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Frequently Asked Questions
Q: What is the significance of the patterns and trendlines?
A: There is a wealth of information you can learn about trendlines and chart patterns, such as this. They are among the oldest concepts in technical analysis, but they are also the most subjective and difficult to identify. There is no formula you can just plug in and get the results. Most require human eyes and experience. However, with the semi-heuristic algorithm I have developed, it is possible to identify these patterns and lines with computer. There are some false positives so you still need manual confirmation, but this saves a lot of time and effort by not having to scan through all charts manually.
Q: What exactly are trendlines?
A trend line is a bounding line for the price movement of a security. A support trend line (or a bottom line) is formed when a securities price decreases and then rebounds at a pivot point that aligns with at least two previous support pivot points. Similarly a resistance trend line (or a top line) is formed when a securities price increases and then rebounds at a pivot point that aligns with at least two previous resistance pivot points. In other words, bottom lines are formed by joining a series of bottom points, and top lines are formed by joining a series of peaks.
Trendlines are considered by many expert traders and investors as the single most important tools in technical analysis. However, unlike other indicators of Technical Analysis, it does not come with a fixed formula, but require human eyes and brain to draw the best fit line across a series of bottoms or tops. It is still very much of an art form. If you are looking for a particular trendline pattern - such as Resistance breakout, the tasks of drawing trendlines for all stocks on the market becomes tedious if not impossible. Screenulator solves the problem for you.
Q: What are the trendline colors?
I use colors on trendlines to denote certain meanings:
Pink: Closest bounding support and resistance lines
Yellow: Recently penetrated lines
Green: The line that has been penetrated for a long time, about to be removed from the chart
Grey: All the other lines
Q: How frequently do you update the screening results?
A: Screener results are computed twice daily: once in the morning 11 - 12 am, and once at market close (after 5 pm). The mornig update time varies depending on market volatility. I want to make sure market is reasonably stable before running pattern screeners to get more accurate results. Same day results are only available for paying memebers.
Q: Which symbols and how many symbols do you screen?
A: As of December 2015, about 18000 symbols for US, Canada, Australia, NZ, HK, China, India (NSE), Jakarta, Singapore (SGX), Europe, London stocks are supported. As well as selected ETFs. As of July 2014, about top 50 FOREX pairs are also supported. If you do not see the symbol you would like, just send me a Request!
Q: Are options supported?
A: Options are supported for US market tradable through Tradier brokerage. For international markets, please Yahoo Finance. You can look up add option chains from portfolio by right click, or long press (Android) on the underlying stock symbol, and select Option Chains command. Option symbols look like "UGA16015C00028000" means UGA (the underying stock), 2016, January 15 Call, Strike at $28.
Charts of options are generally choppy and discontinuous due to the low liquidity nature of them. It is much better to analyze the charts of the underlying stock even if you plan to only trade options.
Q: Which FOREX pairs are currently supported?
As of July 2014, the following FOREX symbols are supported. If you do not see the symbol you would like, just send me an email at Screenulator@gmail.com!
Q: What market data are you using?
A: Combination of market data from Google and Yahoo finance, and Sina. For US, UK, India, Canada, Australia, Google Finance provides realtime quotes. Yahoo finance provides wider world market coverage such as Jakarta, Singapore, EU countries and Hong Kong. Historical EOD prices mostly come from Yahoo Finance as it goes back the furthest. Forex data comes from Google Finance which is up to 1 min. intraday. Chinese markets Shenzhen, Shanghai exchanges market data comes from Sina finance. For more detailed inquiry, or want to add your market data source please contact me.
Q: What are the lines on the charts?
A: A trend line is a bounding line for the price movement of a security. A support trend line (or a bottom line) is formed when a securities price decreases and then rebounds at a pivot point that aligns with at least two previous support pivot points. Similarly a resistance trend line (or a top line) is formed when a securities price increases and then rebounds at a pivot point that aligns with at least two previous resistance pivot points. In other words, bottom lines are formed by joining a series of bottom points, and top lines are formed by joining a series of peaks.
I have developed a computer algorithm to detect all possible trendlines to aid your analysis. Not all the trendlines are correct, or useful. every trader has his own opinion on which trendlines are should be, and some trendlines are more important than others. Screenulator show you all possible trendlines including ones you could possibly have missed.
Q: Do you have a desktop or mobile charting applications?
A: Yes! Interactive Stock Charts is an industry leading general purpose technical analysis charting app as well as contains exclusive and proprietary screenulator only features (Trendlines, Chart Patterns, and Trend Reversal and Exhaustion indicators). It supports Android, Windows, MacOSX, or any Java supported platforms.
With Android version, its innovative multi-touch interface allows defining trendlines and Fibonacci levels with two fingers instead of one mouse pointer, thus allowing you to adjust two data points simultaneously.
Q: Can you combine two or more screener criteria to create my own custom screener?
A: Most definitely! Use desktop version of ISC app, Custom screener Tab. It allows you to compose your own screener by combining two or more default screeners. In fact this is the most powerful way to discover your a trading strategy that suits you and your market the best. See the next question for how to use the custom screener.
See Demo video
Q: How to use custom screeners?
A: Custom screener allows you to compose your own screener by combining two or more default screeners. A lot of default screeners such as RSI and Trend Reversal results in too many qualifiers. Combining screeners is a good way to refine your search results and with experience greatly increase the profitability of trades.
To add a condition or screener, select a condition from the "Criteria" dropdown. Usually the first one you want to add is your local stock market, such as US stocks only, or NSE stocks only.
The Basic statistics include things such as price and volume, in which you can specify comparison operator (>, ==, <) and value parameters. For example, if you want to filter only stocks between price $5 and $20, you can add two conditions: 1) Closing price, Greater or Equal, $5, and 2) Closing price, Less than or equal, $20.
Then you can add one or more advanced chart pattern / trendlines / TA screeners from the dropdown. My favorite is to combine TR Buy complete, with trendline near support, and maybe one more oscillator such as RSI near 30, or cross over 30.
See Demo video
Q: How do I know buy or sell recommendations on a stock?
A: Again this is not a stock pick site. I do have offer investment advise. You should do your own research with the help of powerful tools screenulator provides (Trendlines, and Trend Reversal & Exhaustion indicator signals), combined with fundamental analysis if you are inclined to. Then form your own style and timeframe of trading.
More questions? Send an email to email@example.com