Here we will explain in detail how to set up and use our PsyQuation Market Alerts suite.
To access the Market Alerts, click on the bell icon on the website’s toolbar:
To set up a new alert, click on the “Create New Alert” page:
You will then need to choose the desired alert type and instrument:
Here you can also choose whether to receive email and/or SMS notifications (if you added your mobile number)
Once you pick an alert, you will need to specify its parameters. Read our blog posts about each alert to find out what each alert and its parameters mean.
Here’s an example for setting up a classic Golden Cross alert:
After you set it up, it will show up on the left, and from here you can pause it, edit, or completely remove it:
When your alerts are triggered, you will be notified and they will show up in the alerts history on the right:
To determine the most valuable parameters for an alert, as well as to make more informed decisions based on the alerts you get, you can use the Probability table tool:
There you can read more about the tool and pick the alert type you are interested in:
Then you need to pick the parameters for the alert in the controls bar on the left, and click “Apply filters”. You will then see a summary that will tell you how many times this alert has been triggered, as well as the probability table:
Let’s break down the table.
The top part lists the times in the past when this alert was triggered with these parameters, in the selected timespan. The number of events that will show up here is limited by the “Number of Events to Show” parameter in the control bar.
The first column lists the date of each event. The subsequent columns list the relative price moves at some intervals in the future from the date of the event. Some values will not be available for more recent events.
At the bottom, there is a summary that provides aggregate values for each column, taking into account all events, regardless of the “Number of Events to Show” value. This is is the most important part of the table, as it aggregates all events into a single actionable value.
For example, if you set up the alert as pictured, you might want to take a long position when it’s triggered, as that has always led to a positive move in a week. But pay attention to the sample size – in this case it is just 7, which is too small to be statistically significant.
You can also reorder the table by each column by clicking on the header (click again to reverse the ordering):
This view can be accessed through a corresponding tab and shows you the price action after the events on a single chart so that you can look at the data visually.
Hover your mouse over any line to highlight it and see what the price change was at that particular time.
This view allows you to examine each event a little more closely – it shows bar charts for 5 days leading up to each event, as well as 10 days after it. The day of the event is highlighted with a yellow dashed line.