This tutorial covers all the parts of Tradestream web app and how they fit into your analysis. Tradestream automates analyzing the stocks you follow for signals and discovering new stocks. Tradestream can simplify your analysis and research considerably, enabling you to focus more on a short list of stocks that fit your criteria and build a portfolio from it.
The Dashboard is a collection of curated watchlists based on indices, themes, signals. Click on a watchlist to load it.
The second tab is the Performance tab. This helps you quickly sort performance for stocks on various time frames.
The Summary tab shows how different sectors are doing- its a chart of the percentage of stocks in each sector that have hit 52 week highs and lows in the past one week.
By default, a watchlist named after your username is created when you sign up. You can use this to keep track of stocks you are following, or create more watchlists for different types of stocks. The first tab lists the stocks, their performance so far, and displays signals if any.
The second tab helps you automate building the watchlist. If you want a list of stocks that fit a certain criteria, like companies with a market cap above $100 million, and in a particular sector, you can create this filter using the Automation tab. Select the base list of stocks to select from- the entire exchange, or sorted by a sector and set a criteria- based on market cap, or any other financial criteria. You can build filters for automating watchlists in Research-> Rankings.
This lets you customize the columns displayed for the watchlist. Add or remove the columns you want and hit Save to save changes.
You can also share your watchlist with your friends so they can follow the stocks you're following and stay updated. If they are also Tradestream users, they can follow your watchlist to receive automatic updates when you add/delete stocks from your watchlist. To share the watchlist, click the "Private" button to make the watchlist public. Anyone with the link can now see the watchlist contents, but cannot edit the contents. When visitors are logged in to Tradestream, they will be able to Follow the watchlist for automatic updates when stocks are added and deleted.
The scanner scans watchlists with a strategy and generates signals. To generate signals, select a watchlist, a strategy, set its parameters and hit the Scan button. To save this scan, click on Create Alert button. The scan is now saved and will run automatically and email you signals, if any. Scans be set to run daily, weekly or monthly.
The Scan builder is where you can build your own scans from technical and fundamental indicators. Using the scan builder, you can write your strategy without having to write code or learn programming, and is explained through a video tutorial here. You can also hit the Help button on the Scan builder screen to get a quick overview to building a scan.
When you build a strategy in the Scan builder, it is immediately available in the Scanner. A strategy is unique to the Region in which it is created, so a strategy created when your region is set to India will not be available in US.
Alerts run strategies on watchlists and send you if it finds any signals. This tab helps you manage your alerts created in the Scanner. This screen consists of 2 parts- Alerts and Signals.
Alerts displays all the alerts you have created for this region. Only Active alerts are run and generate signals. If you want to stop receiving updates from an alert, turn it off by clicking on the Active button to turn it off. If you want to delete the alert, hit Delete instead.
Signals displays all the signals that have fired alerts on any stocks in your watchlists today.
The Research tab consists of two parts- Financials and Rankings.
Detailed financial statements for a company - both quarterly and annual statements. Along with reported financials, it also calculates and displays growth rates for each time period.
Rankings is used to build filters based on company financials. This can filter a set of stocks based on fundamental criteria like P/E ratio, market cap, revenue growth rates, etc. A detailed tutorial on creating your own filter is available here on Youtube. You can use Rankings to create a set of criteria that are used to build portfolios automatically. For example, find stocks with a minimum volume of 50,000 shares traded, and a market cap of $1b. Once you have a filter, go to Watchlists -> Automation, select the filter, and hit Filter Now to automatically add matching stocks to the current watchlist.
Tradestream uses Tradingview's powerful charts for technical analysis.
As an example, lets go about building a sample portfolio for finding good trade setups in the Technology sector. My criteria is going to be looking for signals on companies with a market cap of at least $1b, a daily volume of at least 100,000 shares traded, in the Technology sector.
To decide when to enter and exit, I will use a Moving Average crossover as my signal. When the faster average crosses above the slower average, I buy the stock. When it reverses, I exit the position. The two averages will be Simple Moving Averages with periods 5 and 20.
I. Selecting stocks
To automate this with Tradestream, first we will configure the criteria to find the set of stocks we can work with- Technology sector stocks with $1b market cap and 100,000 volume. To do this, head over to Research -> Rankings. From the drop down on the left, select Market Cap and click Add. Next, select Volume and Add again. Enter the values $1b and 100,000 in the respective fields. Hit Save and give it a name to save the criteria. So far, we have automated our criteria, now its time to apply it. Head over to Watchlists and load one of your watchlists where we will add the stocks. In the Automation tab, select the filter you just created, and the Technology sector. Hit Filter Now. The watchlist will now reload, and automatically add stocks that fit this criteria!
II. Building the Buy and sell signals
Now that we have a list of stocks ready, we need to generate the buy and sell signals on it. Go to Scanner -> Scan Builder. Enter a name for your new strategy. Enter the signal as Buy.
In the Scan text box, we need to specify the condition for your buy signal. In our case, it is the faster average crossing over the slower average- SMA(5) today should be greater than SMA(20) today, and SMA(5) should be lower than SMA(20) the previous day. So we type in-
SMA(5) today > SMA(20) today and SMA(5) 1 days ago < SMA(20) 1 days ago
Thats it! Hit the Create button to build the scan.
III. Automate the signals
Our strategy is now ready, as well as the portfolio. Go Scanner -> Scan to run the strategy and get the signals. In the Scanner, select your portfolio, select our new strategy and change periods for moving averages if needed. Hit the SCAN button to see if there are any signals today. Finally, to automate this completely, click on Create Alert to set an alert for this signal. This will run this strategy on this portfolio automatically and email you if there are any signals.
If you also want the portfolio to be managed automatically, that is, add new stocks that fit the criteria and remove old ones that don't, this can also be automated. Load the watchlist from Watchlists, and go to the Automation tab. Next to the Filter Now button, click on the Set Filter button. This will run this criteria on your watchlist every day and add and remove stocks automatically.
This concludes a brief introduction to using Tradestream for automating your analysis. If you have any queries or want more information, please watch the tutorials on Youtube, or write to us at firstname.lastname@example.org