The Market Scanner makes it easy to scan for opportunities across multiple timeframes. By adding another dimension to your analysis, you can find opportunities that are attractive across the short-, intermediate-, and long-term rather than only within a single timeframe.
There are two ways to setup multiple timeframes:
- New Parameters: The first step when adding a new parameter tp a scan is setting the desired timeframe.
- Existing Parameters: You can change any parameter’s timeframe by clicking on the left-side of the parameter block (e.g. where it says “3 min”).
You can choose up to three timeframes to scan at once. If you want to change the timeframe for all of the parameters at once for a given scan, you can do so by clicking the script actions… button, selecting Set all time frames to, and then choosing the desired timeframe.
The Market Scanner also makes it possible to identify real-time opportunities within each timeframe, which is helpful when incorporating longer timeframes into your scans, such as daily or weekly patterns or indicators.
The Current Candle setting scans in force, which means that the current candlestick is considered in its current form — even if it hasn’t finished. For instance, you can scan for hammer candlestick patterns that are currently forming on the daily chart while you’re still in the middle of the day’s session.
You can scan for Current Candles in a few steps:
- Create a new scan or load an existing scan.
- Check the current candle checkbox.
- Click Scan to see the real-time results.
- Optionally, save the scan with the change and access it in a Smart Watchlist.