Customizing a Sample Scan

In the StockCharts Sample Scan Library, you'll find over 100 scans that cover a wide range of popular bullish and bearish signals. In addition to running scans directly from the library, StockCharts members can load any of these sample scans into the Advanced Scan Workbench for examination and modification.

In this step-by-step tutorial, we'll walk you through viewing the nuts and bolts of the 4x Average Volume Gainers sample scan and customizing it to better meet your needs. Then we'll show you how to combine two sample scans into one custom scan in the Advanced Scan Workbench.

Accessing Sample Scans

Step 1: Load the Sample Scan Library

Click the Scans & Alerts tab at the top of any StockCharts.com webpage, then choose Sample Scan Library from the dropdown menu.

Step 2: Find Your Scan

In this example, we're looking for the 4x Average Volume Gainers scan for stocks in the Nasdaq 100 index.

Find 4x Average Volume Gainers on the Technical Indicators tab of the Sample Scan Library.

Since we want to limit the scan results to stocks in the Nasdaq 100 index, we will also select that index for the Index Membership filter on the left side of the Sample Scan Library.

Find your scan in the Sample Scan Library. Also, set the Index Membership filter for your scan.

Learn More: Using the Sample Scan Library

Step 3: Edit the Scan

You can click the Run button next to the 4x Average Volume Gainers scan to run it as-is, but we want to modify the scan instead. Click the Edit button next to this scan.

This will load the scan criteria for that sample scan in the Advanced Scan Workbench, including any clauses for filters you set in the Sample Scan Library, like the one limiting results to Nasdaq 100 stocks.

Viewing the scan clauses for a sample scan.

Customizing the Scan

In the 4x Average Volume Gainers sample scan, StockCharts defines strong volume as at least four times higher than the 50-day simple moving average of volume using the RVOL indicator (see below).

and [Daily RVOL SMA(50) > 4]

Step 4: Modify the Scan

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.

Modifying a sample scan from the Advanced Scan Workbench.

Cool Tip: Use the Reformat button below the Scan Criteria box to automatically put each scan clause on its own line.

Adding Sample Scan Clauses from the Workbench

There is another way to load sample scans in the Advanced Scan Workbench, which adds them directly from the workbench.

Say you want to combine two sample scans: 4x Average Volume Gainers and 52-Week Highs. You've already got the first one, but how can you add the scan criteria for the 52-Week Highs sample scan?

Step 5: Add a Second Sample Scan

In the Scan Components area next to the Scan Criteria box, find the New Highs dropdown menu on the Technical Indicators tab. Choose 52-Week High from the dropdown menu.

Adding another sample scan from the Advanced Scan Workbench.

After you've selected the 52-Week High sample scan, click the Plus button to add the 52-week high clauses to your scan.

The new clause is added at the end of the scan.

Cool Tip: Click the Check Syntax button after making changes, to make sure everything is correct and the scan is ready to run.

No universe-defining clauses are added with the second sample scan, since you're not loading the new sample scan from the Sample Scan Library. When adding from the Advanced Scan Workbench, only the clauses that directly relate to the 52-week highs are added.

Saving and Using the Scan

Once you're happy with your customizations, remember to save your scan.

Step 6: Save the Scan

Click the Save As button above the Scan Criteria box, enter a name for your scan, and click the Save Scan button. In this example, you could save the scan as 52-Week Highs in Nasdaq 100 with 5x Average Volume. Choose a name that makes sense to you.

Use the Save As button to save the customized scan in your account.

Note that saving this scan doesn't make changes to the original Sample Scan. When you save the scan with your customizations, it becomes a new custom scan in your account.

Step 7: Run the Scan

To run the scan and see the results, click the green Run Scan button below the Scan Criteria box.

You will see all the stocks in the Nasdaq 100 that currently have 5 times the average volume and are experiencing a new 52-week high.

Learn More: Working with Scan Results

Explore All the Scans

The Sample Scan Library is 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.