Interesting Data on TradingView to Filter Trades
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Leverage unique data on TradingView like the VOLI Index, top NASDAQ constituents, and Federal Reserve economic data to filter trades and enhance decision-making. These indicators provide additional insight into market sentiment and trends.
When filtering trades on TradingView, there are several unique data points that can be leveraged to enhance decision-making beyond basic price and volume signals.
VOLI (Volley Index)
The Volley Index (VOLI) is similar to the VIX but focuses more narrowly on 30-day at-the-money options, providing a more focused view of volatility. Traders can use the VIX/VOLI ratio to gauge market sentiment and determine if it’s a bullish or bearish period. Unlike the VIX, which can be noisy, VOLI offers a tighter lens on near-term volatility, helping traders time entries and exits better.
Top NASDAQ Constituents
By tracking the top 20 NASDAQ stocks, which make up over 55% of the NASDAQ 100’s market cap, traders can get a strong signal for NASDAQ futures. Monitoring price action or VWAP (Volume-Weighted Average Price) of these top stocks can provide insight into broader market trends without needing to track all 100 components.
Federal Reserve Economic Data
TradingView also provides access to Federal Reserve economic data, such as the PMI Index and NFCI (National Financial Conditions Index). These macroeconomic indicators can be incorporated into trading strategies:
• PMI Index: A great proxy for the business cycle, it indicates market expansions and contractions.
• NFCI: Reflects how freely credit is flowing, which correlates to market bullishness (lower NFCI values indicate easier credit and a bullish environment).
Conclusion
Using non-traditional data like VOLI, the top NASDAQ constituents, and Federal Reserve indicators in TradingView allows traders to build more informed filters for their strategies. These data points add valuable context to technical signals and help traders anticipate broader market movements.