TC2000, designed by Worden Brothers, stands as a premium trading platform renowned for its advanced charting features. The consistent recognition by Stocks & Commodities Magazine is a testament to its advanced analytical capabilities and affordability.
Pros and Cons of TC2000
- Industry-leading charting capabilities.
- Great attention to detail by the development team.
- Superior stock scanner.
- Efficient CPU/memory usage.
- Supports only stocks; no currencies, futures, or crypto.
- Desktop-based, which may not appeal to web-app enthusiasts.
- Lacks backtesting functionality.
TC2000 Features Overview
TC2000 primarily stands out as a stock charting software. The software comes equipped with multiple powerful features, but its primary utility is its charting capabilities for stock traders.
The charts provided by TC2000 are neat, offer endless customization, and are very user-friendly. At a casual glance, these charts might resemble what other platforms provide. However, they are considerably more comprehensive.
A unique feature of TC2000’s charts is the data box located at the chart window’s top left corner. Users can click on any part of the chart and instantly view a plethora of data, from return over time to indicator values.
Additionally, TC2000 offers a “Change Symbol” screen, which auto-launches as soon as you start typing, reminiscent of TradingView.
For instance, if you have a chart of AMZN and start typing, this screen will open, allowing rapid transition to another chart. This feature might seem small, but it drastically enhances the user experience by providing convenience.
Zooming on TC2000 charts is exceptionally fluid and smooth, possibly rivaling platforms like TradingView. In the saturated market of real-time charting platforms, TC2000 focuses on the nuances that elevate a trader’s experience.
The platform prides itself on attention to detail, understanding that these seemingly minor features can significantly impact a trader’s efficiency.
Many premium charting tools boast a vast array of indicators, often overwhelming traders. However, the sheer number of indicators isn’t necessarily an advantage. The quality and utility of these indicators are paramount.
TC2000 understands this and offers not just a multitude of indicators but ones that have genuine trading utility.
The platform takes pride in providing indicators that traders would find useful rather than just stacking numbers. This review will delve deeper into some of these standout indicators to assess their true value to traders.
TC2000 Pricing Overview
1. Silver – $9.99/month
- A basic plan suitable for most traders.
- No throttling of market data speed.
- There are no drawings like trend lines and Fibonacci retracements.
● Features include:
- Trade stocks and options through TC2000 Brokerage.
- Streaming charts with 100+ indicators.
- Covers 100,000+ stocks, options, and funds.
- Real-time data feeds for stocks, indexes, news, and options.
- Practice in simulated paper trading accounts.
- Personal watchlists and built-in watchlists.
- Personal notes and favorite stocks.
- Link symbols to financial websites.
- Custom layouts.
- Access charts and watchlists on the TC2000 mobile app.
2. Gold – $29.99/month
- Includes all Silver features.
- Additions include:
- Create conditions in the EasyScan® wizard dialog.
- Show 2-second scan results.
- Combine conditions based on various criteria.
- Draw on charts: trendlines, shapes, retracements, etc.
- Sort watchlists using various metrics.
- Monitor up to 100 alerts.
- Overlay sectors, indexes, and more.
- Create custom reports.
- Write personal criteria formulas.
- Overlay data from Morningstar.
3. Platinum – $59.99/month
- Includes all Gold features.
- Additions include:
- Live EasyScan dashboard.
- Set automatic re-sort intervals on watchlists.
- Monitor real-time counts of stocks passing scans.
- Market timing indicators.
- Access watchlists instantly.
- Track market sentiment.
- Organize EasyScans.
- Monitor up to 1,000 alerts.
- Get $300 off trading fees with TC2000 brokerage.
- US stock data: $14.99/month.
- US options data: $9.99/month.
- US indices data: $9.99/month.
Overview of TC2000’s Standout Indicators
Among the myriad of indicators available, Relative Strength distinctly stands out and is a favorite for many.
Unlike other indicators based on intricate formulas derived from open, high, low, and close (OHLC) data, Relative Strength simplifies by comparing the performance of one security to another.
While many charting tools don’t feature this indicator, TC2000 not only incorporates it but does so with finesse. The convenience is further enhanced by presets of main stock indices that you can easily toggle.
Additionally, with just a simple checkbox, users can delve into Sector/Industry symbols, a task that’s cumbersome on other platforms due to the variability of industry index symbols.
A distinguishing feature of TC2000 is its ability to incorporate custom formulas. You can create formulas, like computing the ratio of volume to a 5-bar average volume multiplied by 100, and use them either as indicators or for setting alerts.
For instance, one of the indicators observes the average volume over a recent span of five price bars.
The EasyScan tool in TC2000 is lauded for its ability to enable users to define how scanned stocks are ranked based on their performance relative to another security or a set of securities.
A practical application of this could involve scanning the stocks within the Russell 2000 ETF from iShares and subsequently identifying the top-performing 10% compared to all US stocks.
The scanner offers a streamlined approach, enabling traders to sift through stocks and pinpoint those that significantly surpass market performance.
Despite entering the TC2000 review process with reservations about its scanning functions, the practicality and convenience of the scanning tools became evident. They are adept at highlighting real-time trading prospects on a daily basis.
However, EasyScan does come with a limitation: while it allows for historical condition testing, it does not offer comprehensive backtests.
This means traders can assess past scan results under previous market conditions, but they cannot evaluate the historical performance of a custom trading strategy over an extended period.
Conclusion: Is TC2000 The Best Stock Charting App
In a world inundated with charting platforms, TC2000 carves its niche. It’s not just about offering advanced features but about refining those features to optimize user experience.
The platform’s approach is clear: Focus on what traders genuinely use and need, then refine those elements to perfection.
This approach not only sets it apart but ensures that it remains a preferred choice for many traders. For those discerning about their charting platforms, TC2000 should undoubtedly be on their radar. Click here to sign up for an account.