The Scanner is a discovery tool that lets you scan thousands of stocks across equities, currencies, futures, options and commodities to find top performing stocks according to user-defined search queries. The proprietary technology features 70+ indicators, Advance Math Functions, Lightning speed results, My scans, Discover scans, Custom Basket, Scan to Buy/sell integration, and Scan to Deployment options to enable disciplined trading.
Scanning is different from Backtesting¶
In Backtesting, the strategy used relies on historical data to study a stock’s previous behaviour and predict future movements. In scanners, the system uses a mix of historical data and near-real-time data according to the time interval to scan stocks that meet the parameters of a specific search.
In a new scan, you can choose to discover performing stocks from Nifty 50, Nifty 100, Nifty 500, MCX, CDS, Energy, Communication Services, Materials, Consumer Discretionary, Consumer Staples, Industrials, Health Care, IT, Financials, Utilities, Real Estate,and Bank Nifty & Nifty weekly and monthly options while capping the time frame between 1 Minute to 1 Day. The Chart Types available for screening includes Candle Sticks and Heikin Ashi.
The biggest universe on which a scan can be run is Nifty 500.
Candlesticks and how they work¶
Scanners cumulates historical data and near real-time data sets. This lets you use historical data and near-real-time data to analyze candlesticks to gauge the performance of chosen stocks.
These mathematical Indicators include predefined metrics to help you identify a bullish, bearish or sideways trend.
Example: If you want to find stocks in Nifty 500, where Supertrend has become bullish and is showing Buy in last 5mins, then you can simply say in scanner "Close(0) crosses above Supertrend(7,3,0)" and bam, in less than a second, it will show you all the scrips which have met the criteria.
The Assist feature makes it easy for you to automatically insert popular Indicators, along with comparator and other indicators to compare with. The indicator data base includes SuperTrend, RSI, EMA, SMA, PSAR, Bollinger Band, Volume, William R%, On Balance Volume (OBV), and Money Flow Index among others.
Two ways to choose to a math function
The easy way is to turn on the Assist feature to auto-fill chosen indicator. In this method, the variables are filled with default values. These values are pre-set specific to the indicator. This method is best for novice traders or for those who are using said indicator for the first time and are trying to understand its functionalities.
The other way is to manually fill the indicators, math functions, and comparators with preferred values as shown above.
We urge you to tweak values in chosen indicators after getting familiar with its functionalities and nature of results. This helps you use the indicator in a personalized way and find the value set that is delivering the best results according to you.
Scan and Save¶
After the scan is run and the resulting stocks are displayed, you can either choose to save all the stocks or specific stocks and save them in a basket. A basket allows easy access to scanned stocks in future and you can save scans according to the nature of scan conducted.
If you run a scan to find performing stocks in Nifty 50 with SuperTrend, you can save it as Nifty 50 – SuperTrend to remember it easily.
Baskets can also be used directly when creating a new backtesting strategy. While creating a strategy, instead of selecting stocks individually, you can choose a basket to run a strategy on stocks in that basket.
We have provided a list of 80+ scans made for both bullish and bearish trend. You can hover your mouse over to the scan that you like, click on it and it would take you to the scan window with all the condition entered. To save this in your account you just need to click on Scan On mention a name and then click "Copy". You can also click on the "☆" to mark a scanner as your favourite.
My Scans ¶
My scans list all the scans that you have created or copied and saved while running it. Each scan list its name on the left side of the page and the scan conditions just below it.
You can click on the ":" button to get a option to edit, copy, take the scanner live and delete the scanner.
Live Scans ¶
When you manually click and run a scan, you get a list of instruments which matches the search criteria at that particular time. Users can save scans and run those saved scans whenever they wish to get an updated list of stocks that meet those criteria. The scan results are valid for that point of time. To get an updated list of stocks matching that criteria, users have to run their preferred scans as and when required.
Now, Streak also has the Live-Scan feature. With this, users can now take the scan Live, which means, in the background the scanning engine will keep scanning for stocks that meet the search conditions, without having to run the scan again. If and when such stocks are found, a notification is sent to alert the user about the updated list. You need to push the scans 'Live' to do this.
Once you push a scan 'live', you no longer have to run the scan manually to get updated results. Streak tracks the price movements and sends alerts when all the conditions specified in a scan are met in real-time. Live scans sends a notification when:
- The scan result list is updated i.e. when there is a change in the list of the scrips that was obtained when it was run initially before pushing it live.
- In case there was no result at the time of the initial scan, once a single scrip matches the condition, an alert is sent to the user.
You can also set the frequency of the alert based on your requirement. When you select the scan and click on "Take Live", either in the New scan or My Scans page, you will see a popup window with the option to select the interval after which your conditions will be checked.
Live Scan gives you one click actionable notification through which you will be able to place orders directly in the market.
- Once a signal is generated, we try to send this signal to the user's device over the internet. The delivery of these alerts are subject to network conditions of the user, internet services and technical issues.
- By using this service, the user acknowledges they understand that the alerts' delivery is dependent on many factors such as the internet connection of the user, location, time of the day, server load, data availability, etc.
- We advice users to be logged in to streak.tech, keep it open in their browser and maintain an uninterrupted fast internet connection to their devices to see the best alerts delivery.
- Streak relies on third party services for market data, eg: ticks, OHLCV, etc. If these services are down due to unforeseen circumstances or experience a down time due to various technical/non-technical issues, Streak might not be able to generate and deliver the actionable alerts.
- Upon clicking on Buy/Sell button on the order window, based on users network speed, there can be network latency, and any rapid clicks on the Buy/Sell button through same or different windows can lead to multiple order placements. Users take full responsibility on making sure the actions on the notifications are their own actions and are fully aware of their positions and strategy status when on the Buy/Sell button.