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Market scanner package
Professional traders pay attention to particular situations in which they feel it is worth entering into a position. In order to do this simultaneously in many different markets, they make use of special software to scan and screen the markets. This package contains of three different entry scenarios, allowing the private trader to search for these opportunities on stock indices, commodities and forex pairs.
The fundamental concept of all three trend following signals is to open positions on contracts that show additional potential: either due to higher volatility, an increase in momentum or a continuation of the trend after a pullback.
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The market scanner in detail
This package includes:
- a signal based on an increase in volatility
- a signal based on an increase in momentum
- a signal based on a pullback above or below the Bollinger bands
The user can freely set the parameters of the indicators.
The package can be used for all financial instruments such as indices, forex and commodities.
Good trades require movement. The Volatility scanner helps to detect this condition. Once the volatility of a particular instrument increases substantially, a signal in the direction of the trend is generated. So a trader will enter in the direction of the trend, once an additional impulse is given. That way, the trader avoids staying in quiet sideways markets and focuses on profitable trading opportunities.
How do I find a good opportunity to enter favorably within an existing trend? Within a trend, there will always be corrections und pullbacks that can conveniently be used as entry points. This scanner uses a trend filter to determine the overall trend and the setback to the Bollinger bands act as entry signals.
If you are not yet familiar with NanoTrader Full please visit the quick start page.
Setting up and running the screeners
Open the Screener folder via the WorkspaceBar to get an overview of all the available Screeners. Right-click the desired Screener and click "Run".
Once the process has completed, the evaluation overview shows all the scanned instruments.