Advanced watch list features that every trader must have
In continuation of our previous post on creating watch lists, here you will learn some advanced features. Upon learning how to work with these, you can comfortably create many different kind of watch lists and work spaces on Fyers One.
Link to Excel – You can link the scrips on the watch lists to a spreadsheet either Microsoft Excel or Open office. In addition to that, you can customize the columns instead of having to do it on the spreadsheets. Upon doing so, click on “OK” to proceed. You will then have to run an excel sheet as an “Administrator” and click on “Paste Special” function.
You’ll have to choose Unicode Text and click on the “OK” button to proceed. It will then display the quotes from Fyers One directly onto your excel sheet where you can work on your trading strategy.
Export to Excel – There is another option to “Export to Excel”. Just click on the small white icon which displays Excel logo. As you can see above, the data will be exported to your spreadsheet and you can do whatever you want with it.
Support & Resistance – This feature shows you the support and resistance levels of the stocks in your watch list for different time frames. As you can see the highlight in the screenshot, you can choose between daily, weekly or even monthly. It adds an additional edge to your decision making in trading. For instance, if you see a support level on the daily chart at S4, and simultaneously have a support at S2 on the weekly chart, then the odds of the levels holding will be higher. There are several ways in which you can make use of this. The colour coding further makes it easy on the eyes.
As with other windows, you can export the data to excel for further analyses.
Roll Over – Finally, an easier way to analyse futures contract roll overs. In this window, you can see the real-time prices of the spot, near month and next month futures. You can also see what the spread is and how the open interest (OI) has changed in the underlying contracts. Now the best part of it is that without having to do crazy searching and math, you can get to the % of roll overs from the current month contract to the next. It helps you stay in tune with the market. This is probably one of the most important missing link that retail traders will have to fix. Using this feature, you know what the demand supply is. Usually the time and effort it takes to do these things is a turn off for most traders as they anyways limited very limited access to reliable market data. On Fyers One, you can elevate your analytical skill sets by using our inbuilt tools such as this one.
Moving Averages – By clicking on the icon displayed above, you can get the most widely used moving averages without having to add them on the chart. To make quick references, this is most helpful. As you can see, you can track the moving averages of 14, 50, 100 and 200 days without adding SMA signals on the chart. It gives you more data in different places to be able to trade more efficiently. If you make any useful observations here, you can quickly take a look at the chart to see if there are any intraday trading or positional trading opportunities. Professional traders often use the daily moving average crossovers as a setup to trade in the short-term. Now, you can take advantage of it too.
Heat Map – Upon clicking on the highlighted icon above, you can get access to this advanced heat map. It shows you the intraday movement of the stocks in the form of a map. In the example above, you can watch all the winners and losers in a graphical colour coded display. As you can see, BPCL is the largest gainer followed by Asian Paints. Likewise on the downside, Ashok Leyland is the biggest losers. Heat maps show you the balance performance of the chosen stocks. It will show you the same representation even if you choose futures and options. For example, If the watch list contained Nifty futures, Nifty options and other derivative scrips, it will be displayed here on the same principles. Another cool feature is that you can double click on any scrip and get the “Snap Quote” window. You could also use the shortcut keys to buy or sell directly from here without having to navigate back to your original watch list home screen.
Only Buyers/Sellers – The highlighted icon that looks like a shopping bag is actually a feature to display the stocks in the watch list which have only been bought or sold without any opposite positions. Usually these would have either hit the upper circuit or the lower circuit.
• Only Buyers – Shares which have only buyers and no sellers.
• Only Sellers – Shares which have only sellers and no buyers.
This is especially useful in times of high euphoria or scare in the market. If you’re watch lists contain many stocks and you want to know if any of your stocks have hit circuits, you can know by just clicking on this once. Otherwise you will have to track individual stocks which takes a long time. You can save out a lot of time and become efficient. Tools like these allows you to stay tuned with the market.
Historical returns for the month – Ever heard of the January effect? It is the presumption that stock markets will rally on the start of the new financial year in the USA. Likewise, there are many such widely held beliefs that certain periods of time are either auspicious or inauspicious to trade. Find out historically, in the particular month how has the stock performed. You can go back up to 15 years. In the above example, you can track the February performance of all the watch list stocks. Enter a stock with confidence and make your own rules. This feature gives you extensive information. You can do the number crunching and develop new trading strategies.
You can also view the data in a graphical format either in a column chart or line chart. To access this, just click on the “chart icon” displayed above in the highlight.
Customization – The level of customization available on our trading platform is very high. As you can see in the screenshot above, you can:
• Change the header fonts and colours.
• Change the cell font.
• Choose colours for each row.
• Customize the columns which you want to display
The idea is to give many features to our clients so that they can spend time doing what makes them comfortable. Arrangements can make a big difference in comfort levels when trading seriously.
Pre-Set Watch lists – This one is amazing. Saved the best for the last. Active traders always want to use the best trading platform in India. With features such as this one, you will be able to do a lot. The image above is of 4 separate screenshots which need to be explained step by step.
1. Pre-set watch lists appear on your screen. You have a wide variety of options available to choose from.
2. By clicking on Indices, you can load scips of each index listed in NSE. You can choose from Nifty 50, Bank Nifty, Nifty Midcap Index, Sector Indices, and other themed indices available on the exchange. It helps to narrow down on stocks quickly.
3. You can also choose from different sectors as mentioned, This way of categorization is similar to the sector indices but does not have the listing rules of the exchange so the sector lists have most of the stocks listed in the concerned sector instead of being mixed up. For instance, Nifty 50 has a representation of 13 sectors. So it’s not an effective way of choosing stocks if you’re looking for detailed analysis. This is where this option can be very useful to traders and investors.
4. Other groups contain Futures and options of the near, next and far month contracts. In addition, you can also choose from ETFs.
Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.