Customizing Predefined Scans
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On the StockCharts Predefined Scans page, you'll find results of over 60 scans that are run each day after the market closes. StockCharts members can load any predefined scans into the Advanced Scan Workbench for examination and modification.
We'll walk you through viewing the nuts and bolts of the Strong Volume Gainers predefined scan and customizing it to better meet your needs.
Click the Charts & Tools tab at the top of any StockCharts.com webpage, then click Predefined Scans in the Reports & More menu on the right side of the page.
In this example, we're looking for the Strong Volume Gainers report for stocks that trade on the NASDAQ Exchange.
Find Strong Volume Gainers on the Predefined Scan list and click on the number in the NASDAQ column for that scan.
When you click the number in Step 2, you'll see a list of the ticker symbols that meet that scan criteria. But how do you know the scan criteria?
Click the Edit Scan Criteria button.
You'll see the predefined scan criteria in the Advanced Scan Workbench.
In the Strong Volume Gainers predefined scan, StockCharts defines strong volume as at least four times higher than the 20-day simple moving average of volume (see below).
If you prefer to define strong volume as five times higher, change that “* 4” to “* 5” in your scan criteria. You can also break the scan into multiple lines so it's easier to read.
There is another way to load predefined scans in the Advanced Scan Workbench, which adds them directly from the workbench.
Say you want to combine two predefined scans: Strong Volume Gainers and New 52-Week Highs. You've already got the first one, but how can you add the scan criteria for the New 52-Week Highs predefined scan?
In the Scan Components area below the scan editor, find Predefined Scans. Choose New 52-Week High from the dropdown menu.
After you've selected the New 52-Week High predefined scan, click Add.
No universe-defining clauses are added in this example since you're not loading the predefined scan from a predefined scan report. When adding from the Advanced Scan Workbench, only the clauses that directly relate to the 52-week highs are added.
Once you're happy with your customizations, remember to save your scan.
Click the Save As button above the scan editor, enter a name for your scan, and click the Save Scan button. In this example, we've saved the scan as Strong Volume 52-Week Highs.
Saving this scan didn't make changes to the original Predefined Scan. When you save the scan with your customizations, it becomes a new custom scan in your account.
Predefined Scans are a great way to learn about scanning's many benefits. The collection contains plenty of excellent examples of crossovers, patterns, and trend-detection scans, ready to be reviewed and customized.
