0:00
if you randomly ask any Trader to list
0:01
their top 10 favorite websites or
0:03
resources that they used for trading uh
0:05
ticket tape will definitely appear in
0:06
the top 10 list ticket tape is is a good
0:08
and an accurate resource for stock and
0:10
Market related information especially I
0:12
love the one feature that they provide
0:14
which is the market mode index the MMI
0:16
which is quite popular um this indicator
0:18
gives an overall Poli of the Indian
0:20
market and the way it simplifies just
0:22
within four parameters which is Extreme
0:24
greed uh greed fear and extreme fear U
0:26
it's as simple as that in this video
0:28
I'll cover two things one I will share
0:30
with you a simple python utility that
0:32
can extract the MMI score so that you
0:34
can use it use it on your own dashboards
0:35
or for your daily Market ins sight
0:37
updates you know how you you want to use
0:38
it and number two I would like to talk
0:40
to you about a little pet project that
0:42
I'm currently working on and I would
0:43
like to get our entire Community
0:44
involved in it uh so I really look
0:46
forward for your ideas and help with
0:48
that one so let's get
0:50
started if this is your first time here
0:52
welcome my name is VI and I'm a
0:54
financially independent Al Trader this
0:55
channel is all about building a
0:56
community of Alo Traders we discuss
0:58
everything about Al trading using python
0:59
building pisting trading strategies
1:01
Market updates much more please do visit
1:03
our community website Fab
1:05
trader.net Channel Fab weth where I talk
1:07
about my own Financial Independence
1:08
journey and Shar tools methods and
1:10
strategies that help me achieve my
1:11
Financial Freedom thank
1:14
you as usual everything that I'm
1:15
covering today in this this video is
1:17
already available as part of the blog
1:18
article here I'll provide the link to
1:20
this in the description and I'll also
1:22
pin this in the comment section so you
1:23
can go through it so this has a detailed
1:25
account of what I'm currently talking
1:26
about and it also has the python utility
1:29
and then the entire code that you can
1:30
actually download copy it and use it on
1:33
own now let's talk about the market mode
1:36
index uh for people who are not aware of
1:37
this uh this is a very simple index that
1:39
TI puts out they haven't really uh given
1:42
us a detailed account on how they are
1:44
arriving at this number I think probably
1:46
the the logic is very proprietary they
1:47
don't they've not revealed it but all
1:49
that we know is that they have they give
1:50
a score from 0 to 100 uh and then
1:52
depending upon the score they basically
1:54
classify the market in these four
1:55
categories either extreme fear fear
1:57
greed or extreme greed I believe it's
2:00
very simple and very effective I
2:01
currently I love it I I currently look
2:03
at it uh from time to time and then I
2:05
was thinking that you know I'll probably
2:06
include this in one of the dashboards uh
2:08
that I refer to every day and that's
2:10
when I wanted to scrape this information
2:13
and uh you know that's where this
2:14
utility was born uh in terms of you know
2:16
what the score means and how to derive
2:18
and how to make sense of it is all
2:20
provided here you can please feel free
2:22
to go through it whenever you find time
2:24
um in terms of the uh the python script
2:26
itself is very very straightforward all
2:27
you need is just selenium and web driver
2:28
so you just install these different
2:29
pendencies and the script itself is very
2:31
straightforward it just scrapes that
2:33
particular web page and looks for this
2:35
particular score and then based on the
2:37
score when you run it uh you get both
2:39
the score as well as the the market mode
2:41
um and here's the code in action um when
2:44
you run this code it gives you these two
2:46
which is the the score as well as the
2:47
market mode as seen in the the ticker
2:51
website if you haven't joined our
2:52
telegram group please do so I share
2:54
market insights I'll go trading tips and
2:56
new video notifications and this week we
2:57
stay up to date with our community news
3:01
I hope you like this little utility and
3:03
make full use of it and maybe use it
3:04
within your dashboards um the second
3:07
aspect that I wanted to talk to you
3:08
about um is one of the pet projects that
3:10
I am currently working on um I'm sure
3:12
you're aware of our community website
3:13
fat.in if you go into the tools the
3:16
access tools uh you you find this tools
3:18
page right where you have a number of
3:20
useful tools uh that that people can be
3:22
using for free typically some of these
3:24
tools are paid versions outside but here
3:26
it's completely open source and uh
3:27
you're free to use it U but right most
3:30
of these tools are in the person Finance
3:31
category not not uh much on the tra
3:33
trading side uh for example the
3:35
retirement planner here right uh so so
3:38
I'm looking to actually build a similar
3:40
set of Tool Set uh for the trading
3:42
Community as well um the typical uh
3:45
tools that you find uh you know in paid
3:47
versions like uh defin AG or stockage um
3:50
I'm thinking that we can actually build
3:52
all of those tools and open it up for
3:53
free uh for all our community members so
3:55
that lifetime you can keep using those
3:57
uh you know uh those tools uh for your
4:00
making I hope this idea excites you um
4:03
and what I need from from our community
4:05
from you especially is some ideas as to
4:07
what you would like to see in those
4:08
tools um if you could just send me some
4:11
some ideas on fat Trader in gmail.com I
4:14
would uh soon start working on those
4:16
ones uh as early as probably in a week
4:18
or 10 days we can start launching that
4:20
tool one by one um and then we can
4:22
slowly build on it and then get better
4:24
at it hope you like that idea if you
4:25
like that idea please do suggest some
4:27
ideas and uh you know we will take it
4:28
from there thank you if you genuinely
4:32
found this video useful please consider
4:33
subscribing and liking the video and I
4:35
will see you soon in another video and
4:36
until then take care and happy Trading
