The Scanner scans charts of any watchlist you select and sends you alerts when it finds any signals. You can use the scanner to find stocks making new 52 week highs, or trading near it, stocks showing an RSI divergence, or hitting the Bollinger Band, etc. You can also create your own scan in the Scan Builder.
To get started, select a watchlist you want to scan, a date, leave the frequency on daily for now, and the scan type, and hit the Scan button. Depending on how many stocks are in the watchlist, the scan could take anywhere from a couple of seconds to half a minute for a really big watchlist with 500 stocks.
If you are going to run this regularly, its easier to set it up as an **Alert**. Once you've selected the right scan, frequency and watchlist, hit the **Create Alert** button. This alert is now run automatically, every day after the market closes for the day, and the results are emailed to you. This ensures you dont have to be looking at hundreds of charts, just the few stocks that show up in your alerts!
Tradestream.in comes with dozens of scans ready to use based on what traders use most often- stocks crossing the 200 day average, RSI overbought or oversold, stocks making new 52 week highs, volume spikes, etc.
But if you have your own chart pattern or a combination of these, you can write it in the Scan Builder and it works just like the others. You can now setup alerts for it, or use it in the scanner. Here is a sample that shows how to write a scan that finds stocks where RSI is oversold- that is, has gone below 20. You can add more conditions if needed.
If your scan requires some customizations that are not available in the Scan Builder, please email us at email@example.com with a brief description of what your scan needs to do, and we'll build the scan for you at no extra cost.