Happy to share a & Multi-Function Custom Screener with Table-Labels...
The Screener scans for 2-SD Breakouts and OB/OS levels for the coded tickers and gives Summary alerts
Uses Tables (dynamica resizing) for the scanner output instead of standard labels!
This Screener cum indicator collection has two distinct objectives..
1. Attempt re-entry into trending trades.
2. Attempt Counter trend trades using , and .
Briefly about the Screener functions..
a. It uses TABLES as Labels a FIRST for any Screener on TV.
b. Tables dynamically resize based on criteria..
c. Alerts for breakouts of the UPPER and the LOWER regression channels.(2 SD )
d. In addition to LinReg it also Screens for OB/OS levels so a multifunction Screener.
e. Of course has the standard summary Alerts and programmable format for Custom functions.
f. Uses only the inbuilt Auto Fib and Lin Reg code for the screener.(No proprietary stuff)
g. The auto code is derived(Auto fib).
Question what are all these doing in a single screener ??
is very useful in determining Trend Up or Down from one to another.
So Once you have a firm view of the Current Trend for your chosen timeframe and ticker…
We can consider few possible trading scenarios..
a. Re-entry in an Up Trend - Combination of OS And a Lower Channel breach followed by a re-entry back into the regression channel CAN be used as an effective re-entry.
b. Similarily one can join a Down Trend on OB and Upper Channel line breach followed by re-entry into the regression channel.
If signals a range-bound market, bound within channel lines then the Upper breakout can be used to Sell and vice-versa!
In short many possibilities for using these functions together with Scanner and Alerts.
This facilitates timely PROFITABLE Trending and Counter trend opportunities across multiple tickers.
You must give a thorough READ to the various available tutorials on / Regression and Fib retracements before attempting counter trend trades using these tools!!
A small TIP – Markets are sideways or consolidating 70% of the time!!
Acknowledgements: - Thanks a lot DGTRD for the Auto code and also for the eagerness to help wherever possible..Respect!!
Disclaimer: The Alerts and Screener are just few tools among many and not any kind of Buy/Sell recommendations. Unless you have sufficient trading experience please consult a Financial advisor before investing real money.
*The alerts are set for crossovers however for viewing tickers trading above or below the channel use code in line 343 and 344 after setting up the Alerts!
** alerts are disabled by default to avoid clutter, but if needed one can activate code lines 441,442,444 and 445
Wish you all, Happy Profitable Trading!
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.