Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Tradingview Style Nifty 50 Heatmap Visualization using Python and Highcharts

1 min read

As an investor, having a clear visual overview of market performance is essential. We are excited to introduce our latest project: a TradingView-inspired heatmap visualization for the Nifty 50 index. This tool provides a quick and intuitive way to understand the performance of India’s top 50 companies.

What is the Nifty 50 Heatmap?

The Nifty 50 Heatmap is an interactive, color-coded visualization that displays the performance of the 50 stocks in India’s benchmark Nifty 50 index. Each stock is represented by a rectangle with the following features:

  1. Size: Reflects the company’s market capitalization. Larger rectangles represent companies with higher market caps.
  2. Color: Indicates stock performance. Shades of green signify positive returns, while shades of red indicate negative returns. The intensity of the color correlates with the magnitude of the change.
  3. Information Display: Shows the stock’s symbol, current price, and percentage change. For smaller rectangles, only the company logo is displayed to maintain clarity.

How We Built It

We utilized python flask and highcharts to create this treemap visualization:

  1. Flask: A lightweight Python web framework that serves as the backend for our application.
  2. Highcharts: A versatile JavaScript charting library that powers our interactive treemap visualization.
  3. yfinance: A Python library that fetches real-time stock data from Yahoo Finance.

The application fetches real-time data for the Nifty 50 stocks, processes it, and sends it to the frontend, where Highcharts renders the interactive heatmap.

Key Features

  • Real-time Data: The heatmap updates with the latest stock prices and performance metrics.
  • Interactive Tooltips: Hover over any stock to see detailed information.
  • Responsive Design: The heatmap adjusts to different screen sizes for optimal viewing on any device.
  • Performance Optimization: We use multithreading to fetch stock data efficiently, ensuring quick load times.

Benefits for Investors

This heatmap offers several advantages for investors:

  1. Quick Market Overview: Understand overall market sentiment at a glance.
  2. Sector Performance: Identify which sectors are performing well or underperforming.
  3. Relative Performance: Easily compare the performance of different stocks.
  4. Market Cap Visualization: Understand the weight of each company in the index.

Future Enhancements

We are continually looking to improve and expand this tool. Some ideas for future updates include:

  • Adding more indices (e.g., Sensex, Nifty Next 50)
  • Implementing time range selection (e.g., 1-day, 1-week, 1-month views)
  • Including additional metrics like volume or P/E ratio
  • Creating custom watchlists

Our TradingView-style Nifty 50 Heatmap Visualization is designed to empower investors by providing a clear, visual representation of complex market data. We welcome your feedback and contributions to enhance this tool further!

Happy investing!

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

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