In this article, let us discuss the process of setting a Automatic Scanner to screen for the following conditions using Foxtrader.

Super Trend 3 band with RSI Screening ( a popular trading strategy among Retail Traders at the moment )

Indicators Used:

Super-Trend First Band : 11,2 period,multiplier.

Super-Trend Second Band : 10,3 period,multiplier.

Super-Trend Third Band : 7,3 period,multiplier.

Filter with

RSI : 14 period , 60 for long and 40 for short.

Stock Range : Nifty 50.

Screening Time frame : 5 minute candles.

Screenshot of FoxTrader Scanner and Chart Setup for the above Strategy :

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FoxTrader Scanner Setup procedure for above Screening :

1. SCANNER > Group Scan Menu.
2. On new Scan Window > SETTINGS TAB.
3. Set Group > Select NIFTY 50
4. Set Period I for intraday
5. Set candle time frame to 300 seconds for 5 minutes.
6. Click Studies.
7. On Study Manager Window > Add
8. Search for supertrend
9. Select Conditions TAB and double click “Condition Supertrend”.
10. Set band conditions ATR Length 11 and ATR Multiple 2 for First BAND
11. DO NOT forget to set HL bars to 1
12. click button D to set display name as default and click APPLY.
13. Repeat steps 10, 11, 12 for the second and third bands.
14. On Study Manager click Add
15. Search for rsi
16. On the CONDITIONS TAB click the second “Condition RSI Overbought Sold”
17. Set BUY level to 60 and Sell Level to 40
18. Click button ‘D’
19. Click Apply and close Study Manager
20. On SETTINGS TAB tick Filter
21. On the drop down list Select ALL and click OK
22. Click SAVE and SCAN
23. The RUN TAB now automatically opens up and Starts Scanning.
24. Set Scan Mode to “OnBar Completion” and you are done.
25. The Foxtrader Scanner will now automatically scan every 5 mins screening for stocks matching the above conditions.

Identify the above steps using the Red Markers on the Screenshots below.