MotiveWave Software Reviews 154

I have been using Motivewave for 8 years. I came from another product that I thought was extensive in features. This was before I started using Motivewave. I have researched many different products and there is nothing else out there like Motivewave. The developers are easy to work with. The support staff is nice, knowledgeable, and responsive. The product is feature-rich and evolves with frequent updates. I couldn't ask for a better charting/analysis platform.

Overall a great charting platform. However, my main issues are:
1. Does not always update with my Futures current pricing on IB. Its ends up being the previous day's close price. This causes me to have to make adjustments which are becoming more frequent and are a pain to have to deal with.
2. You have no api for tastyworks.com.
3. It chews up a lot of RAM which slows down order entry/exits.
4. Would prefer lower annual support costs as I'm retired.

Outstanding.

Just wished optimization would work with limit/stop orders and multiple time frames

I have been trading for over 7 years (full-time). I mainly use the MotiveWave DOM, Footprint, TPO, Volume Profiling, and Elliott wave components. I find the the tools to be intuitive to use and at the same time very sophisticated. MotiveWave order execution tools are great and can be trusted! The support is also very good. MotiveWave will give you an edge in the market!

I had a problem connecting to Motivewave. After trying different things it came down to realizing the wifi was blocking Motivewave. The Motivewave people were helpful and accessible.

When I am giving 4 star, three stars are for Motivewave's certain outstanding features and one star is in anticipation that they will (a) simplify big list of symbol addition and mapping
(b) extend hidden order feature of IB.
(c) ensure inclusion of almost every indicator like Sierra Chart/Tradingview or availability of huge library of codes in the open sources (as in case of amibroker) will happen over time.
Though I have life time license and love to use Motivewave, Iam still using amibroker for lack of these features (especially hidden order feature).

I would love to give 5 star today, eventogh they have not fulfilled feature requests for these small jobs for last three years. Whereas these features are naturally taken care by all of Motivewave's competitors. One may like to appreciate that "basics deserve priority over a new indicator".

Motivewave design is intuitive and perfectly ergonomical for traders. It offers best Elliott wave analysis tool. Esignal does it at unreasonably very high premium. Most important... the features are getting added in Motivewave at the fastest pace.

This is hands down the best software there is.

I have tried Tradestation, Ninja, Tradovate, ToS, Metastock and this is head and shoulders above the rest.

I believe because they are not a broker, but just a software company this allows them to concentrate on what is important. All the other companies software is just added bonus for being a client.

My only wish is that I had found them a long time ago!

BTW - Support is excellent as well. Very friendly, knowledgeable and willing to take suggestions for improvement on the platform.

I purchased Motivewave Ultimate specifically to use its OFA AlgoX automated trading feature. I like the program overall but can not give it a good rating because the automatically generated orders do not work with TD Ameritrade even though Motivewave lists them as one of the supported brokers.

Tech support blames the problem on TD Ameritrade's API and tells me there are currently no plans to fix the problem so that all of the program's features will work with TD Ameritrade accounts.

This is a pretty expensive program (Ultimate edition) to not work as intended and described. If they ever do make it truly compatible with TD Ameritrade, I will have to spend another $295 for that update just to get the program to do what I bought it for, to begin with. That doesn't seem fair.

I recommend the platform to my knowledge.

Satisfied with the functionalities, ergonomics and operation.

Very good value for money. I am surprised that the platform is not better known.

I started using Motivewave in 2011. I would describe it as a high ended luxury car equipped with many, many fancy toys that exploring them all is a big challenge.
I paid a top price for an Ultimate Platform because I need the advanced Fibonacci and scanner. I found that most of the features may be very useful for the other traders. However, for my everyday trading, I mainly use Elliott Wave and Fibonacci, plus a few common indicators only, so those fancy features become a waste.
The scanner is pretty good for Harmonic Patterns, but IMO, not for Elliott Wave Patterns. It can be disastrous for someone who has limited Elliott Wave knowledge and fully relies on the scan results.
I have not updated my version for many years and still waiting for the Candlestick Pattern Scanner to be added. So I can't comment on any new features that I don't have. The only complaint I have on my version is I am unable to have a default setting for all my drawing tools, like lines and pitchfork, etc. Hopefully, in my next update, this will not become an issue.
Overall, if you can afford the price, Motivewave is a user friendly and high quality charting tool for serious traders. Another thing worth mentioning is the stability of their server. I have never experienced any connection problems at all.

There are a lot of options out there but what makes Motivewave really stand out is the seamless integration from PC to Mac. With cloud support, I can open the platform on any PC or Mac and everything is there as I left it. Love it, very customizable to the way I like it and seamless integration with my broker makes it a true winner.

motive wave is ok but requires annual updates that you have to pay to use the program at all-meaning you will be paying annually for MW, also it runs a little slow compared to other system I have so I don't use..

Thank you for clarification on updates. When I inquired before I was told that to use some of the recent templates from a 3rd party I would need to update, so MW would not work for me. I don't think the program is bad, I know some swear by it, it just does not fit my needs.

Motive Wave is the fourth charting software that I have used over the past 20 years to perform my professional duties as a technical analyst. I hated leaving the 2nd platform for the 3rd, but after a year did not want to go back. I reluctantly shifted from the 3rd to Motive Wave about a year ago when my established vendor had data problems. The transition was challenging because the way Motive Wave works is unlike other software platforms and there is a lot to learn to develop mastery of its features and options. I learned what I needed quickly, however, and would not go back to any of the software I used before. I miss how easy it was for me to customize technical studies in my previous platform, but the speed with which I can review, analyze, and manage large numbers of charts in Motive Wave makes up for reduced customization options.

MotiveWave is full of annoying bugs, I've mentioned many to support, but they solved none...

Motive wave is to the footprint chat what jigsaw is for the dom. The options and visual cues available for the footprint from motivewave make it the go to platform for anyone who trades using a footprint chart. With constant updates, you can see the reinvestment MW is making in themselves by staying focused on improving what they are good at and providing more options to assist traders.

I wanted to purchase an upgrade that was on special. I sent two, separate, e-mail messages asking to know whether it would extend my current update, date of expiry to September of 2022. I never received an answer to my question.
A simple yes or no would have sufficed but what I did receive was a reminder that the time to buy the discounted upgrade was due to expire. If someone asks you if it is raining outside, don't tell them that there are clouds in the sky.
Perhaps MotiveWave's lack of response could be indicative of their future style of customer support and ultimately, their platform.

This is easily the #1 trading platform. It is packed to the gills with over 300+ indicators and dozens of automated strategies out of box. They also include Java source code. It is also the only major platform that runs on Linux let alone with true cryptocurrency spot exchange support. Awesome platform to use.

The best technical analysis and trading tool I have ever worked with , I particularly like that you can create custom indicators using Java