What is Range breakout scanner ?
Range breakout scanner is a tool which helps you to identify and select stocks for intraday trading . Range breakout trading strategy is a strategy in which stocks break out of a trading range like 30 day range , 90 day range etc.
When stocks move out of a trading range, they clearly are in strong momentum and when such breakouts happen with volume, it gives very good move in Intraday as well.
How to select stocks for intraday trading using Range breakout scans on Intradayscanner.com ?
Step 1: Open Range Breakout Scanner
Step 2 : Click on 30 days range breakout or 10 days range breakout depending on markets
Step 3 : Click H/L Change % column and sort it on basis of increasing or decreasing order depending on whether you want to go long in breakouts or go short in breakdowns.
Step 4 : As soon as a fresh stocks breaks range and appears in List , Open chart and check basic parameters like VWAP , Open interest (if FNO stock ) and pivot points
Step 5 : Prefer to go long in stocks having high Open interest and crossing R1 pivot with volumes.
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