TrendSpider, in partnership with Quiver Quantitative, tracks and logs the number of times a symbol is mentioned on the popular investing subreddit Wall Street Bets (r/wallstreetbets) and allows you to display the mention tracker data on the bottom of your charts.
In this documentation, we will explore how to:
- Add Wall Street Bets Data on Chart
- Customize Wall Street Data on Chart
- Using Wall Street Bets in Smart Watch Lists
- How Wall Street Bets Data is Assembled
- How Wall Street Bets Data is Categorized
Let’s get started 🚀
Add Wall Street Bets Data on Chart
Step 1: From the top toolbar, click on the vertical ellipsis (⋮) adjoining the Other Data button.
Step 2: Check the Mentions on r/wallstreetbets from the dropdown list.
As a result, Wall Street Bets data will be added as a new lower indicator to the bottom area of the chart reflecting the number of times the symbol was mentioned on the subreddit.
Tip: You can also adjust (expand/contract) the lower indicator space for Wall Street Data through a single click on the horizontal line and dragging it upside or down with your cursor 💡
Customize Wall Street Data on Chart
Start customizing the display settings for the Wall Street Data on the chart by clicking on the vertical ellipsis (⋮) button adjoining Mentions on r/wallstreetbets from the lower indicator.
You can customize the display settings for the following:
- Line Color: Change the color of the line in the lower indicator
- Line Stroke: Adjust the thickness of the line in the lower indicator
Click on the Apply after making the changes.
Using Wall Street Bets in Smart Watch Lists
In the Smart Watch list menu, you will find 12 special Watch Lists dedicated to analyzing the data and posts from the r/wallstreetbets subreddit where each different list (having up to 50 symbols) is categorized based on the frequency and sentiment of the symbols mentioned within the subreddit for a given period of time.
Please refer to the documentation on Watch List for more information on adding and managing the Watch List.
How Wall Street Bets Data is Assembled
TrendSpider assembles the data from the r/wallstreetbets subreddit into the Smart Watch List by adhering to the following:
- Fetch all the stock/ETF symbols mentioned on r/wallstreetbets for a given period of time
- Calculate the "prevailing sentiment" for every symbol on a given period of time, as a "median of sentiment across all the days of this time frame"
- Distribute symbols to different lists, based on sentiment (see below) and time frame (1d, 7d, 14d e.t.c.)
- Sort each list by "number of mentions", most popular symbols first
- For each list, trim away symbols that had too few mentions (5 for "1-day" lists and 15 for all the other lists)
- Take top-50 for each list
Note*: "for 1 day" means "since the beginning of the day today as of NY time zone"*
How Wall Street Bets Data is Categorized
TrendSpider distributes and categorizes the data from the r/wallstreetbets subreddit to different lists in the Smart Watch List based on sentiment (formalized using VADER score) and time frame:
- Mentioned in any context (ignores sentiment completely)
- Mentioned in a primarily negative context (median of sentiment is less than 0)
- Mentioned in primarily positive context (median of sentiment is greater than 0)
Note: We use VADER (Valence Aware Dictionary and sentiment Reasoner) for sentiment analysis but this method might be changed without issuing a prior notice. However, this documentation will be updated if any such change is realized and implemented.