Price action is a trading methodology in which we primarily consider price as the purest form of indicator. In price action strategy, we just see price and focus on important levels. Price action trading scanner helps to select stocks that are showing breakouts or breakdowns
Whenever we see price action trading strategies, we find our important support and resistance levels where the price is likely to take support or resistance. Once we find those levels, we take entry.
Two major types of entries are
1> Breakout / Breakdown Entry
2> Pullback Entry
What is Price Action Scanner
Price action trading strategy by Intradayscreener.com is meant to figure out stocks that are breaking out on 5 minute and 15 minute time frames. Such stocks start to move up and close above the highs of previous many candles with volumes, thereby indicating price action has started to happen.