Everyone wants to stay on top of the market. Where are the buyers, and where are the sellers? How do I find areas of strength and weakness? What if I want to see broader groups instead of just individual stocks?
This is yet another time that TradeStation’s award-winning technology comes to the rescue. As many clients likely know, one of the platform’s most popular features is RadarScreen®, our real-time market monitoring and ranking tool. What many users may not know, however, is that it can tracks dozens of industry-level indexes from Dow Jones.
Start by clicking the Apps button at the top right of your platform and select RadarScreen. (Marked #1 on screenshot below.)
Once the RadarScreen window appears, click on the Data menu along the top. (#2 on screenshot below.) Then follow this progression of options:
Data → Add Symbol List → Other Symbol List → TradeStation Symbol lists →
Indexes → Dow Jones Indexes → Industries
This will load a a bunch of symbols like $DJUSAE and $DJUSAR. That’s a little confusing, so next you’ll want to change the columns on RadarScreen to add “Description.”
Start by clicking on the Studies button on the top of RadarScreen. This will open a window with two lists: Available studies on the left and Selected studies on the right. Scroll on the left until you have found “Description.” Select it and then click on the Add button in the middle of the page.
Suddenly $DJUSAE is identified as US Aerospace. $DJUSAR is listed as US Airlines, etc.
There are many other things to learn about RadarScreen, like setting time intervals and linking to charts. It’s even possible to create your own custom indicators. View this video for more information on this powerful and versatile tool.