Scanning Wizard – Choosing a Periodicity and First Date

Selecting the scan periodicity and first date enables you to choose the frequency and amount of data used in the scan.

The periodicities available are as follows:

Monthly Each bar represents one month of trading activity

Weekly Each bar represents one week of trading activity

Daily Each bar represents one day of trading activity

 

(Day Trader Only)

Hour Each bar represents trading activity for the user-specified number of hours.

Minute  Each bar represents trading activity for the user-specified number of minutes.

Second  Each bar represents trading activity for the user-specified number of seconds.

Volume Each bar represents trading activity for the user-specified minimum volume. The volume of each bar will equal the specified volume. Each bar is created by accumulating trades until the specified volume is reached. Since trades are not split across bars, a bar’s volume may exceed the specified volume if the volume of the last trade is greater than needed to exactly reach the specified volume.

Range Each bar represents trading activity for the user-specified minimum price range. The high-low range of each bar will equal the specified range. Each bar is created by accumulating trades until the high-low range is reached. The first trade to break outside that range starts a new bar. Since price gaps are not filled with phantom bars, the high-low range of a bar can exceed the specified range when prices gap outside the range before a bar’s price range criteria was met.

To choose a chart periodicity and first date:

  1. Select a periodicity for the scan by clicking on the desired periodicity of either daily, weekly, monthly, (DayTrader Only) or intraday. If you chose intraday, you should also enter the desired intraday bar size (i.e. 1, 2, 3, ‘) in the text box and select the desired bar type (i.e. Hour Bars, Minute Bars, Second Bars or Volume Bars). Note that Second and Volume bars may not be supported depending upon the data feed being used and therefore Second and Volume may not displayed.
  2. Choose how far back to initially load data by entering a date, using the up/down buttons to change the day/month/year, or selecting the dropdown arrow to select a date from the calendar.
  3. Press the Next button to proceed to the next wizard screen.

Notes:

  • (DayTrader Only) Note that Second, Volume and Range bars are created from tick by tick data streams and therefore historical data may be limited and take longer to load.
  • (DayTrader Only) Second, Volume and Range bars can only be created using eSignal and will therefore not be visible when using other data feeds.
  • NeuroShell Trader will handle all data conversion if you choose a chart periodicity different from the data files upon which the scan is based.

Example #1: If you create a monthly scan based upon daily data files, NeuroShell Trader will set the monthly open equal to the first daily open, the monthly high equal to the highest daily high, the monthly low equal to the lowest daily low, and the monthly close equal to the last daily close. Additionally, the monthly volume & open interest equal to the sum of all daily volumes & open interests, and all other monthly data values equal to the last daily data value.

Example #2: If you create a daily scan based upon monthly data files, data points will only occur once a month. However, if you insert other instrument data that comes from a daily data file, the new instrument will have data every day and the original data will be extended so that each day has the last monthly value.

 

Was this article helpful?

Related Articles