Scanner User Guide

The following documents shall assist you in creating, understanding & running custom scans. We recommend that you have our scanning tool open in another window to practice the below demonstrations.

  1. Introduction
  2. Filter components
  3. Examples

Introduction

A tool to help you scan stocks broken out of various technical levels/indicators that you’ve customized and built during your experience with stock markets & technical analysis. Chartink’s scanner encompasses all the flexibility requested by our users to provide custom, accurate & fast stock scans. A few examples include listing stocks that have crossed the 200 day moving average OR having RSI values greater than 70 OR stocks closing above their open price and many more.. everything configurable by your requirements.

Filter components

Scans are made up of multiple filters, which can be added by clicking on the filter icon . A scan with a single filter looks like below:

Sample filter

Specifies to list stocks whose closing is greater than 5000, the interface relates closely to our English language grammer.

A filter is made of individual components as follows:
Stock attributes

Relates to the Open, High, Low, Close, Volume of a stock. A stock attribute would always be prefixed by a offset, specifying “are you looking for the latest value OR a day ago OR n days ago”.

Add “Stock Attribute”

Steps performed to add “Close” as a filter attribute. Notice the “Offset” component automatically added.

Offsets

Often, you may what to compare yesterdays filter component with today’s/latest, eg: Searching for stocks that have closed above their yesterdays close. Offsets help your add this flexibility to help you compare components days prior to the latest trading day.

Modify “Offset”

A offset is automatically added once you select a stock attribute or a indicator defaulting to “Latest”. To change, click on it.

Number constant

Relates to hard coded number definitions. Can be used against comparisons(greater than, less than..) operators OR any of the mathematical operations(+,-,/,*). Number constants cannot have a offset, as they’d be the same if valued for today, yesterday OR any days ago.

Indicators

You can add multiple indicators RSI, MACD, ADX, SMA, EMA.. etc and perform various computations against them to filter stocks. A common use case is comparing an indicator value with another value derived from another “Indicator” OR”Stock Attribute”. Most of the indicators require a parameter to be specified for their computations, Chartink defaults the parameter when you add them(inside brackets), you can also change the parameter of any of the indicators.

Indicator filter

Adding SMA as a indicator, notice the parameter for SMA, signifying the computations to be on the “close” stock attribute for the past 200 days. If a “Indicator” requires multiple parameters, they are separated by a comma eg:  “(close, 200)” here.

Operations

Once you have added a “Stock Attribute”/”Indicator” you’d want to perform certain operations on them(eg compare them), operations bind indicators to your custom criteria. Eg: Compare an Indicator value to a number constant OR Add indicators to themselves. Below is the format for linking operations with other filter components.

indicator operation(greater than/less than) number constant ....
stock attribute operation(equals) indicator ....
number constant operation(*, /, +, -) number constant operation(less than) indicator ...

A operation can be performed by clicking on “….”, click to view an example. Also, you can have multiple operations performed for a single filter.

Types of operations:

Comparison

Probably the most common operation that you’d use as every valid scan requires a comparison among 2 filter components. A single filter can have only a single comparison. In the below snippet, “greater than” operation denotes the relation between the 2 stock attributes(close & high) & filters stocks that have a “Close” greater than a stocks’ “Open”

Close greater than Open
Arithmetic

You can add/subtract/multiply/divide filter components to each other. This enables you build scans like “Stocks gaining x% today” (x refers to your custom percentage value, eg: 5%). The below snippet, uses 2 operations(*, greater than) one of which is a Arithmetic operation(*). Click to view an example used for Gap up/down scans.

Yesterdays close * 1.03 greater than Today's close
Crossovers

Often you want to filter stocks based on certain breakouts, which could be a result of a stock closing below a value yesterday but closing above it today(signifying a cross over). [value here refers to any indicator or stock attribute].

Close crossed over SMA(close, 50)

The above would filter Stocks that closed below the 50 day SMA yesterday, but closed above 50 day SMA today(crossing over from below yesterday).

Steps to add operations to a stock attribute:

Operation filter

Example of a operation being performed to filter stocks closing above 5,000. Note, that after adding a operation, a filter on the right is automatically added(number constant by default), which you can change, by clicking on it.

To add further operations, again click on “….”.

Multiple Filters & Filter Behavior

Normally you’d want to have multiple filters specified in a single scan. To add more than a single filter again click on the filter icon  and select a new filter to add. You can also change the behavior of multiple filters added, i.e Do you want “all OR any” of the filters to “pass OR fail”?

Multiple Filters

Filter stocks that have a “volume greater than 10,000” & “RSI indicating an overbought region, greater than 70”, also notice the behavior of the filters indicating whether ALL/ANY of the filters PASS/FAILS.

Sub-filters/Grouped filter

At times you may need to group filters & their behavior, eg: Find stocks having a volume greater than 5,000 AND also resulting in either a breakout from [200 SMA OR 100 SMA].

Multiple Filters

Translates to filtering stocks that have a volume greater than 5,000 AND ( close crossed above SMA[200] OR a close crossover above SMA[100] ).

Notice how the sub-filter group had its behavior changed to pass ANY of the two filters below it ( SMA[100] OR SMA[200] ) crossover), whereas the outer filter still requires ALL filters below it to pass, this ensures, both the volume AND the sub-filter(passing ANY of the 2 SMA’s to pass) PASS.

Functional Filters(Min/Max)

Min & Max filter components are special in way that they accept other filter components as their parameters. These functions are useful to calculate the highest/minimum values over the given number of days. These functions take 2 parameters as follows:

  1. Period – denotes the periods over which this function shall perform its computations
  2. Measure(stock attribute, indicator) – denotes the measure against which the computation shall be performed.
Multiple Filters

To find stocks that touched their 52-week high today. Notice after selecting the Max(period, measure) function its required parameters are automatically added, to change the parameters to 252 & High, simply click on the parameters. 

Any measure(indicator, stock attribute) can be selected as a parameter, “High” was choose specifically to relate to stocks at 52-week high, consisting of 252 trading days.

Examples

We’ve complied a few examples to further help you design your custom scans. Click here to view the videos for more example scans.

Overbought filter:

List stocks that have their RSI(14 day) change its zone from above 70 yesterday to below 70 today, indicating they are likely to see further downside ahead.

Overbought
Oversold filter:

List stocks that have their RSI(14 day) change its zone from below 30 yesterday to above 30 today, indicating they are likely to see an upmove ahead.

List oversold stocks
Overbought OR Oversold filter:

List stocks that have a crossover OR a crossbelow in ANY of the above 2 zones.

List overbought OR oversold stocks
Gapup filter:

Listing stocks that have a open greater than 3% of its yesterday’s close. If a stock closed at 100 INR yesterday, Its open today should be greater than 103, denoted by “1 day ago Close * 1.03”

List gapup stocks
Gapdown filter

Listing stocks that have a open less than 3% of its yesterday’s close. If a stock closed at 100 INR yesterday, Its open today should be less than 97, denoted by “1 day ago Close * 0.97”

List gapdown stocks
Bullish stocks filter:

Often a crossover of 50 day SMA over 200 day SMA is treated as a bullish signal.

List bullish stocks

We hope this guide builds the groundwork required by you for creating your own custom scans & helps you take informed trading decisions.

23 thoughts on “Scanner User Guide”

  1. Absolutely marvellous exercise launched by Chartink …….I am regular user of Chartink EOD charts for a long period will absolute comfort…….though I have vaguely understood wht u had conveyed, I would request you to demonstrate each of the options given above by way of an example of real stocks…….that would really help in guiding us…….if u need more people to attend this tutorial online…..there are many many people in my group……pl guide as per yr requirement…..Thanks

  2. Respected sir,
    I am a regular user of Chartink EOD charts. I visit daily for research and study stocks. According to me this is best website for investors and traders.

  3. If I run a simple query like “Latest Close Greater than number 500”, nothing happens.

    However, when all this starts working, it would be a fantastic tool.

    One suggestion: Can you provide a facility to apply these filters to NIFTY stocks, JUNIOR NIFTY Stocks, CNX IT Stocks, etc?

  4. Dear chartink team !
    Thanks a lot for new scanning tool.

    My query: how to scan 3 candles at a time(p1, p2, p3) .
    example: p2 close price is lower than p1 close price.
    p3 close price is higher than p2 close price.

      1. Akash ji,

        It works ! Thanks for your quick response.
        (Latest Open less than 1 day ago open
        1 day ago open less than 2 days ago open
        Latest open greater than 1 day ago close
        1 day ago open greater than 2 days ago close
        latest close greater than 1 day ago close
        1 day ago close less than 2 days ago close
        latest close greater than 2 days ago close)

        2nd query: How to apply this method on weekly & monthly chart for all data?

          1. Akash ji,
            (( Latest Open less than 1 day ago open
            1 day ago open less than 2 days ago open
            Latest open greater than 1 day ago close
            1 day ago open greater than 2 days ago close
            latest close greater than 1 day ago close
            1 day ago close less than 2 days ago close
            latest close greater than 2 days ago close))

            This method is working eod, But live it jumps p4 candle, how to resolve this problem ?

            I would like to have this method live trade before 3.30 pm.

  5. hii sir i need your Help please tell me what can i do… i have to set a new scanner so plzz help me for set a EOD scanner,
    condition 1 st….. 1st candle made Low, 2nd candle made Low But 3rd candle open and Low Above 1st candle Low minimum 0.05 paisa.
    condition 2nd….. 1st candle made high, 2nd candle made high But 3rd candle open and high below 1st candle high minimum 0.05 paisa.

    if you available for set this new scanner plzz contact me on my mail id vishaltade20@gmail.com

  6. Very good work chartink by providing scanner.. I would like to know is it possible to get sma 50 crossed above sma 200 before market close for the particular day? Because it ll be helpful to do profit book next day early morning

    1. We’re working on integrating the scanner with market hour candles(15 minute delay), it shall be ready to use in the month of Feb’16

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