Motivewave vs Sierra Chart 2023: An in-depth comparison

Jeremy Biberdorf
By: Jeremy Biberdorf
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In today’s fast-paced financial world, traders require advanced and user-friendly tools to analyze the markets and execute their strategies. Motivewave and Sierra Chart are two popular trading platforms that offer essential features, such as charting, technical analysis, and algorithmic trading.

In this Motivewave vs Sierra Chart review, we’ll compare these platforms, evaluating their strengths and weaknesses concerning three key factors: ease of use, functionality, and pricing. By the end of this review, you’ll have a clear understanding of each platform and be able to determine which is the better fit for your trading goals.

MotiveWave is Better for:Sierra Chart is Better for:
Customizable ChartingCustomizable Charting and Indicators
Advanced Technical AnalysisAdvanced Technical Analysis Tools
In-Depth Cryptocurrency AnalysisFutures and Options Trading

When choosing between Motivewave and Sierra Chart, it’s essential to understand their unique features and tools. While both platforms provide in-depth market analysis, your trading style and objectives may make one platform more suitable for you than the other.

Motivewave Sierra Chart
Service Type Trading platform with advanced charting, technical analysis, and order execution Trading platform with advanced charting, technical analysis, and order execution
Fees Varies based on subscription level, starting at $99.95/month or $1,199.50/year Varies based on subscription level, starting at $24.95/month or $267/year
Customer Support Email and phone support for all members Email and phone support
Best Use Traders who need a comprehensive trading platform with advanced tools for all markets Traders who need advanced charting and technical analysis tools for futures and options trading
Current Promotion

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Modest Money Overall Rating
4.5 rating based on 5 ratings
4.0 rating based on 5 ratings

Factor 1: Ease of Use

Motivewave: Intuitive Interface and Customization

  • Sierra Chart: Powerful Features with a Learning Curve


Motivewave is known for its user-friendly interface and extensive customization options, making it easy for traders to create their ideal trading environment. The platform offers a wide range of charting styles, technical indicators, and drawing tools, allowing users to analyze the markets and identify potential trading opportunities quickly. Additionally, Motivewave’s drag-and-drop functionality enables users to create custom workspaces, allowing for efficient organization and navigation.

Sierra Chart

Sierra Chart is a robust trading platform that offers a plethora of advanced features and tools. However, its interface may not be as intuitive as Motivewave’s, particularly for beginner traders. While Sierra Chart’s powerful functionality is attractive to experienced traders, newcomers may find the platform challenging to navigate at first. With time and practice, users can take full advantage of Sierra Chart’s capabilities, but the initial learning curve may be steeper compared to Motivewave.

Factor 2: Functionality

Motivewave: Comprehensive Technical Analysis and Algorithmic Trading

  • Sierra Chart: Advanced Charting and Custom Studies


Motivewave offers a comprehensive suite of technical analysis tools, including over 270 built-in studies and indicators. Users can also create custom studies and alerts using the platform’s proprietary scripting language, MotiveWave SDK. The platform supports various chart types, including bar, candlestick, line, and point & figure charts, catering to the diverse preferences of traders.

One of Motivewave’s standout features is its algorithmic trading capabilities. Users can design, test, and deploy automated trading strategies using the platform’s advanced backtesting and optimization tools. This functionality allows traders to fine-tune their strategies and implement them with precision and speed.

Sierra Chart

Sierra Chart offers a wide range of advanced charting and analysis tools, including support for various chart types, such as Renko, Kagi, and Heikin Ashi charts. The platform also provides access to over 300 technical studies and indicators, with the option to create custom studies using the Sierra Chart Advanced Custom Study Interface and Language (ACSIL).

While Sierra Chart does offer basic support for algorithmic trading, it may not be as comprehensive as Motivewave’s offering. Users can create custom trading algorithms using ACSIL, but the platform’s backtesting and optimization tools may not be as robust as those offered by Motivewave.

Factor 3: Pricing

Motivewave: Flexible Licensing Options

  • Motivewave: Licensing plans provide lifetime access
  • Sierra Chart: Affordable Subscription Model


Motivewave offers various licensing options, including lease and lifetime license plans. The platform’s pricing structure is divided into four editions: Basic, Standard, Professional, and Ultimate. The Basic edition starts at $270 for a one-year lease, while the Ultimate edition, which includes all features and tools, is priced at $2,995 for a lifetime license. This flexible pricing structure allows traders to choose the plan that best fits their needs and budget.

Sierra Chart

Sierra Chart offers a more straightforward subscription-based pricing model, with plans starting at $24 per month for the basic package. Additional packages with more advanced features are available at higher price points. While Sierra Chart’s pricing is generally more affordable than Motivewave’s, the platform does not offer lifetime licensing options. This means that users are required to maintain a subscription to continue using the platform.

Motivewave vs Sierra Chart: Our Summary

When comparing Motivewave and Sierra Chart, both platforms have unique strengths that cater to different trading styles.

Motivewave is an excellent choice for traders seeking an intuitive platform with comprehensive technical analysis and algorithmic trading capabilities. The platform’s user-friendly interface, extensive customization options, and powerful functionality make it ideal for traders of all experience levels. Additionally, the flexible licensing options allow users to choose the plan that best aligns with their needs and budget.

You can get started with Motivewave by clicking here.

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Sierra Chart, on the other hand, is a robust trading platform that offers advanced charting and custom studies. While its interface may not be as intuitive as Motivewave’s, the platform’s powerful features make it an attractive option for experienced traders. The affordable subscription pricing makes Sierra Chart a budget-friendly choice for users seeking advanced functionality without a significant upfront investment.

Ultimately, the choice between Motivewave and Sierra Chart will depend on your trading style and objectives. In our comparison, Motivewave emerges as the winner due to its intuitive interface, comprehensive feature set, and flexible licensing options.

Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. After working many years in the website marketing industry, he decided to take on blogging full time and also get his finances headed in the right direction. Also check out his contributions to and Benzinga.