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How to Use the Data Tab

Video Transcript

In this video, I want to take you through the Data tab. Now, each chart is made up of underlying data—that's what creates the open, high, low, and close (OHLC) data displayed on the chart. Each indicator is also a series of data points stored in a database that are then displayed on the screen and manipulated by you, the trader.

The first thing you want to do when you go into the Data tab is notice that each data set is for each individual line, for each individual day. If you go down to a minute chart or a 10-minute chart, each line would represent each 10-minute bar, for example. In this case, we're looking at a daily chart, and you can see that each daily chart has a number associated with it, along with the date. Then, we have the open, high, low, close information, the volume, and, of course, on this chart, I have a number of different indicators.

We have the moving averages here, along with several other indicators, such as the CMF and AD, as you can see in the bottom windows. This data is all displayed for you here in the Data tab.

One of the great things about the Data tab is that you can export it, so you can have your own exported file, and you can manipulate it and work with it in any way you like in something like Excel. You can also print the data if you'd like to have a printed version.

One of the important things to note about the underlying data: if you go to the daily chart and click on Underlying Data, sometimes you will download data and the exchange has an error. I know it's rare, but on occasion, you will have an error in your chart, and it'll mess up your chart or the indicators because there's a wrong price bar. You can come in, and actually, in the data set itself, you can change your version of what you see on the screen. You can change the open, high, low, close, or even the volume.

Be mindful that if you go into File > Manage Local Cache, where you can remove the chart data and then redownload from the exchange to refresh your data, it will override any changes you've made and bring down the new, updated data from the exchange. You can delete this at any time and then download the new data from the exchange.