Market eye filters is made creatively to help you take advantage of market opportunities without using any strategy. Market eye is an event tracker, a type of Market Scanner. There are pre-defined Bullish as well as Bearish events such as high of the day, low of the day, gap up, gap down, etc. Most of the software’s in the market provide this kind of feature but what makes this feature unique in TrueData Cheetah is the option of ‘Filters‘.
Market Eye filters will help you to filter out the choppy market, as a good scanner should not have same stocks repeating itself.
As I mentioned above, taking advantage of market opportunities such as:
1) Gap up/Gap down:–
2) Turn over:–
Volume breakout can lead to market reversal or conviction that breakout is real. Momentum traders are thus benefitted from volume breakout. High volume with gap up or gap down could be identified with this filter.
3) Identifying Support and Resistance:–
When a stock reaches a new high in an uptrend it forms support and similarly, resistance is formed when a stock reaches a new low in down market. Thus Selling in new low and buying in new high can be a profitable trade. Reversals build slowly. Also in case of the first sharp dip always finds buyers and the first sharp rise always finds sellers.
4) % Chg:–
Long candle (bullish or bearish) accompanied with high volume filter is significant.
Removes noise from the market. Only significant movement between tick is identified thus stocks with significant movement can be concentrated upon.
Thus using our market eye one can trade in any kind of market in the right direction irrespective of noise.