How To Build A Market Monitor On Tradingview?

It's very easy! This video will give you a quick overview of how to build one in no time at all.
Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
how to build a market monitor on trading view
Follow me
Latest posts by Arno Venter (see all)

Tradingview Market Monitor

Just a quick question here from Mark saying that he is new to trading view. And he just wants us to run through how we can set up some tabs to have the same type of market monitor that we do. That we use on a daily basis.

RELATED AND RECOMMENDED READING:

How To Setup A Cross Asset Volatility Chart In Tradingview?

What Equities, Commodities & Bonds To Monitor For Risk Sentiment?

Currency Relative Performance Monitor In Xenith

How To Build An Intermarket Monitor In Metastock Xenith?

So the first one that we have Mark, is called, we just called it the Forex Majors. And what this basically is, is just the US Dollar index right in the corner and then we have the seven major currency pairs, are the Aussie, the Euro, the Pound, the Kiwi, the CAD, the Swissy, as well as the Yen. So that one should be fairly straightforward to set up.

The other ones that we have is the commodity one. So going over to the commodity majors, of course gold will always be an important one. We’ve added in silver and platinum just to get an overall theme in view of the metal complex. But you can substitute silver and platinum for maybe be something like the CRB Index or maybe even something like the Bloomberg Commodity Index.

The reason why I went with silver and platinum is because they run throughout the session. Of course, the CRB Index and the Bloomberg index will only run during New York trading hours. But you can substitute these two for any other commodities that you want to watch. And then of course, the other important ones would be WTI, Brent Crude and of course copper on the commodity side.

Then turning to equities, you can really play around with what you wanna see here. I’ve basically set this up to have a view of the equity futures obviously, because they run throughout the day. So over here I have the E-mini, the S&P 500 E-mini. Set up the equity future, also the Dow Future, the NASDAQ 100 Futures, the DAX Futures the Euro Stoxx 50 Futures, ASX. Now the one from OANDA is called AU200, AUD. So just write that code.

And then obviously for the Nikkei, it’s called JP225 USD. So that’ll be all the futures markets. Now you can of course use the cash ones as well, like the actual S&P 500 cash index. But of course, that will only run through the New York trading sessions.

So just keep that in mind and then right at the bottom another important one, of course to always have a look at is the volatility, the overall equity volatility. So we have the VIX up there, the one that we use is called, it’s just VIX. And I think this is the one from TVC if I’m, yeah, there we go from TVC.

So just an overview of the overall equity markets from a global perspective. And then going on to bonds, we also have a view of most of the major government bonds. So we have the US 10-Year, the bond 10-Year, Canada and New Zealand, Japan, UK and Aussie 10 years. And then right here in the bottom, we actually have the BTP bond spreads, that’s basically Italian bonds versus German bonds. And the way that you get that you’ll see it’s actually, you actually need to subtract the bond from the BTP 10 years. So the way that you do that is you basically, if you just open up a chart, and you want to add that, let’s, lemme just quickly show you how we do that.

Let’s just add one on top of this to show you. Basically you just gonna type out the code. And so it’s gonna be IT 10Y minus DE 10Y and that’ll actually give you the spread. So this is the spread between the two of them. You’ll see that obviously overlaid on top of that. That’ll just give you the spread. And you can play around with the spreads. You can even have the bond spreads of any one of the major economies against each other. It doesn’t need to be this one.

Of course, this one is important for us, from a Euro point of view, and only a good measure of the overall risk premium. And of course, a good gauge to have on your chart. And then apart from that you can also play around with some other setups so we obviously have to look at the majors, the commodities, the equities, as well as the bonds. But then you can play around.

We also have a volatility or cross asset volatility, setup that we’ve built. So if I just quickly remove the S&P 500 overlay, you can see over here you have the VIX, but you can also add in things like the OVX which is the volatility for oil or GVX, volatility for gold. You also have the EU, JY and BP VIXes, which is basically the Euro the Yen and the Pound. And we’ve basically added them together to get an overall basic volatility view of the currencies. Then we also have TYVIX, tracking bond volatility then you also have HYG, high yield credit volatility and then you also have VXEEM, which basically tracks emerging market volatility. So you can add that as well just as an add on. And apart from that, that’s really all that you need to have for an overall market monitor.

You can play around and do other things. For example, we’ve set up this one as well which is called our, just opened up that one. It’s this one here. It’s called just the risk sensitive pay. So here we basically have the Aussie versus the Swiss and the Yen, the Kiwi versus the Swiss and the Yen. And the CAD versus the Swiss and the Yen. So the more traditional risk sensitive currency pairs.

So whenever there’s big moves and risk on and risk off, this is obviously gonna be a great monitor just to have up on the chart as well. So that’s also one that you can build. And I mean, you can play around with it. You can build, something that I’m busy with right now is building an overview of each one of the currencies itself.

So if we have a look at the CAD pays, you can see what I’m busy with there. And you can obviously build this out for each one of the majors if you want to. This is a quick view of the Canadian dollar as a whole across the other majors. So here we have the CAD versus the Aussie, the CAD versus the Kiwi. And just take note that it’s not Aussie/CAD, it’s CAD/Aussie. So you wanna have a quick view of what the CAD is doing against each of the majors.

You’re only gonna look for up and down directions on all of these charts just to make it easy for yourself. So you have all of the CAD pays, but in reverse obviously the CAD/Swiss and CAD/Yen will already be in the right order, so you can just use the normal one. And then I’ve also added in something like the Canadian dollar currency index just to get a quick view of the moves up and down as well.

So I’m basically building this out for each one of the major currencies to have one for basically the CAD, the Pound, the Aussie, the Kiwi, et cetera. So that’s also something you can do. It does take a little bit of work though, and I’m not sure whether that is really something that I will use on a day-to-day basis. It’s just more of an overview type of thing. But yeah, that’s most of the monitors that we use on a daily basis. Any other questions or help with it, just let us know.

FINANCIAL SOURCE TERMINAL - SIGN UP

Learn to trade confidently and independently. Trade to the live heartbeat of the Forex Market in realtime.  Never miss a beat!

IMPROVE THE WAY YOU TRADE TODAY
0 0 vote
Article Rating

ARTICLE SEARCH

CATEGORIES

TRADE WITH AN EDGE

A Financial Source subscription is just $97 per month. Cancel in two clicks.
*Limited offer. Normally $247.
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments