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News Sentiment Indicator

by QuantShare, 3565 days ago
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This is a function that could be used with a database that contains text data (for example a news database). The function accepts as arguments, the database name, the field name, a positive list of words and a negative list of words.
These lists of words are simply words separated by comma. (word1, word2, word3...). The idea is to calculate an indicator that tries to measure the news sentiment. If a positive word is found in a news title, then the indicator will add a value of one in this news bar and if a negative word is found, then a value of one will be subtracted.

Here is an example:
news_sentiment('yahoo_news', 'title', 'buy,good,better,bull', 'sell,bad,lower,bear');
For each bar, each time the indicator finds one of the following words: buy, good, better, bull, it adds one to the current bar result, and each time it finds one of the following words: sell, bad, lower, bear, it subtracts one to the current bar result. It finally returns the indicator time-series.

For the news database, you can use one of the following downloaders:
US stocks:
Yahoo News
Smartmoney news for US equities
News data for US companies from Google RSS feed
Insiders' Blog stories
Analyst comments

London Stock Exchange:
London Stock Exchange News


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Type: Trading Indicator

Object ID: 304


Country:
All

Market: All

Style:
Fundamental Analysis

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