Wealth Lab is a technical analysis software as well as an electronic trading platform owned by Fidelity Investments. The client runs on Microsoft Windows .NET Framework v4.0 and requires internet access to function properly. Licensed users can program and backtest trading strategies for stocks and futures. Fidelity premium account holders can use the platform to place trades produced by their trading strategies directly to their brokerage accounts and even setup auto-trading systems.
Wealth-Lab Software Introduction
Wealth-Lab has an integrated programming environment based on C# syntax with added versatility derived from using its own pascal-like programming language, Wealthscript. Although it is geared toward programmers, it has a drag & drop feature that allows non-programmers to create their own trading strategies based on technical analysis without the necessity to edit or even view any source code. This ability to custom build trading strategies by dragging & dropping basic entry and exit modes and their indicators, not only allows non-programmers to create and use strategy scripts, it expedites the process of programming for both experienced and novice developers.
Wealth-Lab requires Market data in order to perform the majority of its operations. In its standard installation, several market data sources are provided such as Yahoo! Finance´s free End Of Day data. Users can also lease real-time market data from reputable sources such as Commodity System Inc.
Displaying the market data in meaningful ways, i.e. charting, is one of the user´s primary activity. Wealth-Lab displays market data in all the typical formats, namely, candlesticks, line, and OHLC; and even the non-typical formats such as kagi chart, Renko, equicandle to name a few. It also allows users to simply drag & drop one or more indicators, from its vast library, right onto a chart subsequently creating panels and annotations for each indicator. In addition to standard technical analysis indicators, users will also find a substantial amount of fundamental analysis indicators to apply to their charts.
Backtesting strategies is at the heart of Wealth-Lab. User can either "Explore & Backtest" or "Build & Backtest". ´Build´ refers to the drag & drop method of strategy creation where as ´Explore´ refers to prebuilt strategies that are pre-installed or can be downloaded from the support website, Wealth-Lab.com managed by WL Systems, Inc.. The advantage of the prebuilt strategies is the ability to optimize the parameters. The installation comes with two optimization methods: exhaustive or Monte Carlo which uses a unique method of employing random numbers to create simulations. There are many more Wealth-Lab optimizers that can be installed from Wealth-Lab´s extension manager.
Developers can also program and share their own indicators, optimizers and strategy scripts, and it has been this open platform philosophy that has contributed to the establishment of a supportive developer´s community.
Wealth-Lab Client Availability
The version of the software known as Wealth-Lab Pro is only available to Fidelity premium account holders in the USA. Consumers outside of the USA (and Canada) can obtain a version of the software known as Wealth-Lab Developer via the support website. The difference between the two versions resides in their use of market data streams, custom software extensions, and technical support.
Wealthlab was freely available for purchase by US and Canadian residents from Wealthlab, Inc. up until Fidelity bought the rights to use it on their web site for their account holders. After that, US and Canadian residents have been permanently banned from purchasing the software.
Wealth-Lab Technical Support
Technical support is given to Wealth-Lab Pro users via Fidelity phone support. Wealth-Lab Developer´s technical support is provide through the support website. Additionally all Wealth-Lab software users can get supplemental help designing and debugging their strategies via the developers community which is accessible via the forums and wiki found on the support website.
Past Versions Highlights
Versions previous to 6.0 were freely available for purchase to US and Canadian citizens up until Fidelity bought the rights from Wealthlab, Inc.
Starting with Version 6.0, Wealthlab is only available to US and Canadian citizens if they open an account with Fidelity.
Wealth-Lab Version 6.0
Included native integration of legacy add-on product, Index-Lab, 64-bit compatibility, and a "Multi-Condition" rules dimension.
Wealth-Lab Version 6.1
Primarily a maintenance release with minor enhancements and behind-the-scenes improvements (API and other transparent changes).
Wealth-Lab Version 6.2
Combination Strategies and Regular Expressions for the Symbol Info Manager.
Wealth-Lab Version 6.3
Prepared for Wealth-Lab Pro streaming provider integration for the Strategy Monitor tool
Wealth-Lab Version 6.4
Completed Wealth-Lab Pro streaming provider integration with the Fidelity back end data center to feed the Strategy Monitor for much more responsive and reliable intraday operations. Also provided the ability to save strategies on a network drive.
Wealth-Lab Version 6.5
Introduced the WealthSignals Trader tool, which downloads trading signals from Wealth-Lab.com's WealthSignals service to your Wealth-Lab desktop client. This version is built on the .NET 4.0 framework.
Wealth-Lab Version 6.6
Released in late November 2013, added an integrated tool for Walk-Forward Optimization backtest and analysis. 
- Keener, Rob (1 December 2005), Wealth-Lab Pro (Software Review), Futures (Cedar Falls, Iowa) (Futures Magazine Group): 58–59
- WealthScript is a class library of charting and trading functions https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/WLP_Programming_Guide.pdf
- Altucher, James (2004), Trade Like a Hedge Fun, 20 Successful Uncorrelated Strategies & Techniques to Winning Profits, John Wiley & Sons, p. Xii, ISBN 0-471-48485-7
- Peterson, Dennis. "Wealth-Lab Pro", Stocks & Commodities (June 2012), Vol:30:6, p.56-59
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- Altucher, James (2004), Trade Like a Hedge Fun, 20 Successful Uncorrelated Strategies & Techniques to Winning Profits, John Wiley & Sons, Inc., p. Xii, ISBN 0-471-48485-7