The Scanner is a tool that allows large amounts of market data to be analyzed in real time to flag financial instruments that meet certain user-defined parameters. The scanner is particularly useful in the stock market, as it makes it easy to identify which stocks are performing better and worse or which stocks are trading the highest and lowest volumes.
The VolSys Scanner also allows you to add resolutions to which you can apply indicators such as moving averages, price action indicators and others that will be discussed in more detail later.
INDEX
Settings-of-Use
To open a scanner click on the New from VolSys and select Scanner. At this point you choose the tools to display from the list of various subscribed symbols, and pressing select in the lower right corner will open a new Scanner. To select multiple tools at the same time you just need to hold down Ctrl.
By default a scanner will open with the list of chosen financial instruments with their opening, high, low, close and percentage change prices.
Clicking on the little wheel in the upper right corner of the scanner è you can access the Settings, where you will be able to; be able to add and edit resolutions, put the scanner in first, manage the symbol list, edit the graphics settings, and load or save the template.
Resolutions
Add-resolution
Moving the cursor in the Resolutions item will open; a drop-down menu containing the'list of all resolutions added to the scanner, by default there will be only the daily resolution with the Print Values indicator.
Clicking on Add Resolution will open the Resolution Settings panel in which you will be able to determine the resolution parameters you want to add.
To remove a resolution you will just need to right-click mouse the resolution you want to remove from the list of all added resolutions.
Resolutions allow the scanner to run a series of graphs internally for each symbol, to which è indicators can be hooked. So adding a 5-minute resolution with 10 days loaded as in the example in the figure will make the scanner internally run a 5-minute chart for all the instruments added to the scanner.
For further clarification on the parameters involved, please refer to the link "Chart".
Add-indicator
Once the desired resolutions have been added, from the'list of resolutions it will be possible to edit their settings again and add Indicators.
Just like in the charts, you will open the list of available indicators and clicking on the + button next to each of them will add the indicator to the resolution.
Clicking on the small wheel beside the indicator will access the indicator settings.
Indicators
Print Values
The Print Values indicator is present by default in the daily resolution and cannot be deleted.
In addition to the opening, closing, maximum, minimum, and percentage change price information, it allows you to enable additional values. To do this, access the indicator's settings and select Text in Series style to enable or Ignore to disable the value.
In the example in the figure, the Volumes totals traded on the stock, the Trades and the upward and downward suspension prices were also enabled.
In particular, as the price approaches suspension the cell will highlight purple, while if the stock is suspended the row will highlight orange.
Alert Levels
Lets add two support levels and two resistance levels for each symbol and enable the corresponding sound alert and popup message.
Specifically, to add a price level double-click directly in the scanner cell you want to enter, it will open a new window where you can enter the price level, then press Save to confirm.
Once the desired support and resistance levels have been entered, to enable sound notifications and popup messages, one must go into the indicator's settings.
For an in-depth explanation on how to enter a sound notification on VolSys please refer to the article on Adv. Time and Sales.
In the Serie section, you will be able to change the background color of the support and resistance columns.
Institutional [To be completed]
Moving Average
Allows you to enter a moving average at the resolution of your choice.
By accessing the indicator settings it will be possible to define on which database to apply it (Maximum, Minimum, Opening, Closing, Mid Price), the number of Periods and the moving average (Simple, Exponential, Triangular, Weighted).
In the Series section, you can change the background color, as well as change the name displayed in the scanner.
Please note that if you want to enter a 21-day moving average you will need to apply the indicator on a daily resolution.
Perfomance
Lets view the perfomance weekly, monthly and yearly, 3Y and 5Y of symbols added to the scanner.
Accessing the indicator settings, in the Series section you can change the background and text color, as well as enable or disable the series by choosing either Text or Ignore in the Series Style section, respectively.
Price Action
Allows you to easily identify supports, resistances and congestions of your chosen resolution.
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Spread Marker [To-complete]
Swing Marker
The Swing Marker indicator is part of the plugin VolAnalyzer and allows you to obtain various information regarding the price action swings of the chosen resolution.
PA
The column shows the type of Price Action going on the instrument.
Specifically if there are 3 bullish or bearish triangles the indicator is respectively indicating that there è a bullish or bearish price action and a breakout is recorded.
If the'last triangle è however, in the opposite direction indicates that you è in pullback from the primary trend indicated by the first two triangles.
When the background of the cell turns yellow it indicates that you è at the end of pullback and in potential restart.
Finally two triangles of opposite sign indicates that you è in trading range.
Ext.
Indicates the range as a percentage of the average. If è below 100% indicates that the è extension is below average, while if è above 100% indicates that extension is above average.
This indication is useful in that if, for example, you are looking for a counter-trend trade you will go for when it is overextending, conversely if you want to go continuously it will be preferable to do so when the extension is below average.
Retr %
It shows the retracement percentage of the last made swing point.
Effort
Indicates the effort in terms of traded volumes of the current extension as a percentage of the average, this allows us to identify No Effort (NOE) and No Result (NOR) situations, typical of the VolAnalyzer.
Specifically, there is a situation of No Effort when in a movement with large extension there have been few volumes.
There is a situation of No Result instead when despite the fact that there have been many volumes there è has not been a relevant price extension.
D_Vly
The Daily Voltatility indicates as a percentage how volatile today's session is compared to the average.
Look at the figure below, in which the Swing Marker indicator has been added to the 55-range resolution.
If you look at the stock Tenaris you can notice through the scanner a number of information, namely, it has a positive Price Action, it has a 270% extension above the average extension, which forò è is accompanied by high volumes (Effort 256%), è on swing highs (Retr 0%) and the hourly session è less volatile than the average.
Watch the chart beside the scanner for confirmation.
Volume Average
Lets you identify, in real time and based on the resolution you choose, whether an instrument is traded more than the average of the last n days.
Specifically, if you add in a 30-minute resolution, the indicator samples every 30 minutes and compares that to the average volume traded in the same 30 minutes of n past days.
For example, if you look at the figure below, you can see that the A2A stock from 11 to 11:30 a.m. is trading 319% more volume than it traded on average during the same time over the past 10 days.
It can also be noted that the simple average applied to volumes fails to capture this abnormal increase, as it is affected by, for example, opening volumes.
So applying this indicator to resolutions such as the 5-minute or 30-minute allows the user to immediately identify where there is the most or least interest in the current session from the market.
By accessing the indicator's settings, it is possible to change the average length, define the database for the average (Volume, Order, Aggregate Trades), apply minimum and maximum filters to the chosen database, and change other settings.
In the Series section, you can change the text and background colors, as well as enable averaging on Volume executed in Bid and Ask.
Sort Columns
Clicking on the'header of each column you can quickly sort the scanner symbols, thus going to highlight the stocks that are posting positive or negative performance positive, or the stocks that are trading the highest volumes.
By selecting the little square in the upper right-hand corner of the scanner with the same color as the charts in your work plan you can link to it. By doing so you can move from one symbol to another quickly by double-clicking with the left button of the mouse on the symbol in the scanner.
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