Creating a Custom Stock Screener Using Pine Script in TradingView

Struggling to create a custom stock screener in TradingView using Pine Script? This guide walks you through building a simple scanner for moving averages on an hourly chart.
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Creating a Custom Stock Screener Using Pine Script in TradingView

If you’re new to TradingView and looking to design your own scanner for stocks utilizing moving averages, you might be faced with a few challenges. Specifically, you might find that while the Stock Screener offers various filters, it doesn't allow for customization with the moving averages you prefer, such as the 13 and 30 Simple Moving Averages on an hourly chart. This situation prompts a common question: Can I create a scanner or stock screener in Pine Editor?

Understanding the Limitations of Pine Script

Currently, it's not possible to implement a fully autonomous stock screener based purely on Pine Script that scans for standalone stocks. However, you can still create a script that tests specific symbols to check if they meet your moving average criteria. This approach allows you to add a limited number of symbols and assess their performance without relying strictly on the TradingView Stock Screener.

Solution: Creating Your Own Stocks Screener in Pine Script

Let's break down how you can create a custom script in TradingView to identify stocks based on your specified moving averages.

Step 1: Setting Up Your Pine Script

Firstly, you'll need to initiate your script and define the symbols you wish to monitor. Here’s an example script that evaluates if the latest closing price is above your selected moving averages.

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Step 2: Define the Moving Average Function

Next, create a function that calculates the moving averages for the specified symbols. This will allow you to retrieve the moving averages for the 13 and 30-period lengths on an hourly chart.

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Step 3: Implementing the Logic to Compare Prices

For each symbol, compare the current price and establish a method to determine if it falls below either of the moving averages:

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Step 4: Creating the Screener Table

Finally, design a table that will display the results of your script, highlighting whether each stock passes your criteria. This will give you a clear visual representation of the stocks that meet your defined moving averages:

[[See Video to Reveal this Text or Code Snippet]]

Conclusion

While you cannot simply scan for stocks using Pine Script alone, you can definitely create a custom solution that monitors specific stocks for their adherence to your desired moving averages. By following the steps outlined in this guide, you can quickly set up a basic scanner that meets your trading strategy. This approach not only provides flexibility but also enhances your TradingView experience by giving you tailored insights into your selected stocks.

Feel free to customize the script further by adding additional symbols or refining the parameters to fit your trading preferences. Happy trading!