Tradingview Indicator Scans: How to Setup & Best Practices

Setting up Tradingview Indicator Scans can empower you to filter and find stocks, cryptocurrencies, forex pairs, or other assets based on custom criteria that fit your trading strategy. TradingView’s platform includes a powerful screener that allows traders to screen assets based on technical indicators, fundamentals, and customized conditions. This guide will walk you through the process, explaining how to set up indicator scans effectively on TradingView.

Introduction to TradingView Indicator Scans

TradingView’s screener allows you to filter assets based on a variety of indicators and custom criteria. While basic scans can be created directly in the Screener section, TradingView also allows you to leverage Pine Script, its built-in scripting language, to build and scan for custom indicators. This flexibility is invaluable, as it enables you to narrow down asset lists to only those that meet your specific trading requirements.

Setting Up a Basic Tradingview Indicator Scans

To start using indicator scans, you can use the built-in TradingView screener. Here’s how to set up a basic scan:

Open the Screener

– At the bottom of the TradingView interface, you’ll find the screener options (Stocks, Forex, Crypto). Click on the asset class you want to scan.

Choose Your Market

– Select the desired market (e.g., NYSE, NASDAQ for stocks, or the cryptocurrency list).

Set Up Filters

– In the screener, you’ll see a “Filters” button. Clicking it will open a list of filters you can apply to narrow down your search.
– Select filters based on the indicator you’re interested in. For example, you can add moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), or Bollinger Bands.

Adjust Filter Values

– Each indicator filter will have specific conditions you can adjust. For example, for RSI, you can set conditions like “Overbought” or “Oversold.”
– Set values based on your trading strategy. If you’re looking for oversold conditions, set RSI < 30.

Save Your Filter Preset

– You can save your configuration as a preset by clicking on the “Save Screen” button. This allows you to quickly load the same criteria in the future.

Using Built-In Scanners

TradingView provides some pre-built scanners that can be a good starting point for many traders. These can be modified to fit your specific criteria.

Access Pre-Built Scans

– Open the screener and navigate to the “Signal” tab. Here, you’ll see some of the more common scans such as “Top Gainers,” “Top Losers,” “Most Active,” and “New Highs.”

Modify Pre-Built Tradingview Indicator Scans

While using these predefined scanners, you can add or remove additional filters. For instance, if you’re looking at “Top Gainers” but only want to see assets with an RSI below 70, you can add that filter condition.

Customizing Technicals

– Under the “Technicals” tab, TradingView allows you to select indicators and apply conditions. You can use popular indicators like EMA, RSI, MACD, and apply specific criteria such as “Buy” or “Sell” conditions based on the indicator’s current state.

Customizing Indicator Scans with Pine Script

For more advanced scans, you’ll need to use Pine Script. Here’s how you can set up custom indicator scans with this scripting language.

1. **Open the Pine Script Editor**:
– At the bottom of the TradingView interface, click “Pine Editor.” This is where you’ll write the code for your custom indicators or conditions.

2. **Writing a Basic Script**:
– Let’s say you want to scan for stocks where the RSI is below 30 and the price is above the 50-day moving average. Here’s a sample script:

“`pine
//@version=5
indicator(“RSI and MA Scanner”, overlay=true)
rsiValue = ta.rsi(close, 14)
ma50 = ta.sma(close, 50)

// Define conditions
rsiCondition = rsiValue < 30
maCondition = close > ma50

// Color conditions met
bgcolor(rsiCondition and maCondition ? color.green : na)
“`

– This script checks if both conditions are met (RSI < 30 and close > MA50) and highlights the background in green when they are.

3. **Adding Alerts to the Script**:
– Pine Script allows you to create alerts. To set up an alert for this condition, add the following code:

“`pine
if (rsiCondition and maCondition)
alert(“RSI is below 30, and price is above the 50-day MA”, alert.freq_once_per_bar_close)
“`

4. **Save and Apply the Script**:
– Save your script, give it a name, and then click “Add to Chart.” The script will now run on your chart, scanning for the conditions you specified.

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Combining Multiple Indicators for Complex Tradingview Indicator Scans

Complex scans often involve multiple indicators. In Pine Script, you can combine as many indicators as needed to create highly specific scans. Here’s an example:

1. **Combine RSI, MACD, and Moving Averages**:
– For example, if you want to filter for assets where the RSI is below 30, the MACD line is above the signal line, and the price is above the 200-day MA:

“`pine
//@version=5
indicator(“Multi Indicator Scanner”, overlay=true)
rsiValue = ta.rsi(close, 14)
[macdLine, signalLine, _] = ta.macd(close, 12, 26, 9)
ma200 = ta.sma(close, 200)

rsiCondition = rsiValue < 30
macdCondition = macdLine > signalLine
maCondition = close > ma200

bgcolor(rsiCondition and macdCondition and maCondition ? color.green : na)
“`

2. **Testing Your Script**:
– After adding it to your chart, scroll through different assets to see if your conditions are highlighted.

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Saving and Accessing Your Tradingview Indicator Scans

After you’ve created a scan, saving it allows for quick access in the future.

1. **Save Screen Presets**:
– In the TradingView screener, click the “Save Screen” option to save your filter settings.

2. **Naming Custom Scripts**:
– Name your Pine Script scans logically, so you can easily identify them in your “Indicators” tab.

3. **Loading Saved Tradingview Indicator Scans**:
– When you return to TradingView, your saved presets can be accessed from the “Screener” dropdown menu.

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Setting Up Alerts for Tradingview Indicator Scans

TradingView’s alerts feature is incredibly useful for notifying you when your scan conditions are met. Here’s how to set up alerts based on your scans:

1. **Create Alert from Indicator**:
– Right-click on your chart and select “Add Alert.” If your custom script is running on the chart, you’ll see it as an option in the “Condition” dropdown.

2. **Customize Alert Conditions**:
– Choose conditions like “Crossing,” “Greater Than,” or “Less Than” based on your script.
– Set the “Expiration Time” and configure how you’d like to receive alerts (popup, email, SMS, etc.).

3. **Manage Alerts**:
– Go to the “Alerts” tab on the right sidebar to manage your active alerts. You can adjust or delete alerts as needed.

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Best Practices and Tips for Tradingview Indicator Scans

1. **Backtest Your Strategy**:
– Before relying on any scan, it’s a good idea to backtest it. TradingView’s Pine Script supports backtesting, which helps you see how your conditions would have performed historically.

2. **Optimize Indicator Parameters**:
– Try different values for your indicator conditions to see what works best for your trading style.

3. **Stay Organized with Names**:
– Give meaningful names to your saved scans and scripts so that they are easy to find later.

4. **Regularly Review and Adjust**:
– Markets change, so regularly review your scans to ensure they remain effective in current conditions.

5. **Use Alerts to Automate Your Workflow**:
– Setting alerts for your scans can free you from having to manually check the screener, making your workflow more efficient.