1. About sentiment data
The Sentiment Trader displays information about current and historic long/short sentiment:
the percentage of traders who currently have (or had) an open buy or sell position in a symbol.
The figures are not technical analysis based on price action. They are calculated from realmoney accounts which are being published to www.fxblue.com. For example:
• 5845 real-money accounts publishing to www.fxblue.com have an open buy position
in EURUSD, and 2378 accounts have an open sell position. The app will show that
the EURUSD sentiment is 71% long.
The list of available symbols is determined by popularity, i.e. the number of people trading them. For example, sentiment data is not available for CADJPY because there are typically too few traders with an open position to calculate a meaningful percentage.
If a trader has multiple open orders in the same symbol, then the sentiment calculation uses a single net figure for the trader’s positions. For example, if a trader has an open buy order for 1.5 lots and an open sell order for 0.7 lots, then they are treated as being long.
The sentiment percentage is not weighted by volume (because www.fxblue.com has a few users with very large accounts and trade sizes). A trader who is long 0.1 lots has the same effect on the figures as a trader who is long 50 lots.