Market Scan Instruction Guide

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Download the Set Up files

If you purchased the scan software and have have not received a licence key    Click here to have the link sent to you again

Setting up OmniTrader to run the SCAN

To get the most out of the SCAN system we suggest you read the following set up instructions

Even if you are an experienced user you will find this all familiar however please take the time to review as you may learn some thing and it will improve your experience in running the SCANS

Create a new focus list "Open" the saved Focus List/profile you downloaded, its called "Market Scan", this is already in the format you will need. Select the shares you might trade, such a ASX 300, or All Resource Shares. You should use this focus list just for the purpose of running daily scans The shares which qualify can be copied into new focus lists for trading purposes. Note if you run all SCANs it will take some time so consider the number of symbols you include, there is no point in running the whole ASX if you can not use the data for decisions.

Set up the periods you want to examine go Edit Data Periods and select Daily and Weekly, this will allow you to analyse the scans in two or more time internals  (you could add monthly if required)

Select the Scans Select the scans you want to run against this list Select the TO DO list - strategies (or go Edit Trading Strategies), you can select all scans you have downloaded or just those you need as below De select any other strategies in your profile which are not SCANs ( eg. Trending, Reversals, Breakouts)

Modify the focus list - +++++   only required if you did not down load the "Market Scan" profile provided  ++++++ Modify the focus list layout so you see only what you need (saves confusion), you select the wrench icon (third from the right) Then modify your lay out to only show the following columns. Remember this is a scan not a schedule of buy sell signals.

The result when run will look like this

Set up a Filter so you only see the results So that your lists only show shares which pass the scan test, you will need to filter the list Click the filter button on the top of the focus list - see below it has a red ! mark in the filter icon because it was already active Select New Longs and Enter Longs then click the filter button at bottom

To run the SCAN Select the TO DO - select run analysis and click NOW

Scan Results You can see the results of all SCANs however it is best to review the results of each scan one at a time, you should use the drop down "strategies" button and select the SCAN you wish to review. Use the default standard chart. You can create your own charts to view the indicators if required. Note the vote line at the base of the chart shows all dates when this scan was satisfied.

Example

This example is a scan of "Gap Oversold" with the time frame set a daily On the vote line you can see all cases when the scan condition was satisfied Its the most recent vote which triggered the signal This "signal" on the vote line should not be read as a "buy or sell" - its just when the scan condition was satisfied Remember to Select the Scan chart template to help you read the chart

Additional Filters

Often you will find that to many shares satisfy the scan, so if you want to reduce the list further, you can use the Filters built into a focus list for such items as Price and Volume. The following is an example of setting Price > $1  and Volume > 100000 Ensue you tick the boxes shown in example

Speed up the Analysis

OT can become slow if you have large numbers of shares to examine with all scans turned on so ensure your settings look like the following Make changes to test periods, and analysis settings

Common Error

If you get the following error on running the Scans - it will be because you did not save your licence file correctly

More Information

If you would like to understand more about how filters work with strategies then review this link