TradingView - Economic Calendar Widget - How it Works I've applied the amazing TradingView Economic Calendar Widget tool to my website.
It's extremely useful to use and apply.
What I love about it is that I can customise the high impact news to watch out for on the daily.
I thought I'd share a quick How it works guide!
Intro to the Economic Calendar Widget by TradingView
Whether you’re a fundamental (news and market related) trader or a technical (charts and historical info related) trader, this is a must-have tool to add to your trading arsenal.
What is the Economic Calendar?
The Economic Calendar is a powerful tool used by most traders to help you track good & bad news announcements, economic indicators, government reports and upcoming market-moving events.
Each day you’ll see a list of financial world and economical news events in a chronological order.
These events are to help you research and evaluate the impact they could have on different currencies, stocks, indices and commodities.
Make sure the bar chart is highlighted in blue to see only HIGH IMPACT NEWS.
How to read the Economic Calendar
First you can get the Economic Calendar in the TradingView Widget website by going here www.tradingview.com
Once you've applied the code to your website you'll easily understand how to read the Economic Calendar.
Here are the main elements to consider:
1. Date:
All economic events are shown in chronological order with the date and the time the announcement was released or will be released.
2. Time and country
Below the date you’ll see the country’s flag and the time the event will be released or has been announced.
NOTE: If you see the bar chart highlighted in blue – it means the event is a High Impact announcement.
3. Event
On the top left next to the time will indicate the news or the events.
4. Actual/Forecast/Actual
With each economic indicator event released, you’ll find the Actual, Forecast (Predicted) and Previous (Prior) numbers next to the date.
Actual
The economic event’s data released which shows you whether the data is BETTER or WORSE than the forecast number (expected).
Forecast (Predicted)
The expected number or forecast is the general agreement of the experts, analysts and economists.
Prior (Previous)
The previous data results e.g. Last month, last quarter or previous results.
How to customize your Economic Calendar
First, click on countries flags at the top of the calendar.
A new window will open, where you can remove or select the countries events you’d like to see.
Then click ‘Apply’ to update the information.
Extra notes with the Economic Calendar
There are a couple of important events you’ll need to watch out for on a monthly basis.
Some of the most influential events, in no specific order, are the following:
• Interest rate decisions
• Changed in monetary policy
• Inflation rates
• QE Quantitative Easing
• Credit tightening
• Consumer sentiment
• Non-farm Payroll
• Changes in Gross Domestic Product (GDP)
• Consumer Price Index (CPI)
• Purchasing Managers Index (PMI)
• Unemployment rate
• Initial Jobless Claims
• FOMC, Central banks meetings and economic talks
• Geopolitical events
You’ll see these will have a ripple effect on wider market movements.
Economic indicators are the not only important events to watch out for. Also take note about the following news events:
Event #1: ECB (European Central Bank)
Event #2: US Fed
Event #3: Bank of England
Event #4: Bank of Japan
Event #5: Swiss National Bank
Event #6: Bank of Australia
Let me know if this was useful and if you'll apply it to your website?
