Tradespoon is a brand owned by a Chicago-based company Superdome LLC. The platform’s goal is to level the trading playing field for independent investors.
Superdome’s array of financial tools and services uses quantitative science to make it easy for self-directed investors to find and manage high-return trade opportunities typically available for hedge fund managers and institutional-grade analysis.
Superdome turned to Velvetech with a request to upgrade its trading platform with new essential features that would take it to the next level of trading. They also needed assistance with maintenance in terms of applying minor fixes to the existing functionality.
Trading Playing Field
Retail investment mostly relies on traditional technical analysis: simple math formulas, common deviations, and well-known statistical formulas. These formulas, when applied to elaborate real-time market data, fail to offer a truly competitive edge to investors. The stock market is extremely volatile, full of noise data and behind-the-scene relations.
Tradespoon uses artificial intelligence (AI) that is capable of ongoing self-learning and hyper-fast data processing. The system also makes use of such advanced components as Adaptive Harmonics, Statistical Spectral Analysis, and Digital Filtration.
The intelligence trading platform’s main goal is to close the gap between retail and institutional investors, equipping the former with complex quantitative and real-time predictive systems to help them make well-informed trading decisions:
- Find undervalued stocks and rank them based on the probability of a rise in value.
- Generate short- and long-term predictions for open and close prices.
- Estimate the probability of a stock closing between or outside of target lows and highs.
- Scan seasonal trends and spot optimal entry and exit points.
The Client’s Request
Superdome asked Velvetech to develop three key components for its flagship product — Tradespoon:
- Forex Forecasting Tool
- Metastock Extension
- Seasonal Charts
We also provided support for other, previously developed, parts of the solution:
- Stock Forecast Toolbox
- Portfolio Toolbox
How We Did It
Our collaboration with Superdome started in 2012. Since then, we have been happy to work on multiple features for the trading platform, making it more appealing to the target audience — self-directed investors.
Forex Forecasting Tool
Our team has developed the Forex forecast tool (FX tool) that lets the user quickly find profitable Forex trades. Using the most powerful predictive analytics available, Tradespoon can accurately pinpoint currency price trends for both daily and intra-day timeframes.
This tool identifies currency trends with a “wave” structure. Applying a series of advanced algorithms, the FX tool deciphers the trends and data to predict high probability points of where the next price move will begin.
The main features of the Forex forecasting module in Tradespoon are:
- Real-time currency pricing
- Custom historical price charts
- High-precision price forecasts
- One-click data Export
MetaStock software offers award-winning charting and analysis tools, powerful trades, and proprietary scanning, robust customization, comprehensive back-testing, and revolutionary forecasting.
Velvetech has developed an add-on for Tradespoon that works right inside the MetaStock application. The add-on integrates directly with MetaStock and provides access to Tradespoon features in the familiar MetaStock Interface.
Exclusive to MetaStock, Tradespoon’s stock forecast toolbox is the only add-on for MetaStock that lets users easily spot buy and sell signals with specific entry and exit prices.
The stock forecast toolbox will forecast stock price trends, turning points, movement vector directions, and “buy-sell” signals with stunning accuracy for both a short- and long-term investment strategy.
Another piece of functionality our team developed was a block with graphs depicting the historical performance of each stock to help forecast its future performance. The user can see how a stock has performed historically and will likely fare under different political, economic, fundamental and technical conditions. This tool helps:
- Decide which side of the market to take
- Estimate longevity of up and down trends
- Approximate tops and bottoms to set buy and sell stops
- Determine which price “blips” are indicator whipsaws that might produce trading losses
We had to work with the existing code because the initial version of Tradespoon was developed by some other team. Eventually, our engineers needed to spend more time to make themselves familiar with the project. Luckily, Superdome’s CEO is well-versed in software engineering. Vlad Karpel was able to assist our lead engineers during the discovery phase.
After examining the existing code base, our team proposed to update it to .Net Framework version 4.0, which we eventually did, with the client’s consent. That update allowed us to pick up the pace with the development of the new functionality for the product. Another benefit of the update will also streamline the support and maintenance of the product.
The new features developed by the Velvetech team equipped Superdome with an edge over competing platforms. Joined efforts of our companies resulted in Tradespoon becoming a Finalist of the Benzinga Fintech Awards.
I have been working with Velvetech since 2012. I was looking for a local development team able to produce quality financial software products, and I am very glad that I’ve met Velvetech.
We have successfully implemented and deployed to production several financial applications. It is a pleasure to work with Veltetech and its team. I would highly recommend them as a reliable software development partner.
We continue our collaboration with Superdome by enhancing trading platform’s feature set. Tradespoon excels at enabling individual investors to trade on a professional level. And Velvetech is happy to assist the company on its noble mission.
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