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Informational: Market Screener: How to use
Continuing with my objective of shedding light on the often overlooked and undervalued functionalities offered by the platform, I am delighted to delve into the market screener. This sophisticated tool stands as a testament to TradingView's commitment to empowering traders and investors by providing them with a comprehensive solution to efficiently navigate through an extensive array of financial symbols. By leveraging the market screener, individuals can effortlessly identify and unearth assets that align with their specified criteria and prerequisites.
TradingView offers users two simple yet effective avenues to effortlessly access the powerful market screener tool.
🔹1st : The first method involves navigating the TradingView website, where users can easily locate the "Product" tab and select the desired option, such as "Screener" for Forex, Crypto, or Stock
🔹2nd : The first method involves navigating the TradingView website, where users can easily locate the "Product" tab and select the desired option, such as "Screener" for Forex, Crypto, or Stock.
Once you've selected your desired screener, maximize the windows and you will see a list of options and features. Lets explore them.
NB: Depending on the screener you currently have selected you may have more or less options. For simplicity we are using the forex screener. But the general features are applicable regardless of the screener selected.
1: This functionality enables you to navigate a range of preconfigured parameters, including options such as "trend following" and "oscillators." As a result, the metrics will be dynamically adjusted to reflect the values associated with the chosen preset.
2: This section displays the metrics utilized for filtering purposes. By hovering your cursor over a particular metric, you can modify its settings for future use. For instance, you can select "BB," representing Bollinger Bands, and define specific values for the desired BB configuration. It is worth noting that filtering can only be applied to price data that exceeds the median line, as an example.
3: This section allows you to modify the indicators utilized for the filtering process. Through this option, you have the ability to add or remove filters according to your requirements.
4: This section enables you to apply filters to the symbols or tickers being utilized. As you are currently utilizing the forex screener, you have the ability to filter the symbols based on categories such as major pairs, minors, and exotics. This allows you to focus specifically on the desired subset of forex trading instruments.
5: Offers an advanced filtering feature that provides you with a wide range of over 50 options. These options are designed to assist you in refining your search results to precisely match your specific criteria. This advanced filtering capability enables you to locate the exact information or data you are seeking with a higher level of precision and customization.
NB: You also have the flexibility to adjust the timeframe for which you are applying the filters.
🔶How to practically use this in your trading.
During your preparations for the trading week, you may want to create a watchlist of stocks or currency pairs to monitor and annotate. In this scenario, you are particularly interested in currency pairs that are currently exhibiting oversold conditions on the Relative Strength Index (RSI) below 30, and are trending below a 50-day moving average. You specifically want to focus on major and minor pairs.
By inputting these criteria into the screener tool, it will generate a list of currency pairs that meet these requirements. This allows you to easily identify the pairs that align with your desired conditions and further analyze them for potential trading opportunities throughout the week.
and just like that the screener has returned the pairs that meet my requirements
Please be aware that the screeners for cryptocurrencies, stocks, and forex on TradingView share a similar structure and functionality. Consequently, the information provided in this publication will be applicable to all three types of screeners. However, it is worth noting that TradingView has recently introduced the Stocks Screener 2.0, a more advanced version with a broader range of metrics. In the future, I will be publishing another guide specifically dedicated to the Stocks Screener 2.0, which will explore its enhanced capabilities and additional features in detail.
Another noteworthy feature to include in this publication is the Hotlist feature, specifically designed for stocks. This feature provides a pre-made watchlist of stocks that is updated daily. If you are seeking a convenient and ready-to-use watchlist of stocks for your trading activities, the Hotlist feature proves to be extremely beneficial. It saves you time and effort by curating a list of potentially interesting stocks on a daily basis, ensuring that you stay up-to-date with the latest market opportunities without the need for manual research and compilation.
TradingView offers users two simple yet effective avenues to effortlessly access the powerful market screener tool.
🔹1st : The first method involves navigating the TradingView website, where users can easily locate the "Product" tab and select the desired option, such as "Screener" for Forex, Crypto, or Stock
🔹2nd : The first method involves navigating the TradingView website, where users can easily locate the "Product" tab and select the desired option, such as "Screener" for Forex, Crypto, or Stock.
Once you've selected your desired screener, maximize the windows and you will see a list of options and features. Lets explore them.
NB: Depending on the screener you currently have selected you may have more or less options. For simplicity we are using the forex screener. But the general features are applicable regardless of the screener selected.
1: This functionality enables you to navigate a range of preconfigured parameters, including options such as "trend following" and "oscillators." As a result, the metrics will be dynamically adjusted to reflect the values associated with the chosen preset.
2: This section displays the metrics utilized for filtering purposes. By hovering your cursor over a particular metric, you can modify its settings for future use. For instance, you can select "BB," representing Bollinger Bands, and define specific values for the desired BB configuration. It is worth noting that filtering can only be applied to price data that exceeds the median line, as an example.
3: This section allows you to modify the indicators utilized for the filtering process. Through this option, you have the ability to add or remove filters according to your requirements.
4: This section enables you to apply filters to the symbols or tickers being utilized. As you are currently utilizing the forex screener, you have the ability to filter the symbols based on categories such as major pairs, minors, and exotics. This allows you to focus specifically on the desired subset of forex trading instruments.
5: Offers an advanced filtering feature that provides you with a wide range of over 50 options. These options are designed to assist you in refining your search results to precisely match your specific criteria. This advanced filtering capability enables you to locate the exact information or data you are seeking with a higher level of precision and customization.
NB: You also have the flexibility to adjust the timeframe for which you are applying the filters.
🔶How to practically use this in your trading.
During your preparations for the trading week, you may want to create a watchlist of stocks or currency pairs to monitor and annotate. In this scenario, you are particularly interested in currency pairs that are currently exhibiting oversold conditions on the Relative Strength Index (RSI) below 30, and are trending below a 50-day moving average. You specifically want to focus on major and minor pairs.
By inputting these criteria into the screener tool, it will generate a list of currency pairs that meet these requirements. This allows you to easily identify the pairs that align with your desired conditions and further analyze them for potential trading opportunities throughout the week.
and just like that the screener has returned the pairs that meet my requirements
Please be aware that the screeners for cryptocurrencies, stocks, and forex on TradingView share a similar structure and functionality. Consequently, the information provided in this publication will be applicable to all three types of screeners. However, it is worth noting that TradingView has recently introduced the Stocks Screener 2.0, a more advanced version with a broader range of metrics. In the future, I will be publishing another guide specifically dedicated to the Stocks Screener 2.0, which will explore its enhanced capabilities and additional features in detail.
Another noteworthy feature to include in this publication is the Hotlist feature, specifically designed for stocks. This feature provides a pre-made watchlist of stocks that is updated daily. If you are seeking a convenient and ready-to-use watchlist of stocks for your trading activities, the Hotlist feature proves to be extremely beneficial. It saves you time and effort by curating a list of potentially interesting stocks on a daily basis, ensuring that you stay up-to-date with the latest market opportunities without the need for manual research and compilation.
C Nicholas Downie
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.