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this video is part of the algor Traders
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toolkit series wherein I share with you
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various practical and useful tools that
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you would need to have in your toolkit
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in case you want to become an efficient
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trador I'm going to be talking about one
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of my favorite tools the charting
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scanner if you are an algo Trader and
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you're not currently using this powerful
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tool then you may be missing out on all
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the fun in this video I'm going to be
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introducing you to a small python
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utility that can automatically scrape
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and extract charting results into a data
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frame I'm going to demonstrate a
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practical example of how I use this
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utility in one of my own trading
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strategies and finally talk about how
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charting can be of immense help to you
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in speeding up the process of building
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and deploying strategies I'll be sharing
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the link to our community website fat.in
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and you can download this python utility
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for free from this location so let's get
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started if this is your first time here
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welcome my name is VI and I'm a
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financial independent alut trador this
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channel is all about building a
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community of algo Traders we discuss
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everything about Alo trading using
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python building and pesting trading
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strategies Market updates and much more
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please do visit our community website
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trader.net Channel Fab wealth where I
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talk about my own Financial Independence
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journey and share tools methods and
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strategies that help me achieve my
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Financial Freedom thank
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you chatting screener doesn't need a lot
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of introduction the fact that you have
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clicked on this link tells me that
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you're already aware of what chatting is
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and how it works so we're not going to
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spend a lot of time trying to explain
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how this tool works and we will directly
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jump into the python utility and see how
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that works at the outset a charting
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screener you typically design or input
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your screen and then when you run scan
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you get the results here the python
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utility in question is going to directly
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scrape this particular screen and then
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download the output from this screen
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into a data frame and this is the python
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utility that I'm talking
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about you would need to install these
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dependencies which are request spanders
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and beautiful soup 4 and the utility
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takes two primarily two inputs one is
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the the URL of the the screen which is
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which is this typically and then the
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number two is the scan Clause to find
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out the scan clause for your respective
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screens all you need to do is just right
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click on your web page go into
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network and then try running scan you
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would see a process one of these process
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comes up and then click on it and then
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go into payload and the scan Clause is
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right at the top so all you need to do
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that as part of your input into the
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here so as I said it takes two inputs
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one is the the URL that we looked at and
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then the scan clause and then once you
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provide this and then
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run you would get the exact same results
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as you see on the scanner itself
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and this is in a data frame so now you
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can go ahead and use this directly in
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your algo and then apply various
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strategy rules on top of it so this is
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how simple it is this utility is
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available for free for download and this
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is available in our community website
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which is factor.in and then I'll provide
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the link in the description now that you
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know how the utility works let me just
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give you an example of how I use it for
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my strategies in fact I use chatting
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screen for multiple strategies of mine
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here's one example of how I do it this
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particular strategy is called Trevi uh
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the the logic of the strategy is pretty
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simple you have the 5 20 50 100 and 200
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smas so whenever these smas come
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tight range uh range often within 3% of
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the the current closing price the
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chances of it breaking out is pretty
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high right so you typically look for
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these tight ranges and scan for those
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stocks and then wait for the breakout
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and then trade on those that's the
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overall idea about it for example in the
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scan that we just ran htfc came up as
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one of those eligible stocks so you see
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there is a a tightening of all The smas
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Happening Here the smas are all squeezed
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up in a very tight spot within the 3% uh
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range of the the last closing price and
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then whenever this happens for example
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in the previous time this happened you
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see this huge breakout rally happening
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and this is what we are actually looking
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for and this is my algo dashboard that I
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built as part of my algo trading
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platform and Trevi I've been running
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this on one of my smaller accounts BS
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and uh the brown part is the the equity
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curve of the strategy and the white part
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is the nifty50 so you see the the equity
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curve looks pretty good the draw down
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the underwater plot is also like less
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than 3% this is actually 0% because this
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particular strategy does not have a stop
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loss I'd uh made a couple of mistakes
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due to which I had to close two of the
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trades because of which you see this
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otherwise you don't close any trades you
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just keep it open until your targets are
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Hit And even if you look at the
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Benchmark versus strategy
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um it's almost a three multiplier
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difference the strategy beats The
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Benchmark so it's a very simple strategy
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and yet at at the same time very
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effective the reason why I love this
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particular utility and chatting
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specifically is that this particular
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logic if I had to build it within my
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python algo it's going to take quite a
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bit of coding uh I won't say it's very
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complex but at the same time you know
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it's not simple either so it's going to
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uh require some serious amount of coding
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to get this logic uh built but in this
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case since charting does most of the
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work all I have to do is just download
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the results pick up the top one and then
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apply it to my strategies and and make
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buy or sell decisions based on that so
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that's how simple and effective charting
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can be uh if you combine charting and
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the the python utility that I just
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talked about so the successful
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combination of charting and the python
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utility that I just talked about can
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drastically cut down the time it would
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take for you to automate your strategies
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if you found some value in this video
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please consider subscribing and liking
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the video and I will see you soon in
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another video until until then take care
