ProRealtime Vs MT4 Vs Others
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For me the best argument for PRT was, it’s running on unix systems without a glitch! (No arguments, getting MT4/5 perfectly running as on MS operating system is not possible despite of all those “oh, you just have to …”)
With regard to coding PRT is easier to learn – but also more forgiving in the way you write code, which might result in real bad coding habbits. I find debugging is more complex in MT. And yes, Nicolas is right, MT5 coding for newbies is not only walking up a hill, it’s barefoot climbing a mountain in winter!
Yes, PRT is offering more extra features, for me a bit too much at the same time, meaning it would be better to get one perfectly working first before adding another one; and as long as I cannot use it for CFD trading with different brokers, I have to live with the demo version for now (and hope that’s going to change some day).
In all, I like PRT a bit more from its whole Look&Feel, but I am forced to go with MT – and got at least some sandals for climbing 😉
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I’ve been using TradingView extensively for years, and PRT recently, so here is my comparison.
TradingView has an abundance of data feeds, and subscribing to real time data is very cheap. $2 for NYSE, ARCA, NASDAQ, etc. Real time data seems to match Interactive Brokers’ feeds exactly. TradingView has almost all Crypto Exchange data and International indexes like SHCOMP, and Forex.
TradingView is HTML based and runs in your browser. This is both its strength and its weakness. Strength as in I can run it on any device; Linux, mobile, tablet, and I get the same facilities and features. Weakness, as in working in a browser window is just clunky.
TradingView customer service has been flawless, as has PRT.
What immediately struck me about PRT is how beautiful it is, and the attention to detail that has gone into the UI. I’m both a developer and a photographer, and I appreciate aesthetics and attention to detail. For example, the way charts will expand up or down depending on whether I drag from the top or bottom of the window. If I have a dialog box open, the changes I make appear on the chart immediately and I don’t need to click OK first. Multi-monitor works, and the window arrange feature is spot-on. The stock alert sounds are reasonable (if you’ve every listened to an eSignal alert you’ll know what I mean!).
PRT has retained alert-by-SMS, which is great. TV used to have that, but they dropped it in favour of push to their mobile app, which I do not like and do not trust. TV also have a push API which is an advantage. I’m not sure if push alerts can be coded with PRT (I haven’t tried)?
But most importantly, I find the candles respond faster and more frequently in PRT than they do on Interactive Brokers TWS or TradingView. I don’t know if that is because I’m in the UK, and my experience would be different in the US. But I scalp the 1m chart, so I need fast candle updates, and PRT provides that. PRT also seems to update faster than Charles Schwab (Reuters data) and eSignal.
I haven’t used the coding or backtesting features on either platform as I write my own code in Python, and use TickData for backtesting or link directly to IB via TWS API for automated trading.
I subscribe to both TV and PRT. PRT is my primary Windows Desktop charting software for the assets I trade, and TV for referencing assets I don’t trade and viewing on mobile devices.
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