This post focuses on customizable Polarized Fractal Efficiency factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.

**Display Polarized Fractal Efficiency (PFE) Values**

Tags: polarized fractal efficiency indicator, polarized fractal efficiency scanner, polarized fractal efficiency screener, polarized fractal efficiency stock screener

```
List symbols
Add Column Polarized Fractal Efficiency(14,3) as PFE
Apply to NSE
```

This scan employs a 14-period Polarized Fractal Efficiency (PFE) calculation with a 3-period smoothing technique. It provides a display of the PFE values for all symbols. By default, the PFE calculation is performed using the “Close” price.

**OPTION 1**

A scan to retrieve the PFE values for the most recent 3 bars:

```
List symbols
Add Column PFE(14,3) as PFE
Add Column PFE(14,3) a bar ago as PFE_1
Add Column PFE(14,3) 2 bars ago as PFE_2
Apply to NSE
```

**OPTION 2**

As a standard setting, the computation of PFE (Probability of Future Extreme) is based on the “Close” data array. However, if you wish to calculate PFE using a different data array such as the 10-period Exponential Moving Average (EMA) of Close, you can modify the scan as shown below. This modified scan allows for the computation of PFE on both the Close data and the 10-period EMA of Close.

```
List symbols
Add Column PFE(14,3) as PFE
Add Column PFE(14,3,EMA(10)) as PFE_of_EMA
Apply to NSE
```

**Polarized Fractal Efficiency (PFE) in Overbought Zone**

Tags: polarized fractal efficiency overbought scanner

```
List symbols where PFE(14,3) has been above 70 for the last 3 bars
Add Column PFE(14,3) as PFE
Add Column PFE(14,3) 1 bar ago as PFE20_1
Add Column PFE(14,3) 2 bars ago as PFE20_2
Apply to NSE
```

This scan is designed to identify NSE symbols that meet specific criteria. It searches for symbols where the 14-period PFE (with 3-period smoothing) has consistently remained above 70 for the past 3 bars. The scan report also includes the value of the 14-period PFE (with 3-period smoothing) for the last 3 bars.

**OPTION 1**

If you wish to modify the scan to focus on symbols where the PFE is only in the Overbought Zone, you can make the following changes to the original script:

```
List symbols where PFE(14,3) > 70
Add Column PFE(14,3) as PFE
Add Column PFE(14,3) 1 bar ago as PFE20_1
Add Column PFE(14,3) 2 bars ago as PFE20_2
Apply to NSE
```

**Polarized Fractal Efficiency (PFE) in Oversold Zone**

Tags: polarized fractal efficiency oversold scanner

```
List symbols where PFE(14,3) has been below -70 for the last 3 bars
Add Column PFE(14,3) as PFE
Add Column PFE(14,3) 1 bar ago as PFE20_1
Add Column PFE(14,3) 2 bars ago as PFE20_2
Apply to NSE
```

This scan is designed to identify NSE symbols that meet the following criteria: the 14-period PFE (with 3-period smoothing) has consistently remained below -70 for the past 3 periods. The output scan report also includes the values of the 14-period PFE (with 3-period smoothing) for the last 3 periods.

**OPTION 1**

If you wish to modify the scan to search for symbols that are simply in the Oversold Zone based on the PFE, you can make the following changes to the original scan:

```
List symbols where PFE(14,3) < -70
Add Column PFE(14,3) as PFE
Add Column PFE(14,3) 1 bar ago as PFE20_1
Add Column PFE(14,3) 2 bars ago as PFE20_2
Apply to NSE
```

**Overbought with a Declining Polarized Fractal Efficiency (PFE)**

Tags: polarized fractal efficiency overbought declining scanner, polarized fractal efficiency overbought decreasing scanner, polarized fractal efficiency overbought scanner

```
List symbols where PFE(14,3) has crossed below 70 after remaining above for 3 bars
Add Column PFE(14,3) as PFE14
Apply to NSE
```

This scan identifies instances where the 14-period (with 3-period smoothing) PFE indicator has recently dropped below the 70 level, following a period of having stayed above 70 for 3 consecutive bars. The output scan report also includes the displayed value of the 14-period (with 3-period smoothing) PFE indicator.

**Oversold with an Improving Polarized Fractal Efficiency (PFE)**

Tags: polarized fractal efficiency oversold improving scanner, polarized fractal efficiency oversold increasing scanner, polarized fractal efficiency oversold scanner

```
List symbols where PFE(14,3) has crossed above -70 after remaining below for 3 bars
Add Column PFE(14,3) as PFE14
Apply to NSE
```

This scan is designed to identify instances where the 14-period PFE (with 3-period smoothing) crossed above the -70 level after having been below it for 3 consecutive bars. The scan report will also include the display of the 14-period PFE (with 3-period smoothing).

**Polarized Fractal Efficiency Moving Average Bullish Crossover**

Tags: polarized fractal efficiency crossover scanner, polarized fractal efficiency bullish crossover scanner

```
List symbols where PFE(14,3) has crossed above EMA(3,PFE(14,3)) after remaining below for 3 bars
Add Column PFE(14,3) as PFE14
Add Column EMA(3,PFE(14,3)) as EMA3_PFE14
Apply to NSE
```

This scan is designed to identify specific symbols based on the occurrence of a crossover between the 14-period (with 3-period smoothing) PFE and the 3-period Exponential Moving Average (EMA) of the indicator. The scan specifically identifies symbols where the PFE has recently crossed above the EMA after having been below it for 3 consecutive bars. The resulting scan report includes the values of the 14-period PFE and the Moving Average for each identified symbol.

**OPTION 1**

If you wish to modify the type of Moving Average used, you can easily do so by replacing ‘EMA’ with ‘SMA’ for Simple Moving Average. In the following example, we have replaced EMA with SMA as it uses the Simple Moving Average. It is important to note that this scan focuses solely on identifying the occurrence of a crossover, without considering the state of the indicator prior to the crossover.

```
List symbols where PFE(14,3) has crossed above SMA(3,PFE(14,3))
Add Column PFE(14,3) as PFE14
Add Column SMA(3,PFE(14,3)) as SMA_PFE14
Apply to NSE
```

**Polarized Fractal Efficiency Moving Average Bearish Crossover**

Tags: polarized fractal efficiency crossover scanner, polarized fractal efficiency bearish crossover scanner

```
List symbols where PFE(14,3) has crossed below EMA(3,PFE(14,3)) after remaining above for 3 bars
Add Column PFE(14,3) as PFE14
Add Column EMA(3,PFE(14,3)) as EMA3_PFE14
Apply to NSE
```

This scan is designed to identify specific patterns in the market based on the movement of certain indicators. It focuses on detecting symbols where the 14-period PFE (with 3-period smoothing) has recently crossed below the 3-period Exponential Moving Average (EMA) of the indicator, following a period of having been above it for 3 bars. The scan report also includes the values of the 14-period PFE and the Moving Average.

**OPTION 1**

To use a different type of Moving Average, simply modify the scan by replacing ‘EMA’ with ‘SMA’ for Simple Moving Average. In the example provided below, we have used the Simple Moving Average (SMA) instead of EMA. Furthermore, this scan simply focuses on identifying any crossover, regardless of its state prior to the crossover.

```
List symbols where PFE(14,3) has crossed below SMA(3,PFE(14,3))
Add Column PFE(14,3) as PFE14
Add Column SMA(3,PFE(14,3)) as SMA_PFE14
Apply to NSE
```

For comprehensive insights into the Polarized Fractal Efficiency, including its calculation methodology, how to use the Polarized Fractal Efficiency indicator in trading, as well as an exploration of its advantages and limitations as an indicator, click here.