Overview

The Settings section of FinStudio’s Real-time Scanner provides a comprehensive suite of configuration options that allow users to tailor the scanner’s functionality to meet specific trading needs and preferences. This flexibility is essential for optimizing the scanner's performance and aligning it with various trading strategies.

Settings Components

Input Data

• Description: Configurations for input data in the Real-time Scanner mirror those available in the backtester. This ensures consistency in how data is handled across different tools within FinStudio.
  
  
• Purpose: Allows users to specify the source, type, and scope of data used in real-time scanning, ensuring that the analysis is based on relevant and accurate information.
  
  

Patterns

• Description: Users can select from a broad range of patterns to include in their real-time scans. This selection is crucial for focusing the scanner’s efforts on the most pertinent and potentially profitable patterns.
  
  
• Purpose: Enables traders to customize which patterns the scanner will identify and track, aligning the tool’s focus with their trading strategies.
  
  

Parameters

• Description: This setting allows users to define specific entry and exit rules for identified patterns. These rules are vital for automating trading decisions based on the scanner’s findings.
  
  
• Purpose: Provides the mechanism for setting precise criteria for when to enter and exit trades, which is fundamental for executing strategies effectively.
  
  

Exit Signals

• Description: Additional exit signals can be configured, akin to those settings found in the parameters. These signals provide criteria for closing positions independent of the scanner’s primary pattern-based rules.
  
  
• Purpose: Enhances risk management by enabling the configuration of diversified exit strategies, protecting investments from unexpected market movements.
  
  

Analyzer

• Description: The Analyzer settings allow for detailed customization of how analysis results are calculated and reported. These settings include adjustments for performance ranking periods, volume statistics periods, and trend detection settings.
  
  
• Purpose: Tailors the analysis to better suit specific market conditions or personal preferences, optimizing the usefulness and relevance of the scanner’s outputs.

Conclusion

The Settings section is a critical component of FinStudio’s Real-time Scanner, offering extensive customizability that empowers traders to mold the scanner to their precise specifications. By adjusting input data, selecting specific patterns, defining trade parameters, setting additional exit signals, and configuring the Analyzer, users can enhance their trading strategies, improve decision-making accuracy, and potentially increase the profitability of their trading activities.