MultiCharts — Professional Backtesting with PowerLanguage & Bar Magnifier

MultiCharts is a professional-grade trading platform focused on strategy backtesting, optimization, and automated trading. Its PowerLanguage is nearly identical to TradeStation’s EasyLanguage, meaning you can import most TradeStation strategies directly. The Bar Magnifier feature — using smaller-resolution data within larger bars for more accurate fill simulation — sets it apart.

Language: PowerLanguage (EasyLanguage-compatible) | Platform: Windows | Price: $66-97/mo or $797+/yr

PowerLanguage

PowerLanguage has near 1:1 compatibility with TradeStation’s EasyLanguage. Procedural language with trading-specific built-ins and .NET/C# integration for advanced use.

if Close > Average(Close, 20) then
    Buy next bar at market;
if Close < Average(Close, 20) then
    Sell next bar at market;
  • Can import most TradeStation EasyLanguage code directly
  • Built-in functions: technical indicators, order management, position sizing
  • Multi-data series (multi-instrument strategies)
  • PowerLanguage Editor with syntax highlighting, debugging, auto-complete

Difficulty: Intermediate — familiar to EasyLanguage users, steeper for newcomers.

Strategy Tester Features

  • Bar Magnifier — uses smaller-resolution data (e.g., 1-min) inside larger bars (e.g., daily) for realistic fill simulation
  • Genetic algorithm optimization for large parameter spaces
  • Exhaustive parameter sweeps
  • Walk-forward optimization built-in
  • Portfolio backtesting across multiple instruments
  • Multi-threaded optimization (all CPU cores)
  • 100+ performance metrics — Sharpe, profit factor, max drawdown, equity curve, Monte Carlo
  • Custom fitness functions
  • Commission/slippage fully configurable per-instrument
  • Timeframes: Tick, second, minute (any interval), daily, weekly, monthly, custom (range bars, Renko, etc.)
  • Reliable auto-trading execution to connected brokers

Supported Instruments

  • Stocks, Futures, Forex, Crypto (via data feeds)
  • Options (limited)
  • Any instrument available through connected data providers (IQFeed, CQG, Rithmic, Interactive Brokers, etc.)

Pricing

PlanCost
Lease$66-97/mo or $797/yr
Advanced Edition$1,440/yr (often discounted to $999/yr)
Lifetime licenseAvailable

Data feeds and broker connections sold separately. Free trial available. Check multicharts.com for current rates.

Pros

  • One of the most powerful backtesting engines available
  • EasyLanguage compatibility — huge existing code library
  • Bar Magnifier for realistic intra-bar fill simulation
  • Walk-forward optimization built-in
  • Genetic algorithm for large parameter spaces
  • Portfolio backtesting across multiple instruments
  • Connects to many data feeds and brokers
  • Detailed performance reporting (100+ metrics)
  • Reliable auto-trading execution

Cons

  • Subscription pricing ($66-97/mo + data feed costs)
  • Windows-only (no Mac/Linux/web)
  • UI looks dated compared to modern platforms
  • PowerLanguage editor lacks modern IDE features
  • Limited options backtesting
  • 64-bit version costs extra
  • Data feed costs are additional
  • Steeper learning curve than simpler platforms

Who Should Use MultiCharts?

MultiCharts is the choice for traders migrating from TradeStation who want better backtesting (Bar Magnifier, genetic optimization) with code compatibility. Also strong for futures/equities traders who need portfolio backtesting with multiple data feed options.

If you want free backtesting, use MetaTrader. For faster optimization at lower cost, consider AmiBroker. For modern UI, try TradingView. For Python flexibility, see Backtrader.

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