C
reating a stock scanner in TrendSpider to recognize an uptrend involves setting up conditions based on technical analysis indicators that signify an upward movement. Here are the steps to create an uptrend stock scanner in TrendSpider:
- Open TrendSpider: Log into your TrendSpider account and navigate to the 'Market Scanner' tab.
- New Scanner Setup:
- Click on the "Create New Scanner" button.
- Name your scanner something descriptive, like "Intraday Uptrend Scanner".
- Define the Intraday Uptrend Criteria:
- Moving Averages: Use shorter-term moving averages for intraday trends.
- Condition:
5 EMA > 20 EMA
- Condition:
- Price Above Moving Average: Ensure that the stock price is above a key moving average.
- Condition:
Close (15-minute) > 20 EMA (15-minute)
- Condition:
- Higher Highs and Higher Lows: Check within a shorter time frame.
- Condition: Current low > Previous low (15-minute) and Current high > Previous high (15-minute)
- Relative Strength Index (RSI): Use a shorter period for RSI to capture intraday momentum.
- Condition:
RSI(14, 15-minute) > 50
- Condition:
- ADX Indicator: Use a shorter period to confirm the strength of the intraday trend.
- Condition:
ADX(14, 15-minute) > 25
- Condition:
- Moving Averages: Use shorter-term moving averages for intraday trends.
- Add the Conditions:
- Click on the "Add Parameter" button to add each condition mentioned above.
- For moving averages, select the appropriate indicator (e.g., EMA) and set the period.
- For price conditions, choose "Price" and set the comparison (e.g., Close (15-minute) > 20 EMA (15-minute)).
- For higher highs and lows, use the 15-minute or other suitable intraday time frames.
- For RSI and ADX, select the indicator and set the threshold values for the intraday periods.
- Combine Conditions:
- Use logical operators (AND) to combine all the conditions.
- Ensure all conditions must be met for a stock to be considered in an intraday uptrend.
- Save and Scan:
- After setting up all the conditions, click on "Save Scanner".
- Run the scanner to identify stocks that meet the intraday uptrend criteria.
Example of Intraday Uptrend Conditions:
5 EMA (15-minute) > 20 EMA (15-minute)Close (15-minute) > 20 EMA (15-minute)RSI (14, 15-minute) > 50ADX (14, 15-minute) > 25
These conditions, when applied, will help you identify stocks that are currently in an uptrend within the current trading day on a 15-minute time frame. You can adjust the time frames (e.g., 5-minute, 1-minute) based on your specific trading strategy and needs.
Fun Tip: If you use the 'add a GPT condition' option and type in the lines in the example above, it will automatically select the right parameters for you. You have to add one line at a time.
More from
Day Trading
category
View All
