Before the newest release of HGSI (version 8), HGSI accessed its data from Quotes Plus. Subscribers to HGSI therefore had a local Quotes Plus database installed and available on their hard drive. Other stock trading applications were able to read the Quotes Plus database by virtue of the public API (Application programming Interface) which was part of the Quotes Plus installation. There was a data connection also from EdgeRater to Quotes Plus called the Quotes Plus data provider. This allowed every EdgeRater user who was also an HGSI user to utilize their locally installed stock price database.
Advantages of local data
Having a stock price database installed on your local hard drive means that you no longer have to make slow internet requests to retrieve data. It’s a great solution when you are doing a lot of stock chart analysis because you can quickly flick through hundreds of charts without the dreaded internet wait.
Problems with Quotes Plus
The problem with Quotes Plus was that the data required a lot of cleaning and it wasn’t always done in a timely manner, resulting in frustration for Quotes Plus users.
When HGSI version 8 was released late last year it no longer used Quotes Plus and instead provided its own data in order to ensure quality and reliability. HGSI v8 users still have a locally installed database but it doesn’t have an API built around it and is therefore not directly useable by other applications. The solution for this is to use the built in HGSI function of exporting the data to the widely recognized MetaStock format and then using the MetaStock functions in the other trading applications to read that data.
While this is a recognized way to achieve the data transfer it takes a little longer to set up and also extends the data update time each evening because it has to update the MetaStock files in addition to the local database. Also on a regular basis users have to do a complete re-export to MetaStock to account for any additions or deletions to the set of symbols.
The HGSI Data Provider
EdgeRater v5 now has an HGSI data provider which allows access to the stock price data without having to go through a MetaStock export/Import. All users of EdgeRater and HGSI can now choose to set the default data provider in EdgeRater to ‘HGSI’. Having done that the HGSI MetaStock update process can be removed to save time during an update.
This provider is available from version 188.8.131.52 onwards.
Users will only see the HGSI data provider if they have HGSI installed on their machine. To get a free trial of HGSI please visit High Growth Stock Investor.
CEO, EdgeRater LLC