Published on: March 11, 2025
In stock market trading, the term Market Watch often brings to mind the traditional trading screen filled with stock names, their last trade prices, open, high, low, volume, and open interest. While these are essential metrics for tracking a stock’s movement, traders have always yearned for more comprehensive tools to make quicker, more informed decisions.
At Definedge, we believe in stepping beyond the ordinary. We constantly strive to innovate and enhance our platform to benefit our customers and ensure they have the best tools at their fingertips. After the resounding success of our Straddle Watchlist, explicitly designed for options traders, we are proud to introduce a groundbreaking feature—the Indicator Watchlist.
This new feature allows traders to analyse and trade directly from a single window with a host of advanced indicators, providing insight that can elevate any trader’s experience.
What is the Indicator Watchlist?
The Indicator Watchlist combines the traditional market watch with an advanced layer of charting analysis. Now, you can track stocks and incorporate various technical indicators directly into your watchlist. These indicators come from a range of charting styles, precisely six:
- Candlestick
- Point & Figure (P&F)
- Renko
- Line Break
- Heikin Ashi
- Kagi
Imagine the power of tracking the stock price and the real-time values of these indicators in a single glance. This is now possible with the Indicator Watchlist, which can be added to your existing market watch. It allows you to view multiple data points simultaneously and take swift action based on in-depth analysis.
Take the Nifty50 index as an example. With the Indicator Watchlist, you can add different chart types and their respective indicator values, such as moving averages, RSI (Relative Strength Index), Bollinger Bands, or MACD (Moving Average Convergence Divergence). This gives traders the ability to spot patterns and trends with greater precision, all from a consolidated view.
The Advantages of Indicator Values for Trading
When it comes to trading, having the correct information at the right time can make all the difference. Here is why the Indicator Watchlist is a game-changer for traders:
- Real-Time Data: Indicator values update in real-time, allowing you to stay ahead of the market and make informed decisions instantly.
- Comprehensive Analysis: Instead of switching between multiple screens and charts, you can now monitor price action alongside technical indicators in one place.
- Customizable for Any Strategy: Whether you are a day trader, swing trader, or long-term investor, you can tailor your watchlist to suit your strategy. Select from various timeframes – from 1 minute to monthly, quarterly, or yearly – depending on your trading style.
- Multi-Chart Analysis: You no longer need to juggle between multiple chart types or tabs. The Indicator Watchlist lets you incorporate several chart types and indicators in one, reducing time spent searching for patterns and streamlining your workflow.
- Multi-Time Frame Indicator: You can add multiple time-frame values for the same indicator in the watchlist. Say you want the RSI value for the Daily and Hourly/60-minute time frames. You can add two columns, and the indicator watchlist will display both values.
- Informed Decisions: By tracking the indicators alongside stock prices, you get a clearer picture of market trends, potential reversals, and breakout opportunities. This can help you make better trading decisions and reduce the chances of costly mistakes.
How to Create Your Indicator Watchlist
Setting up your Indicator Watchlist is quick and easy. Follow these simple steps to get started:
- Open Market Watch: Go to your trading platform and open the Market Watch section.
- Click on “Indicator”: Select the “Indicator” option in the watchlist to start customising your watchlist with technical indicators.
3. Select Chart Types, Indicators and Time Frame: Choose the chart type (e.g., Candlestick, P&F, Renko, etc.), the indicator(s) you wish to track, and select your preferred time frame (from 1 minute to monthly/quarterly/yearly).
4. Name Your Indicator and Add: Give your indicator a name for easy reference, and click on “Add” to save it to your watchlist.
5. Monitor and Analyse: Now, you can analyse the indicators and stock data at a glance directly from your watchlist.
We have added multiple indicators, such as RSI (Daily), RSI (60min), MACD, ADX, Donchian Channel Upper Band, Donchian Channel Lower Band, 50DMA, and 200DMA.
Perfect for Every Trader
Whether you are a day trader looking to capture quick moves in the market, a swing trader waiting for that next big trend or an investor analysing long-term potential, the Indicator Watchlist gives you the flexibility to tailor your analysis to fit your style. With the ability to view indicators on timeframes ranging from 1 minute to monthly, quarterly, or yearly, you can quickly assess short-term price action or long-term trends.
At Definedge, our mission is constantly innovating and empowering traders with cutting-edge tools that enhance their trading experience. The Indicator Watchlist is just another step in our commitment to providing the best technology for smarter trading. Don’t just watch the market – analyse it in-depth, make informed decisions, and trade confidently with the power of the Indicator Watchlist.
Ready to revolutionise your trading? Log in now and add the Indicator Watchlist to your market watch!
