The thread explains my momentum scanner and how to build it in #TradePoint software.
@Definedge
Conditions :
1)EMA 8 above EMA 34 and rising
2)Candle close above previous 5 candle high
3) RSI above 60
4) Volume above previous 5 candles
5) ADX above 30
1/n

Select Double Moving Average 8 and 34
2/n
Under Patterns select Close Above Prev Bars
3/n
Qualify the candle close
4/n
RSI above 60
5/n
Volume above prev n candles
6/n
Select Single Moving Average and select average rising for 8ema
7/n
ADX above 30
8/n
All conditions must be true. Save the scanner.
9/n
If we run it on F&O stocks (under EOD scanner) these are the shortlisted rock today
10/n
Let us look at SRF chart
11/n
Let us run it on real-time scanner on 15 min time frame (since market is closed now it will show with reference to the last candle in 15min) we get the following stocks
12/n
Let us look at Hindalco chart
13/n
This scanner will indicate momentum stocks and for entry exit etc I use P&F charts and trade intra day. While running the scanner we can specify the TF (like daily/weekly etc) in EOD scanner. Useful to run it on weekly or monthly for investment purposes.
14/14

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