This is a screener that can identify assets that are overbought (% growth) or oversold (% decline) than normal within a selected time period (timeframe).
The market is governed by laws, buy low and sell high, but without automated scanners, it would be impossible to identify assets that are overbought or oversold during the week, current hour, or month, for example. is very difficult.
There may be dozens or hundreds of instruments, and it may not be possible to physically analyze them all manually.These issues can be easily resolved using a screener
What Screener Can Do
- Scanner can be used with any TF
- Scanner works with currencies, stocks, cryptocurrencies, commodities, indices and other commodities
- The logic of identifying assets is universal as it is based on the fundamental laws of the market.
- With the help of screeners, you can work according to different strategies. The most common are pumps and dumps.
![](https://c.mql5.com/6/915/market-screener-for-mt4-screen-2671.png)
Reveals the average value of each instrument – the screener SoftimoTrade Screener not only determines the overbought and oversold status of an asset on the selected TF, but also the average price change of this instrument over the selected time period. Calculate.
Additionally, all commodities that are currently growing or declining higher than normal will be colored with the color of your choice, after which you can open the selected commodities individually for more detailed analysis.
Strategy variants using screeners
- Overbought Assets ↓ In the table, look for assets whose current overbought index is higher than normal, go to the charts to analyze the asset in more detail, and if you find an interesting entry point, move the asset along the trend. to sell.
- For upside oversold ↑, look for an asset with a higher than normal current oversold index, go to the chart to analyze the asset in more detail, and if you find an interesting entry point, follow the trend and follow the asset. buy.
Publish SL/TP within your trading system.
A more detailed analysis means looking at levels, trends on other timeframes, underlying conditions for selected products, etc.
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== Main Settings ==
Pressing the ‘A’ button in the overbought table sorts and displays only stocks with higher than normal overbought values. These tools are interesting for finding sales.
Button ‘A’ properties are similar to a table containing oversold assets.
Select Click to Open Template Indicator – Select a template for clicking to open the tool. Each cell has a link to open this chart. We recommend creating a new template with the iPump indicator and naming it the iPump indicator template. Click the link and the indicator will automatically load on your chart. Here are the instructions – https://c.mql5.com/6/896/27n_mb4y51ur.png
== Trend calculation ==
Main Trend Timeframe – Main trend timeframe.[1 つのトレンド]Select the button and the tools will be sorted by this TF.
Secondary Trend Timeframe – Secondary trend timeframe.[2 つのトレンド]When the button is selected, the tool is sorted by secondary and main trend matches.
== Average calculation ==
Average value default multiplication factor – Default average value multiplication factor. The meaning of this setting is to multiply the average by the number specified in this setting. This allows you to find assets that are currently overbought or resold at 1.5/. second time
Use Market Screener
Market Screener MT4 – https://www.mql5.com/en/market/product/72380
Market Screener MT5 – https://www.mql5.com/en/market/product/72400