Based on live sentiment data from FX Blue Labs, it enables you to take real-time market sentiment into account in trading decisions. You can use the sentiment information as confirmation of trading decisions, or as fail-safe.
- Current long or short sentiment for an instrument, i.e. a currency pair
- A dashboard of current sentiment for multiple symbols
- A chart of historic sentiment plotted against price
- Choice of timeframes for historic sentiment and price
- Customizable view of current sentiment: gauge, pie chart, dial
- Customizable view of historic data: candlestick, line etc.
- Dashboard of current open position in each symbol, as well as sentiment
- Simple deal ticket for placing orders directly from the Sentiment Trader, without needing to go back to the underlying platform
How to read data
The list of available symbols is determined by popularity, i.e. the number of people trading them. For example, sentiment data is not available for CADJPY because there are typically too few traders with an open position to calculate a meaningful percentage.
If you have multiple open orders in the same symbol, then the sentiment calculation uses a single net figure for the trader's positions. For example, if a trader has an open buy order for 1.5 lots and an open sell order for 0.7 lots, then they are treated as being long. The sentiment percentage is not weighted by volume (because there are a few users with very large accounts and trade sizes). A trader who is long 0.1 lots has the same effect on the figures as a trader who is long 50 lots.