Use or copy/modify Factory Scans that ship with the Advanced Scanner to scan charting data; or, create/write new Algorithms or Quants based on a text-based powerful scripting language
ChartAlert Scripting Language-based Advanced Scanner
PATTERN DETECTION SCANNING
CASL, short for ChartAlert Scripting Language, is a robust, text-based scripting language in English. It offers simple yet effective methods for creating scanning algorithms. These algorithms enable the scanning of stocks, futures, or commodities, allowing users to identify both bullish and bearish signals.
The scan results are presented in a customizable and interactive grid-format report.
You can create scans based on the following . . .
- Candlestick Patterns
- Chart Patterns
- Harmonic Patterns
- Point & Figure Patterns
- Renko Patterns
- Moving Averages
- Technical Indicators
- Trading Systems (Proprietary)
Text Editor or Prompter
The ChartAlert Scripting Language (CASL) interface includes an in-built Text Editor or Prompter, that makes it easy to do the following . . .
- Modify existing Scans by Re-writing or Re-building
- Copy/ Edit/ Modify/ Save existing Factory Scans
- Create or Write absolutely New Scans – this is not possible in the Menu-based Basic Scanner
- Use numerous AND-ing/ OR-ing Conditions
- Write and/or Copy/ Edit/ Modify/ Save numerous Filters
- Combine multiple Scans
– Advanced Scanner slideshow-
P&F Relative Strength Matrix
SCANNING NOISELESS CHARTS
In an “arm-wrestling match” of symbols, one symbol competes against multiple others, revealing the location of superior performance. The RS Matrix quantifies the performance of that one symbol compared to the rest.
You can do the following with the RS Matrix . . .
- Create and scan chart pairs
- Plot chart pairs (ratio charts) or scan them using P&F parameters
- Build a Relative Strength Matrix of “n” number of symbols
With the RS Matrix, you can scan for the following . . .
- A symbol’s RS BUY signal vs the market – say, NIFTY
- A symbol’s RS column (X) vs the market – say, ICICIBANK/NIFTY
- A symbol’s RS BUY signal vs the peer group – say, BANKNIFTY
- A symbol’s RS column (X) vs the peer group – say, ICICIBANK/BANKNIFTY
- Overall trend of a symbol – is it trading above the 45 degree P&F Bullish Support Line?)
P&F Trend Matrix
SCANNING NOISELESS CHARTS
The Trend Matrix is a modified version of the Relative Strength Matrix concept.
- Evaluate a symbol with multiple P&F parameters, and assign a weightage to each iteration of the P&F parameter used
- Rank the resultant output with a score . . .
- Strong symbols (that are trending higher) have high scores
- Weak symbols (typically the ones to avoid) have weak or negative scores
Go to the Trend Matrix slideshow and demo videos
Other Features of Advanced Scanner
The Trading Systems Builder and Backtester utilize ChartAlert’s advanced scanning engine. However, detailed information about these tools can be found in the next few pages on this website.
– Relative Strength Matrix slideshow –
Learn more about the Trading Systems Builder in ChartAlert