Amibroker for Indian Traders: Setup & Usage Guide
Amibroker is one of the most powerful and flexible technical analysis platforms available to retail traders — and it’s widely used by Indian traders for backtesting, strategy creation, and signal generation.
In this guide, we’ll walk you through how to set up Amibroker for the Indian stock market, the tools and plugins you’ll need, and how to use it for backtesting and trading.
What Is Amibroker?
Amibroker is a Windows-based software built for advanced charting, custom strategy coding (via AFL – Amibroker Formula Language), and high-speed backtesting.
Unlike browser-based platforms, Amibroker runs locally on your system and is best suited for:
- System traders
- Quantitative analysts
- Strategy developers
- Algo traders (with API integrations)
Why Indian Traders Use Amibroker
- Backtest strategies on NSE/BSE historical data
- Scan 100s of stocks using AFL filters
- Set custom alerts and signals
- Optimize strategies before going live
- Integrate with brokers via API (for automation)
Step-by-Step: Setting Up Amibroker for Indian Market
✅ Step 1: Download and Install Amibroker
- Visit www.amibroker.com
- Choose the 32-bit or 64-bit version based on your OS
- Install and activate with a purchased or trial license
Trial version is valid for 30 days with full features (except AFL saving).
✅ Step 2: Connect a Data Feed for NSE/BSE/MCX
Amibroker doesn’t come with built-in data. You’ll need a third-party provider.
Popular Amibroker-compatible data feed providers in India:
| Provider | Market Data | Type |
|---|---|---|
| Global Datafeeds (TrueData) | NSE, MCX | Real-time |
| NimbleData Pro | NSE, BSE | Real-time |
| Investing.com Plugin | EOD (Free) | Delayed |
| GDFL Plugin | Real-time + historical | Paid |
Once purchased, install the plugin, and it will auto-stream live data into Amibroker.
✅ Step 3: Add Stocks and Set Database
- Open Amibroker > File > New Database
- Set base time interval (1 min for intraday, EOD for swing)
- Import stock symbols or auto-import from the feed
- Save and organize watchlists (e.g., Nifty 50, Midcaps)
✅ Step 4: Use AFL for Charting and Backtesting
Amibroker’s power lies in AFL (Amibroker Formula Language).
Example: A simple EMA crossover code:
aflCopyEditSetChartOptions(0, chartShowArrows | chartShowDates);
Buy = EMA(Close, 20) > EMA(Close, 50);
Sell = EMA(Close, 20) < EMA(Close, 50);
Plot(Close, "Price", colorWhite, styleCandle);
- Paste the code into Formula Editor
- Click Apply to see signals on chart
- Use Analysis > Backtest to run backtest on your watchlist
✅ Step 5: Optimize Your Strategy
Use the Optimizer tool to test various parameters (e.g., change EMA 20 to EMA 15–30) and see which setting gives the best performance in terms of:
- Net Profit
- Max Drawdown
- Sharpe Ratio
- Win/Loss %
✅ Step 6: Deploy Alerts or Automation
- Use Exploration for scanning live opportunities
- Set alerts with sound/pop-ups for signals
- For full automation, integrate with brokers using:
- AutoTrader Web (for Zerodha, AliceBlue)
- AlgoJi bridge
- APIBridge
Pricing Overview
| Plan | Cost (One-Time) |
|---|---|
| Amibroker Standard | $279 USD (~₹23,000) |
| Amibroker Professional | $339 USD |
| Data Feed (Monthly) | ₹500 – ₹1,500 (varies by provider) |
Pros and Cons
✅ Pros:
- Extremely fast and customizable
- Institutional-grade backtesting
- Great for traders coding their own logic
- Runs locally (no browser dependency)
- Supports live + historical data
❌ Cons:
- Windows only (no Mac/Linux)
- No built-in data — requires separate feed
- Learning AFL takes time for non-coders
- No mobile app
Final Thoughts
Amibroker is not a beginner tool, but if you’re serious about strategy-driven trading in Indian markets, it’s one of the best investments you can make.
From intraday scalping systems to positional EOD strategies, Amibroker gives you full control over testing, validation, and execution.
FAQs
Is Amibroker suitable for beginners?
It has a learning curve, but beginners can start with simple AFLs and explore gradually.
Does Amibroker work for options?
It can chart options if the data provider supports options data (e.g., GDFL), but it’s better for stock/index strategies.
Can I use it for automated trading?
Yes. Amibroker supports third-party bridges for algo execution.
Is Amibroker better than TradingView?
For backtesting and strategy building, yes. For visual analysis and ease, TradingView is better.
