The Heatmap Calendar is one of the six instrument analysis tools that provide a detailed analysis of individual stocks, ETFs, indices or investment themes to identify investment-worthy opportunities. It helps investors find important dates and periods of performance for specific instruments.
For example, let’s consider the given chart. During the last three months TSLA was mostly profitable and delivered on average +0.53% per day. It’s best return during this period (of +6.57%) was on Monday, 8 May, 2023. While it’s worst loss in the same period (of -9.75%) was on Thursday, 20 Apr, 2023. The longest short-term trend during this period was 13 profitable days, which started on 25 May, 2023 and went on till 13 Jun, 2023. This bullish trend returned +35.25% to investors.
In summary, the Heatmap provides a daily analysis that helps investors to identify favourable and unfavourable trends based on historical data.
Follow these easy steps to use Alpha Builder’s tool “Heatmap calendar” to identify important dates and periods of performance:
1. On the home-page, click “Alpha Builder” or select sub-menu item “ALPHA BUILDER” under the “TOOLS” head of the “PRODUCTS” menu.
2. Scroll down the page and click on “Heatmap calendar“.
3. The chart displays heatmap calendar for NIFTY-50 by default.
4. Click on the right-side text-box with text as “Symbol“, type the symbol and click on one of the presented options.
5. Now click on the hand lens icon next to the text-box.
6. The chart will depict the important dates and period of performance for the selected symbol.