Doubts on Scan stocks vs trading system and Alerts

[Gd iPas]

There are two features named Scan tocks and Manage trading systems

As far as I understand the system is scanning stocks based on the trading systems defined.

But I have a query like scanning stocks also is factoring in BUY and SELL signals , which I m getting confused . Buy and sell are to be backtested in trading system .

But Buy and Sell are factored in scanning as well which I m not able to articulate .

[ Since I m coming from Tradingview/chartink thought process.]

Is there any thorough documentation for the same about how should we approach this.



Also I m not able to see in what media the alerts are getting generated email /sms/desktop notifications /etc.

GD

[Sacha]

Using "Scan Stocks" you can scan stocks for buy or sell signals.

"Manage Trading Systems" is about managing trading systems, i.e. create or edit or modify a trading system. Using a trading system you can scan stocks for buy or sell signals. You can also backtest trading systems for one or more stocks to see how good it has worked in the past.

Please let me know if I haven't answered your query sufficiently. We are improving the documentations and queries like this help us to know what improvements we need to make.

[Gd iPas]

I got the trading system part .It just defines a system with Buy sell condition, which can be backtested by the backtesting Module

But about Scan Stocks module part , Does it scan stock with both "Buy and Sell signal" both together with the condition mentioned in trading system .

Many a time in Value investing we just need to scan for value stocks without immediate exit condition .

In the SCAN module , if i just select the BUY checkbox (uncheck other checkboxes) and go on to custom define Trading system say RSI>70 with some candlestick pattern for churning value stocks in support zone to create separate watchlist with alerts . Its  still forcing me to define an exit by popping " Condition for long exit is not defined".when I just selected BUY checkbox ( and did not check the sell option ) in the SCAN module to start with.

How do I just create a SCAN criteria to come up with list of stock to study their charts and observe their behavior . Many a times we just need to scan stocks to make a separate Watchlist based on certain criteria.

How do we do this ?

[Sacha]

But about Scan Stocks module part , Does it scan stock with both "Buy and Sell signal" both together with the condition mentioned in trading system .

The Scan Stocks module only looks for the type of signals you select in the Stock Screener (Buy, Sell, Short, or Cover).

In the scan module , if i just select the Buy checkbox and go on to custom define Trading system say RSI>70... Its forcing me to define an exit...

This happens because a Trading System in Stockalyze must always have both entry and exit conditions defined, regardless of how you intend to use it.

The key point is:

The Scan module may use only the entry/exit condition (based on your Buy/Sell selection)
But the Trading System itself must still be complete (i.e., include an exit rule)

So even if you are only scanning for Buy opportunities:

You still need to define an exit condition
This is just to make the Trading System valid

If your goal is only to create a watchlist (not backtest), you can simply:

Add a basic/dummy exit rule to satisfy the requirement
Ignore it for your scanning purpose

Just keep in mind that such a system won't produce meaningful results if you later use it for backtesting.

[Gd iPas]

Actually Scan Module is using the Trading system criteria to scan.

Both are connected and are not independent.

If I ignore the exit rule then there is a popup " Condition for long exit is not defined"

How do i define a Dummy exit rule ? Can you share a dummy exit rule .... [ Is it like Price > 0 or something else ]

Also if EXIT rule is mandatory then why is the SCAN module asking of check BUY/SELL/SHORT/COVER becasue these are ultimately getting defined in the TRADING system chosen and not the SCAN module.

https://stockalyze.com/help/manual/images/stock-screener-dialog.png

It shows Configuring EXIT rule ( i.e SELL ) is manadatory yet SCAN module is giving option to uncheck SELL and SHORT module if i just want to BUY ....Also whats the difference between Sell and Short (Buy and Cover )  in terms of Scanning stocks.

I m not sure whether I m able to convey it properly.

[Sacha]

You're right that the Stock Scanner uses the Trading System, but it only uses the part relevant to what you select:

BUY → Long entry condition
SELL → Long exit condition
SHORT → Short entry
COVER → Short exit

Both are connected and are not independent.

They are connected but the connection is only one way, i.e. Stock Scanner uses Trading System but Trading System is not only for scanning stocks, it can also be used for backtesting. When you define a Trading System it is saved for future use. So, even when you have come to define a Trading System from Stock Scanner workflow, later the same Trading System can be used for backtesting as well. So, the definition of Trading System has to be complete.

If I ignore the exit rule then there is a popup " Condition for long exit is not defined"

A Trading System in Stockalyze must always be complete (entry + exit), mainly for consistency and backtesting. The fact that you want to use the Trading System for scanning doesn't change that requirement.

How do i define a Dummy exit rule ? Can you share a dummy exit rule .... [ Is it like Price > 0 or something else ]

Yes, you can use something simple like Close > 0.

.Also whats the difference between Sell and Short (Buy and Cover )  in terms of Scanning stocks.

The Trading Systems in Stockalyze allows you to define different rules for long entry (BUY) and short exit (COVER), similarly for long exit and short entry. You can chose for them to be same, for example, you can select "Same as SELL" in the tab that defines conditions for SHORT.

Let me know if this clarifies your doubts.

[Gd iPas]

I got it....Thanks a ton for all the clarification and being patient with me :-)
It means a lot to  me

But all these aspects being included in some document in future  would be  of great help for the users :-)

Any public roadmap for the great product as of now ?

[Sacha]

I got it....Thanks a ton for all the clarification and being patient with me :-)
It means a lot to  me

I am glad my explanations were helpful.

But all these aspects being included in some document in future  would be  of great help for the users :-)

Yes, we are updating the help doc.

Any public roadmap for the great product as of now ?

We had a list of future plans. It is still available here: https://stockalyze.com/future-plans.html. But it is not updated and some of the items have already been added or improved.
There are some items that are in plans but not mentioned in this page. Maybe we will update it.