Supercharge Your Investment Research with OpenBB Terminal
Discover more from Tinz Twins Hub
Supercharge Your Investment Research with OpenBB Terminal
Unleashing the Power of Data for Smarter Decisions
Do you want to access a wide range of financial data through a single interface? Are you interested in analysing financial market data? Yes, then this article is for you. The investment platform OpenBB Terminal allows you to make smarter decisions using the power of data. OpenBB Terminal is a product of the company OpenBB and is free and open source. There are other products from OpenBB. We have presented the individual OpenBB products in a previous article.
This article is for all finance enthusiasts who don’t know OpenBB Terminal yet. We show you how to install OpenBB Terminal and introduce the basic functionality. After this article, you will be able to use OpenBB Terminal for your own investment research.
Let’s not waste time. Let’s go!
🎓 Learn Excel and Machine Learning for stock prediction
In today’s competitive job market, mastering a range of technical skills is more important than ever. The 100-hour course “The Complete Excel, AI and Data Science Mega Bundle“* is designed to equip you with in-demand capabilities in Excel, Python, and Artificial Intelligence (AI).
It is a completely self-paced online learning course.
Here you’ll discover:
Excel functions, formulae, and data visualization techniques. Unlock the financial functionalities of Excel to manage and analyze business data.
Gain an edge in the market by leveraging machine learning for stock prediction.
Learn to build advanced models, understand neural networks, and employ TensorFlow.
Invest in Your Future! Enroll now and set yourself on a path to technological mastery and unparalleled career growth.
How to install OpenBB Terminal?
There are different ways to install the OpenBB Terminal. OpenBB provides versions for MacOS and Windows. You can also install the OpenBB Terminal from source, via PyPI or Docker. The quickest and easiest way to install the OpenBB Terminal is to download the MacOS or Windows installer.
We will show you the installation process for MacOS in detail.
1. Step — Download the PKG file
First, download the installation file from the OpenBB website. Do you have a Mac with Apple Silicon? Yes, then you must first install Rosetta. You can find more information on the OpenBB website.
2. Step — Install OpenBB Terminal on your system
Open the PKG installation file by double-clicking on it. The installer appears.
Press Continue and follow the instructions. The installation takes a moment. When the installation is finished, you will see the following screen.
3. Step — Open the OpenBB Terminal
You can find the OpenBB Terminal application after installation under /Applications/OpenBB Terminal. Open the app with a double click.
A terminal with a loading menu opens. The loading process takes a moment. You will then see the following screen.
You can log in with your login data or continue as a guest. You can register via the OpenBB Hub to use more functions. For the basic functionality, the guest mode is sufficient. You press Enter and continue as Guest. You will then see the Home screen of the OpenBB Terminal.
Now, you are ready to use the OpenBB Terminal.
Home screen
The /home screen is the main path of the command line interface. In the screenshot below, you can see that there are several sections. In this article, we would like to give you a brief overview of the individual sections.
The section headlines are highlighted in orange. All commands are light blue. The sub-menus are dark blue. You can also change the choice of colour via the OpenBB Hub. To do this, you need to register via the OpenBB Hub. From our point of view, it makes sense to register so that you can use the full range of functions of the OpenBB Terminal.
The first section contains information, guides and support commands. In the second section, you can customise the OpenBB Terminal according to your wishes. In the menu account, you can log in with your OpenBB Hub login data. The third section is for advanced users. The OpenBB Terminal also allows you to write your own routine scripts. With an OpenBB routine script, you can automate your analysis processes. That will save you a lot of time. The fourth section contains the main functions of the OpenBB Terminal. For example, you can perform a fundamental analysis or a technical analysis. The last section includes the OpenBB Toolkits. In this section, you can, for example, create reports or analyse your portfolio.
In this article, we focus on the Main menu section. The Main menu offers you many functions that can support you in your next investment decision.
Main menu
We will show you how the OpenBB Terminal works with an example. The example will help you to understand how it works.
First, we navigate to the stocks sub-menu. All menus are marked with the following sign >. Type stocks in the OpenBB Terminal. The following menu appears:
In the next step, we would like to analyse the Tesla Inc. stock. Let’s assume that we don’t know the ticker for Tesla. We can use the search command to find out the ticker. With the command search -h you get an overview of how the command works. We enter search tesla into the OpenBB Terminal, and a table opens with all the information about Tesla.
In the table, we see all the companies with the name Tesla. The first row contains the company we are looking for, Tesla Inc. The first column contains the ticker/symbol. You can also export this data using the Export button. Furthermore, you can customise the table using the Settings button.
All right. With the ticker, we can now load the data for Tesla. We will then create a candlestick chart for the first quarter of 2023. We also plot the trend and the moving average on a 7-day basis. Yes, OpenBB Terminal makes this possible. The following Gif illustrates the procedure:
The interactive candlestick chart has a toolbar at the bottom where we can customise the chart. For example, we used the draw function to mark the sideways movement of the Tesla stock.
OpenBB Terminal is a powerful tool that supports you in your investment decisions. Try it out!
Conclusion
You have learned how to install the OpenBB Terminal. We also briefly introduced the Home Screen to give you an overview of the functionalities. Afterwards, we showed you a small example to give you a first impression of how to work with the OpenBB Terminal.
👉🏽 Join our free weekly Magic AI newsletter for the latest AI updates!
👉🏽 You can find all our Freebies on our digital products page!
Did you like our article and want to support us as writers? You can do it through buy me a coffee or become a member of Tinz Twins Hub. Don’t forget to follow us on X. Thanks for your support. 🙏🏽🙏🏽
Learn more about us on our About page. Thanks so much for reading. Have a great day!
* Disclosure: The links are affiliate links, which means we will receive a commission if you purchase through these links. There are no additional costs for you.