, multi-level stops etc. We do like that you can change all colours for every column and cell

Portfolio Testing and Trading

eSignal backtesting cannot be performed on portfolio.

Data Stability and Speed

The charts look great but take very long to load and display. It took us over 60 seconds to load daily data for futures markets looking back 10 years.

eSignal data can at times be unreliable with lag, especially in a fast market

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eSignal Poor Automated Trading Platform

Backtesting: eSignal's backtesting capabilities are limited. The lack of an EFS optimizer restricts parameter optimization for indicators, making it unsuitable for complex strategies. The EFS2 scripting language is complicated, and the platform lacks essential features like optimization, Walk Forward Analysis, and Genetic Algorithms. Support for EFS2 is minimal, and the forum is inactive.

Live Automated Trading: eSignal is compatible with Interactive Brokers API for live trading but lacks API access to other brokers. The Trade Manager allows trading directly from charts with improved features in eSignal 12. However, portfolio-level backtesting is not supported, and data stability is an issue, with charts taking a long time to load and occasional data lags

Customer Support and Learning Resources

Online, Telephone, Email and Account Services Support

We tried the live Sales chat online which could not find an operator. We tried the support live chat and again could not connect. The mobile support is non existant.

Forum and Community Support

Forum: The Forum activity has decreased considerably in the last 5 years. There is very little support for the EFS language so creating automated strategies is a difficult task.

eSignal Elite/ Advance GET provides live weekly 2-hour mentoring / Foundations of trading events. However, we found the last Past Mentoring Session archived was in November 7, 2018! There have been 3 posts in 2020 in eSignal section of the forum all with less than 5 responses – Source

Opening and Account

Not a broker

Deposits, Withdrawals Process

Esignal is not a brokerage. However, its account management platform for adding data fees, market access or selecting different products has a very poor user interface.

User Reviews

“The current employees of eSignal, now called ICE Retail Services, are the most nasty and incompetent people I’ve worked with in 20 years as a trader. Worse, they are now using their employment as a front to hide illegal and malicious activities – I am talking about hacking into their customer’s computers. The retail arm of ICE is a dangerous and vindictive organisation and you are advised not to touch their software or have anything to do with them.” Source 2019

 

“I have ESignal Advanced GET software and disappointed with both the software and the standard of service provided by Interactive Data Corporation which is the mother company.Advanced GET software is not clunky and functions quite well. But it has no outstanding benefits for me as a trader. The EW function has not been used for years as it is momentum based and really has nothing factored into it relevant to the rules and guidelines of elliott wave. What is worse is whatever has been programmed into the EW function is unknown because the Company says it is a *proprietary* indicator. Just via experience I can tell it is largely a momentum based indicator but clearly it is not a genuine indicator of RN Elliott’s theory. So they expect people to use this indicator without having an understanding of what it is monitoring in the market. So people need to ask themselves what does the software have to warrant an expensive price of $4.5K AUD. A joke really. To make matters worse the software you have paid $4.5K for cannot be used unless you pay eSignal US$60 a month ongoing. This is just a fee to acquire any data for the software but does not actually include any data as these are all add ons depending on what market or service you want. Worse still, no other data provider can be fed into Advanced GET so you are stuck with e Signal as an expensive data provider. The data is clean but you pay expensively for everything you get. The software enables good manual analysis of the market and is not clunky. A range of the generalised technical analysis indicators is provided that are useful but these indicators are common in far less expensive software programs. Specialised indicators come at an additional and expensive monthly fee.” Source 2017

eSignal Customer Support & Learning

Support Services: eSignal's customer support is lacking. Attempts to reach live Sales and support chat operators were unsuccessful, and mobile support is nonexistent. The account management interface for adding data fees or market access is poor.

Forum and Community: Forum activity has significantly declined, with minimal support for the EFS language, making automated strategy creation difficult. eSignal Elite/Advance GET offers weekly mentoring, but the latest archived session was from November 2018.

User Reviews: Users report negative experiences, citing poor customer service and high costs. One review from 2019 alleges malicious activities, while a 2017 review criticizes the high cost and limited benefits of the Advanced GET software and the dependency on eSignal's expensive data services.

eSignal Summary 2 out of 5 Stars

eSignal, once a top contender in charting software, is now facing obsolescence. In its prime, eSignal won awards for its exceptional charting capabilities, and in 2003 it was a standout among other charting packages. However, it has failed to stay relevant, especially in the realm of automated trading. The EFS and EFS2 programming languages are clunky and difficult to use, and there is no efficient method to integrate an API for fully automated trading, which eSignal was never designed for.

Charting and Indicators: despite its shortcomings, eSignal 12 still offers excellent charting and a wide range of indicators, receiving good reviews for these features. It remains a viable option for technical analysts who value its sleek design and unique features like the outstanding Market Profile.

Community and Support: the eSignal community and support are practically non-existent. Forum activity is minimal, and the YouTube channel has not been updated in years. The website information is outdated, suggesting that eSignal may be on the brink of shutting down. This lack of support and updates makes it hard for eSignal to compete in the current market.

Programming and Automation: eSignal was never intended for serious automated trading. Its programming languages are not user-friendly, and there is no straightforward way to implement automated trading strategies. For traders looking to automate their trades and use advanced coding, eSignal is not recommended.

Overall Assessment: for those seeking a long-term platform with robust automated trading capabilities, eSignal is not the right choice. Its high costs, outdated support, and lack of development in automated trading make it less appealing compared to more modern and flexible platforms. While it still serves as a good charting tool for technical analysis, the extensive cost and limited functionality do not justify its use for advanced trading needs.

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**Commodity Future and Trading Commission Futures has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures markets. Do not trade with money you cannot afford to lose. The past performance posted on quantsavvy.com is not necessarily indicative of future results. Quant Savvy provides trading algorithms based on a computerized system. All advice is impersonal and not tailored to any specific individual’s unique situation. Quant Savvy, and its principles, are not required to register with the NFA as a CTA and are publicly claiming this exemption. Information posted online or distributed through email has NOT been reviewed by any government agencies — this includes but is not limited to back-tested reports, statements and any other marketing materials. Carefully consider this prior to purchasing our algorithms. For more information on the exemption we are claiming, please visit the NFA website: http://www.nfa.futures.org/nfa-registration/cta/index.html. If you are in need of professional advice unique to your situation, please consult with a licensed broker/CTA. **DISCLAIMER: Commodity Futures Trading Commission Futures trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website or on any reports. 

The past performance of any trading system or methodology is not necessarily indicative of future results. ***All returns posted on this site and in our videos is considered Backtested Trading Performance. Backtested trading results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between backtested trading results and the actual results subsequently achieved by any particular trading program. One of the limitations of backtested trading results is that they are generally prepared with the benefit of hindsight. In addition, backtested trading does not involve financial risk, and no backtested trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of backtested performance results and all of which can adversely affect actual trading results. 

CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under — or over — compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Statements posted from our actual customers trading the algorithms (algos) include slippage and commission. Statements posted are not fully audited or verified and should be considered as customer testimonials. Individual results do vary. They are real statements from real people trading our algorithms on auto-pilot and as far as we know, do NOT include any discretionary trades. Tradelists posted on this site also include slippage and commission. All advice and/or suggestions given in Quant Savvy website are intended for running automated software in simulation mode only. Trading futures is not for everyone and does carry a high level of risk. All past performance shown is backtested data only.