Trend scanner – Find stocks in Uptrend or Downtrend

As wise men always say , Trend is your freind.

Those who have burnt their hands in trading , they clearly know why its always right to be on the side of the trend of stock. Once you bring EGO in picture and hold on to trades which are against markets trend, you ultimately end up blowing up your account.

What if there is some tool that helps you identify the trend of stock correctly. What if you can see the trend of stocks in different time frame and learn how to use it effectively to trade stocks in direction of trend?

Trend scanner is a tool that will help you trade stock in the direction of the Trend . It also indicates the strength of the current trend.Lets see how can we use it

Once you open Trend scanner , you can immediately see multiple columns like 5 minute trend , 15 minute trend , 1 day trend , ADX , RSI , VWAP , 20EMA , Supertrend etc. By default 15 min time framne is selected but you can change by clicking the timeframe button

The columns use a our custom algorithm to give you trend for the stock in the corresponding timeframe. When you want to do scalping trading , prefer it to do in the direction of 5 minute trend. When you want to hold stocks for 1 to 2 days , you can prefer using 15 minute trend.

The Value of column ADX indicates strength of Trend. ADX value of 30 and above and increasing will indicate that the stock is in strong Trend (if bullish the uptrend is strong and if 15 min trend is bearish then it means downtrend is strong)

Now lets try to understand how to interpret 5min , 15 min and daily timeframe trend and how to use it along with Average directional Index , Relative strength Index , 20 Exponential moving average and Volume weighted average price (VWAP)

Trend SCanner - Find stock trend

Leave a Reply

Your email address will not be published. Required fields are marked *

Intraday trading option trading

Option Strategy Builder

Option strategy builder is a tool by intradayscreener.com to help you build option strategies for any stocks in just few clicks. Option trading is very popular these days due to limited risk strategies which helps to manage risk of all traders. How to use Option Strategy Builder To use Option strategy builder, you need to […]

Read More
Intraday Scanners

Range Breakout Scans

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 […]

Read More
Intraday Intraday trading technical analysis

How to select stocks for intraday trading – beginners guide

One of the simple ways to select stocks for intraday is to trade on stocks which have high volume and high Open interest gainers and losers . Open interest means total number of outstanding futures and options contract all combined. If the stock price is moving up with increase in open interest , then traders […]

Read More
%d bloggers like this: