To effectively use the scanner, you need to understand how it works on different timeframes and especially, the difference between Daily LTP and Daily EOD scans.
Scan Results for Different Timeframes
Intraday timeframes: 5 mins to 1 Hour
All intraday scans are run on previous closed candle. It is widely considered a good practice to wait for the candle close to confirm the trend or signal.
How does Auto Scan work for Intraday scans?
If Auto Scan is enabled, you will receive a notification every time the stock meets your criteria & new stock is added to the scan results.
Eg: If Auto scan is enabled on "Price crosses above SMA50" on 1 hour chart, if Reliance appears in the scan result for 10-11 am candle, you will be notified instantly at 11:00 am. If price goes below SMA in the next candle & again crosses above the SMA in 1-2 pm candle, you will be notified again at 2:00 pm.
Daily End of Day (EOD) data is received from NSE at 4:30pm for cash and between 7:30pm to 9:00pm for futures & options.
- During market hours
If you run Daily EOD scans during market hours, scan will run on yesterday's daily candle.
- After market hours
Post market hours, scan will run on today's daily candle and will be updated as the EOD data is received.
How does Auto Scan work for Daily EOD scans?
If Auto Scan is enabled on a scan for Daily EOD, you will receive a notification after Daily EOD is received from NSE. Since this scan is dependant on the EOD data received from NSE, there can be slight variations in the time that your EOD scan is autorun everyday.
Only for Daily LTP scans, Live candle price is taken into consideration. These scans will show the latest results every time they are run.
How does Auto Scan work for Daily LTP scans?
If Auto Scan is enabled, you will only be notified once a day for every stock. For eg, if Reliance crosses R3 at 10:00 am, you will be notified instantly. However, if it crosses R3 again at 2:00 pm, you will not be notified. This is done to reduce noise from sideways movement.
Queries or Feedback
If you have any questions or suggestions, kindly reach out to our team.