The BIG List of Powerful Screener Formulas (Charts-Based)

create jackpot stock screeners

This is an evolving post that’ll keep updating based on feedback and research.

So keep checking back for more:

RULES YOU MUST FOLLOW

1.Never rely on what any screener throws up without checking what your trade setup says. You can use this trade setup if you haven’t developed one. At least 2 indicators must confirm the trend.

2. If possible, add a Volatility indicator while studying the stock. Buying or Shorting during periods of low volatility can yield big gains, while trading during periods of high volatility may or may not succeed.

3. I use Chartink for creating screeners. The free version is 5 minutes delayed, therefore be very careful if you are working intraday or short term.

4. Chartink default candle period is set to 1-Day, and therefore you must watch shorter (15M, 30M, 1H) periods in the live market to know if the trend has changed and the longer 1Week period to predict the continuity of the trend.

5. Use technical screeners for Indices and Future stocks. NOT FOR CASH STOCKS.

6. For Cash stocks use Fundamental Screeners and then confirm trend by checking charts (use the setup above).

7. Do not shortlist penny stocks or stocks that are characterized by low volumes or are prone to circuits.

LIST OF SCREENERS BASED ON TECHNICAL INDICATORS

  1. ADX DI+ CROSSES OVER ADX DI-

    Latest 

    Crossed above 

    ADX DI Negative(14)

The ADX is a powerful indicator and when the DI+ crosses above the DI- line, it implies that highs are getting higher and the lows are getting lower as well.

It is a bullish signal. (Works well when trend is bullish)

For bearish stocks, turn it around to

ADX DI- CROSSES OVER ADX DI+ (Works well when trend is bearish)

2. EMA CROSSOVERS

how to create a screener

When a shorter period EMA crosses a longer period EMA, it indicates bullishness.

There are many popular configurations.

In the example above, I have used EMA 5 and EMA 10 because 5 represents the number of trading days in a week. 10 is 2 weeks.

The shorter crossovers are to be used for 1 day trading while the longer crossovers can be used for short-long term trading or investment.

Here are some other popular EMA crossovers:

10 EMA crosses above 20 EMA (swing trades)

20 EMA crosses above 50 EMA (short-medium trades)

50 EMA crosses above 200 EMA (medium-long trades) (this crossover is also referred to as the Golden Cross)

For bearish stocks, reverse the conditions (Crosses Below, instead of Crosses Above).

3. SIMPLE INTRA-DAY SCREENER

Here is one tried and tested formula that has been back tested for intra day trades.

It has been written by Rajen Vyas – a very talented technical chartist and helpful person, whom you must follow on Twitter.

screener based on price and EMA

The formula is very simple.

When the price of a stock is above the its 50 DMA, and if the price crosses above its 5 DMA, it is an intra-day buy.

Consequently, when the price of a stock is below the its 50 DMA, and if the price falls below its 5 DMA, it is an intra-day sell.

Candle Periods: Use 30 Minute for Indices and 1 Hour for FNO stocks

Expected gains: 2%; SL: 0.5%.

Create your own screener by applying the configuration in the image above. You can reverse the conditions to discover bearish stocks.

Accomplished TA Rajan Kamboj, has this to add to to this formula:

To avoid whipsaws one more condition can be added

DMA 5 and DMA 50 should be at least 2 % apart

This is how you can add this condition:

how to avoid whipsaws

4. VOLUME BREAKOUT

Here is a direct link to the scanner. There is no need to write the formula here and reinvent the wheel. You can copy it to your dashboard and play around with the configurations though.

(This post will evolve over time as I keep adding more screeners. Stay tuned.)

 

 

11 Comments on "The BIG List of Powerful Screener Formulas (Charts-Based)"

  1. Sunil Idnani | June 29, 2018 at 6:40 pm | Reply

    Excellent compilation truly appreciate…… Sir what is the intraday time frame to be used for Rajen Vyas’s method?

  2. Very well explained

  3. thanks sir, i am a beginner,should i start with these steps???

  4. Aman Singhal | June 30, 2018 at 9:58 am | Reply

    Sir if time permits u…please write a post on Fibonacci time zone…I tried to get some information on it but there was no good material available.
    Thanks for sharing ur blogs; each one is informative and helpful

  5. Sir, thanks for the screener, can you suggest for consistently dividend paying logic

  6. Sir, How to set default candle period one day in Chartink. I can’t able to find this in Chartink. Please Help.

  7. Excellent sir…I am fan of yours .Sir one thing I marked in Chartink by the time I pick the stock it’s almost up/down again picking correct one is really difficult sometimes I get stuck and loss booked
    Sir what if after screening the stock didn’t move in that time frame

    • sunil.tinani | July 1, 2018 at 2:16 pm | Reply

      Check EOd at Chartink and apply Formula # 3 in live market (investing.com or any other tool you use)

  8. Sir..am in market for more than a year..your info is highly valuable..keep rocking..thabks for sharing..

Leave a comment

Your email address will not be published.


*