If you are a trader, you know how challenging it can be to find and explore various trading opportunities in the market. There's a never-ending need to scan through tons of data in a limited time, use multiple tools from different websites or apps, and keep up with the latest news and trends everyday. Imagine if you could just cut-to-the-chase. That's exactly what we've tried to do with our latest product.
Introducing Discover!
Discover is a gateway to identify trading opportunities in India. It helps you separate wheat from the schaff and also serves up the latest trends, global market and Indian stock market among other use cases. We've designed 'Discover' in such a way that it is useful to active traders as well as beginners with an inclination to learn quickly and become a competent trader or DIY investor.
It helps identify trends across timeframes and thus is useful for intraday, swing, or positional traders. Discover incorporates the market sentiment around the world by simplifying it down to a simple Bullish, bearish or Neutral indicator.
Read on to learn the key features of 'Discover' and how it can help you identify a world of trading opportunities and optimizing your time as a trader:.
Probable Trend Feature.
It helps traders gauge the probable trend (Bullish/Neutral/Bearish) to make informed trading decisions. The probable trend feature displays the market trends based on price action, volume, volatility, and sentiment. Before entering or exiting any trade, you can use this feature to understand the overall market direction and sentiment. It not only covers Indian market trends but it also takes the global market sentiment into account.The 'Probable Trend' feature is available on the home page of Discover.
Global and Indian Market View
The cues drawn from the global markets, predominantly the US market, help a trader anticipate the trends and movements in the Indian market. For instance, if the US market rises or falls sharply due to policy changes, geopolitical tensions, or economic data, the Indian market may also experience a similar trend in the next trading session. Like they say in the context of financial markets, if the US sneezes, the world catches a cold So, a trader must be tuned in to understand the daily nitty gritty of the global and Indian markets.
Discover enables you to stay informed about both international and domestic markets. You can seamlessly switch between Global Market View and Indian Market View to get a snapshot of the major domestic or international indices and their performance across different regions. By viewing the indices, traders can understand how the market moves and which sectors are outperforming or underperforming.
For instance, if you expand the global market tab, then you can check out the Asian market, American market, Australian market, and European market indices. You can also view each index's percentage and absolute change in real-time.
Real-time News
Discover also keeps you updated with market news through the Related News section. You can choose to view only Breaking news with a simple toggle. Also, the news gets filtered via Related News Settings. Here you can select a broad market to obtain information regarding the economy, market, commentaries, and data points. Further, you can also choose Debt and equity to track the significant updates specific to debt and equity markets. Last but not the least, you can also select a commodity tab to get price updates and news across the commodity market. This is mention-worthy as most traders are so attuned to equities that they fail to look at what's happening across other lucrative asset classes such as commodities.
Market Exploration
With Discover, you can explore various market opportunities using screeners based on Price and Volume, Candlesticks, Options and Futures, and Technicals. These screeners help you filter stocks based on multiple criteria, such as price movement, volume change, candlestick patterns, technical indicators, option chain data, and futures data. For instance, you select Bullish and candlestick screeners. All the stocks under Dragonfly Doji, Hammer, Inverted Hammer, and White Marubozu will get highlighted. Based on this information, traders can identify potential opportunities to buy stocks that are likely to increase in price.
Screener Classification
In Discover, the screeners are classified based on different trading styles, such as Intraday, Swing, and Long-term. Further, you can classify these categories based on trend, instrument type, screeners, and expiry (for F&O).
Depending on your trading horizon and risk appetite, you can explore and shortlist the scrips, you wish to trade. For example, if you are an intraday trader looking for stocks that have shown strong bullish momentum, you can set the conditions as Bullish, and Candlestick as displayed in the GIF below:
Upon narrowing down on your desired stock, hover the mouse pointer, you will get stocks with six options of Charts, watchlist, basket order, options chain, market depth, and Buy option. Clicking on any option redirects to the FYERS Web platform. It saves time and enhances the trading experience.
Customizable Data Points
Discover also provides an option to customize and view your data points in a user-friendly interface. You can view various data points of the screened results by adding custom columns through the 'Customize' button on every screener's page. You can also sort and search the screened results by any column. For example, if you want to view only the Options Greek columns, you can toggle Delta, Gamma, Rho, Theta and Vega as shown below:
Quick View for Index and Funds
Discover also offers a quick view of indices and funds. It shows you the basic information about the indices, such as their current price, percentage change, and absolute change. You can also open charts of Nifty and Nifty Bank by clicking on the arrow shown.
Similarly, you can check out your total funds and available funds at the top, and also add funds using the option 'Add' to your trading account.
Conclusion
FYERS Discover is a step in a new direction to help traders find unique trading opportunities. We've done this by providing what we think is useful data to configure your preferences and identify profitable trades. Our integrated approach to building Discover offers a comprehensive range of features to help you find your edge. Features such as 'Probable Trend' provide valuable insights into the market direction, bolstering informed decision-making.
If this intrigues you, take a step further and open an account with us for immediate access to our platforms. Currently, there over 5 Lakh customers trading on FYERS. If you already have an account with us and enjoy your experience, do consider helping us grow by referring your friends here.
Happy Discovering!