Every Investor is talking about OpenBB: Here's why?
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Every Investor is talking about OpenBB: Here's why?
Free and Open Source - Next Generation Investment Research
OpenBB is an open-source investment research software platform. The platform gives you access to high-quality financial market data and analytical tools. The goal is to make investment research accessible to everyone.
The platform aims to bring together data providers, developers and financial analysts to shape the future of investment research. OpenBB offers an extensive range of datasets. You also have access to almost the entire investment universe, a wide range of economic databases, fixed-income instruments, digital assets and much more.
In addition, OpenBB provides powerful toolkits. These toolkits help you with critical topics such as fundamental, quantitative and technical analysis, portfolio management, artificial intelligence and econometrics.
Why do we use OpenBB?
We have been investing in the stock market for several years. Collecting data and analysing companies takes a lot of time and effort. At the beginning of 2022, we discovered the open-source project OpenBB. The project convinced us from the beginning. OpenBB enabled us to take our investment research to a new level. The open-source platform allows anyone to view the source code. Everyone can contribute to the project and help shape the future of investment research. OpenBB uses Python as its programming language. Both developers and analysts are familiar with Python. Do you like to delve deeper into Python? In the book “Python Crash Course, 3rd Edition: A Hands-On, Project-Based Introduction to Programming”* you will learn the most important concepts. OpenBB 3.0 has taken the platform to a new level. The documentation of the individual products, which we present below, is very well structured. We can recommend every investor take a look at OpenBB.
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OpenBB Platform
OpenBB Terminal
The OpenBB Terminal is a Command Line Interface (CLI) application. You operate it with commands from your keyboard. As a result, you get charts, tables, or text. The charts and tables are fully interactive. Navigating through the terminal menus is similar to going through folders in the command line of an operating system. The OpenBB terminal starts with a help menu to give you an overview of the functions. You can call help from any submenu to see the available opportunities.
We will demonstrate how it works with a small example. Let’s say we want to look at a candlestick chart for the stock Tesla.
Steps:
Navigate in
stocksExecute following command:
candle -t tslaA window with the candlestick chart opens.
The toolbar at the bottom of the window offers you several setting options. You can add markers, download the chart and much more. OpenBB is a comprehensive investment analysis application for beginners and professional analysts. Try it out!
Useful links:
Installation (OpenBB Terminal)
Tutorials (OpenBB Terminal)
Basics (OpenBB Terminal)
OpenBB SDK
The OpenBB SDK is the core engine of the OpenBB platform. The SDK allows you to access a wide range of financial data through a single endpoint. Accessing financial data is often very tedious and takes a lot of time. There are hundreds of data providers. All providers have different interfaces. The OpenBB SDK simplifies this process for you. You have access to about 100 data sources through a single endpoint. You can access over 30 years of fundamental data for any business with just one line of code. OpenBB makes data collection fast and easy. In addition, you can integrate the OpenBB SDK very well into your investment research system. You can install the OpenBB SDK in your Python environment via PyPI.
pip install openbbUseful links:
Installation (OpenBB SDK)
Tutorials (OpenBB SDK)
Basics (OpenBB SDK)
OpenBB Bot
Do you want to share your investment strategies with friends? Then the OpenBB Bot is what you need. You can use the OpenBB Bot directly from Discord or other chat platforms. Very handy!
Useful links:
Installation (OpenBB Bot)
Tutorials (OpenBB Bot)
Basics (OpenBB Bot)
What do we know about future features?
OpenBB is very transparent about future features. It is known that OpenBB is working on an OpenBB Terminal Pro with a graphical user interface.
OpenBB Terminal Pro has an intuitive and fully customisable graphical interface. The graphical interface simplifies access to and analysis of financial data. The OpenBB Terminal Pro is currently not yet available. However, you can join the waiting list.
Conclusion
OpenBB is a bridge builder between analysts, developers and data providers. You can use OpenBB Terminal for quick investment analysis. The OpenBB SDK is suitable for your investment analysis with Python in a Jupyter Notebook or Python Script. With the OpenBB Bot, you can share your strategies and investment ideas with friends on Discord or Telegram.
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