Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

MotiveWave – The Villan arises for all the Paid Realtime Intraday feed softwares

1 min read

Yes, Finally the Villan arises for the Paid Realtime feed softwares. May be it would be a super hero among common people. Motive wave is currently a free trading/Charting software just like Ninja Trader and it is free till its Pre-Launch initiative. MotiveWave is similar to just like any charting packages like Amibroker, MetaStock..etc. with all the basic and some advance indicators like Gartley, Elliot Wave, Kaufman Adaptive moving average and many more advance indicators.

But it slightly differs from other charting package as its supports realtime intraday charting with free backfill from google/yahoo and it contains more than 3months of intraday Historical 5min/15 min data available a year of historical intraday hourly data is available. MindBlowing isn’t it? Moreover free datafeeds are available for the world stocks, indices and even forex too. What else you need at free of cost?

How to configure Motive Wave for NSE/BSE Market

Step 1: Download MotiveWave. and get registered

Step 2: One you got registered you will recieve a license file(mwave_license.txt) via mail. Save the attached file (mwave_license.txt) to your computer desktop.

Step 3: Run the setup program (mwave_setup.exe) that you downloaded in Step 1. Complete all steps in this installation wizard.

Step 4: Run the MotiveWave application by clicking on the desktop icon or from the Start Menu. On page 2 of the initialization wizard you will be asked for the license file you downloaded in Step 2.

Step 5: Pages 3 and 4 of the initialization wizard will allow you to create a workspace. While creating work space select the connection information Service as Google/Yahoo as shown below. On completion MotiveWave will start.


Step 6:
After creating the workspace the defaults intraday charts will get loaded on the screen

Step 7:
Now the chart window would be looking like this with charts on the left hand side and quotes sidebar on the right hand side

Step 8:
Right click over the top of the quote bar and select New Folder as shown below

Step 9:
Create Instrument Folder Dialog Box Apprears and Now enter NSE as the folder name and press ok as shown below. This will create a new quote bar named NSE on the right hand . Now right click on the top of the sidebar and select search for Instrument as shown below

Step 10:
Now enter the google finance symbol or the stock name to search from its database. For Nifty the google symbol is .NSEI .by entering the same on it the software retrives the symbol from the database. Now press ok so that the symbol adds to the NSE folders list.

Step 11:
Similarly you can add for any stocks as mentioned in step 10. Sample retrival of ICICI symbol is shown below

Step 12:
Now right click on the .NSEI quote bar and select Open chart Tab. One you select then the next instant the Nifty intraday chart arises along with auto backfilled data.Cool Isn’t it?

My Experience with this software is really awesome and user friendly with less jargons . Iam also to configure my Ichimoku trading system even 5-13 EMA channel trading system and also still need to explore a lot in this software package. Definitely worth a try at free of cost.

For detailed information on MotiveWave features see: http://www.motivewave.com/help/features.htm

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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73 Replies to “MotiveWave – The Villan arises for all the Paid…”

  1. Dear Rajandran,

    Thanks for New chart software, Can we possible to create nifty tap’s different time frame settings with different indicator (same like gci software what we can create different time frame setting with different indicator in one work space)…


  2. thank u sir
    its very good to use and frndly software but i want to ask u one thing how its update the data like chartnexus or not because today i hv installed but its showing the data of 15 dec 2010 how to update to 16 please reply me sir


  3. sir like this software any other software which provides the data or chart for options please let me know


  4. Dear Rajandran,

    I tried not possible to make like multi charts(one script multi timeframe with multi indicator), Can you guide me…Thanks…

  5. Although MotiveWave is a charting software for beginners, it is NO WAY compared with advanced and proffessional charting softwares like AmiBroker or MetaTrader.
    No charting software can beat either AmiBroker or MetaTrader due to their powerfull capabilities!!.

    If someone can write software which could be superior to AmiBroker/Metatrader then all proffessional traders in the world can switch to that one, I dont think that will happen in the near future!!.

  6. Dear Rajendran,

    I wonder the chart is real time? If it so, then would be of great help to all. thanks.

  7. @Jignesh

    Ninja Trader provides such type of software. Also I had data for Nifty upto 16 Dec 2010. May be for some stocks google may fail to update. Also you dont need to update any data manually…. I hope so

  8. @Channa

    Yes you are right. May be this charting software wont be superior to Amibroker/Metatrader. But definitely fulfill the basic need of indian investors as they earlier need to pay for Realtime data. But now they no need to do that. Also its fulfills the basic and necessary qualification of a Charting software package.


    I too hope…that it would be realtime. Everything will be unveiled tommorow. Waiting for that. Kindly provide your feedbacks here

  9. @Chandra

    From a charting perspective, MotiveWave is actually much more advanced than AmiBroker and MetaTrader. It fully supports many advanced trading strategies, including Elliott Wave (full support of all degrees), Gann, Gartley, and Fibonacci. However, if you’re looking to do automated trading or write your own studies, at this point, AmiBroker or MetaTrader may be a better option for you.

  10. hi
    thanx for updating us with latest softwares,
    thats y i always visit ur site. for new stuff.
    i tried this one, it works well, but will take some time to use to.
    but i wanna know that how long they will keep this free and what will the charges they will ask? when they go paid.



  11. Hi MotiveWave,
    I dont agree with the below comment

    “MotiveWave is actually much more advanced than AmiBroker and MetaTrader.”

    Hope you know the capabilities of the AmiBroker charting software. If not visit http://www.amibroker.com.

    I agree that MotiveWave is for beginners and for indian investors who are not a proffessional traders.

    If you wanted to compete with other charting softwares like AmiBroker/MetaTrader, you have to support all the powerfull features present in AmiBroker and Metatrader including the performance that could be equal to OR greater than those.

  12. Hi,

    Its great software.

    One question though in candlestick chart it’s showing 4 different colour, White (for upside) black (red for downside) but besides that sometimes in one or two candles its also showing black and purple candle.

    Any ideas of what it means.



  13. what is the standard of data @ motive , there is also problen of drawing trendline etc. any way good one with autometic backfill feature but have a scope of lot improvement

  14. @Manish : Right Click on the chart and Set the Bar color settings

    @Jitin : Need to check out for Metatrader. As of now my Broad band is not working. Just working with slow internet connection. Will Keep explore on this later

  15. Thanks for introducing a good trading software. configured Ichimoku trading system and 5-13 EMA channel trading system. working fine.

  16. hi raj sir,

    good utility with many advanced formulas and settings like gartley, wave ratios
    but it seems to me a heavy software using good cpu memory thus some times can make softwares run slow or hang
    plus i wanna know u specified in step5 to use google/yahoo datafeed
    so it backfill data and show RT data via using google or yahoo?
    as google data is more reliable than yahoo for intraday

  17. Dear Rajendran
    Thank you for introducing an excellent software where data feed is inbuilt and comes free presently. I tried it on 23rd and 24th Dec’10. It worked very well on 23rd but didn’t on 24th. The data was either absent or delayed. Moreover the data is of today(24th) but the time is of yesterday. Hours and minutes also did not match.
    Any User’s guide is available?
    Thanks once again

  18. Thank you very much sir for share this software, it’s really a gift. easy to download and install takes just 5 min. it’s obsultely realtime with google. last time i tried ninja and downloaded takes long time to instal. after that i check with trading hours it’s time delay of 15min. so i uninstall, but motivewave is 0 sec delay. thank you for service.

  19. super software thala, intraday superaga work pannuuthu.one small doubt. ithula buy sell indicator afl code form work panna vaikamudiyuma. thanks in advance. wish u happy new year & advance pongal wishes. regards. sivakumar

  20. Dear Sri Rajendran
    MotiveWave is working excellently. Thanks for introducing this charting software. The problem of time not showing IST but something else for previous day is still present.Could you please advise how to get NIFTY FUTURE and BANK NIFTY FUTURE.I am getting NIFTY and BANK NIFTY but not the futures for the same. Are there symbols for the future scrips of the indices? Thanks.

  21. thanks for the software buddy, IN Add study i only get 2 options overlays and indicators, whereas my friend get recent, overlays, general, volume based, welles wilder and much more, why is that so, is there something i have to change, pls do let me know, thanks in advance.

  22. One again iam thanking mr.rajandran to share these software.my trading system changed by motive wave. thank lots motivewave and rajandaran sir.

  23. motive wave did not update several scrips today including NSEI. Take care when trading with the help of this chart.

  24. hi rajan,
    motivewave has come out of its prelaunch service today, i was just thinking, is it possible to get data from google/yahoo even after purchasing motivewave software, do you have any tricks up your shirt, thanks

  25. @Leigh

    Your Software Rocks. My question is in paid version is it possible to tweak RSI Indicator so that it can show two lines (two different periods, say for example usual 14 period with 3 period line) in a single indicator window . In MT4 one can do that.

    @ Rajenran @ Leigh thanks for this wonderful software .

  26. dear Raj
    hi there
    a million thanks for your great help. u r too much dear!!
    u and ur blog has been a great boon for me.
    i am not quite clear why to change the original setting of ichimoku(9,26,52) to 3,12,18.
    thankx again

  27. Dear Rajandran
    again i trouble u.
    here it is– at the end of the 9th step, it appears as–
    Now right click on the top of the sidebar and select search for Instrument as shown below
    however, there is no sidebar opening in my motivewave
    Pleaaaase guide and oblige.
    thanks a million dear

  28. DEAR Rajandran
    Hi there!
    i have solved the problem after a lot of effort.
    thanks again

  29. sir,
    i want set the indicator once and keep using it for all scripts as we saved as templates. how to set in this motivewave software sir?

    thank you in advance sir

  30. Hi,

    Today it seems motivewave is not working, its not updating the nifty automatically, any issues or have they stopped providing the feed.

    Do we need to have subscription for it.


  31. i have downloaded motive wave trial version,how do i get nifty on it and which broker to select,i have selected google/yahoo is that ok

  32. The name of Nifty in motivewave has changed from .NSEI to NIFTY. Do a search for instrument once again, to see Nifty indices live. Maybe they have modified names and hence not updating

  33. hi dimak, in motivewave Intraday stochasticindicator is not working how to resolve these problem pls guide.


  34. thanks Dimak for your timely information regarding nifty and bank nifty indices.

  35. Sir, Which edition should I buy? it has Ultimate Edition Lifetime License, Professional Edition Lifetime License,
    Trade Edition Lifetime License, Analyst Edition Lifetime License.

    Please advise..

  36. Hi Sir,

    Could you plz let me know whether motivewave supports nifty futures, as am unable to find the symbol to add the same.

    Also, does DATAFEED supports nifty futures also for amibroker ?


  37. Dear Sri Rajandran,

    Good Morning. How are you? Little help required.
    Last week, I read information about MotiveWave software on your website. I downloaded the free trial version of 14days. The software is extremely good. The software is fulfilling all my requirements. Many thanks to you. Now I want to purchase Basic Analyst version of MotiveWave software. I stay in Mumbai, Bhandup. Can you please tell me how can I get the software license in India? I usually avoid paying on net.

    Waiting for your reply.
    Good Day.

    Thanks & Regards,

    1. hi sameer

      would like to know how u added nse/bse data in motive wave. when i tried with .nsei its not showing me the NSE data

  38. Is it possible to get data feed using odin or sharekhan’s trade tiger for motive wave??? if yes please do help me out, it will be a big help to me..


      1. Is this software still FREE?
        Checked link “Download MotiveWave” and lead to 14 day trial.

        Really appreciate a response.


        1. Is there FREE Real Time quote for MotiveWave?

          Just read Odin Feeder works with Ninja Trader.
          Does QuoteTracker work with Ninja Trader?

      2. @Rajendran

        Dear sir,
        i wanted to subscribe for motive wave ultimate edition. i am not able to decide at what Forex rates we are charged if we buy through NETBANKING or CREDIT CARD. can you please guide me sir.

  39. now how to do nest 2 motive wave OR how to link gdfl data to motivewave …

    i tried google data and it was super

  40. Sir,
    i m newly using motive wave.. but i didnt understand how to configure it .. how could i configure its trading hour and time zone for our indian market .. and another thing m now using google data for nse .. wish to purchase esignal .. and when i purchase esignal then how could i configure its trading hour adn time zone ? plz sir help me

    souemdra prasad dwivedy

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