Scanning for opportunities
The Explorer is one of the most powerful tools in Chartsy|One. Once you have an ASCII database file imported or linked in Chartsy|One you can use the Explorer Tool to scan through all the symbols contained in the ASCII files. The topic of importing ASCII data into Chartsy|One was covered in the previous tutorial by the example of importing historical data downloaded from Stooq. In this guide we will take a next step and explore the capabilities of the Explorer tool.
The goal of this guide is to use an existing exploration to screen for stocks entering consolidation state with decreased volatility. Next we will inspect the charts of found stocks to further narrow the selection and pick the most promising instruments for trading.
Start by opening the Explorer tool in Chartsy. You can open the Explorer by selecting Exploration item from the Tools menu; finding it on the main tollbar; or by pressing Ctrl+E keyboard shortcut. You will be presented with the Explorations window showing a list of ready-made exploration samples shipped with the Chartsy program.
The presented Explorations window allows you to manage existing explorations or create new ones. For the purpose of this guide select existing "Consolidations" exploration and press the Explore button.
New "Select Symbols for Exploration" window will be displayed. From there select the symbols or symbol groups you want to be included in the exploration. If you have successfuly completed the previous tutorial, you should already have an ASCII database from Stooq attached in Chartsy. Select the checkbox near this ASCII database item and then press "Explore" button to continue.
The exploration result table will be presented. The result table contains a row for each explored symbol and a set of custom columns as defined by the exploration script. From this table you can:
- Sort columns in the table by clicking on the column name header.
- Sort the table by multiple columns, by clicking on the column name headers while holding down the Shift key.
- Open a chart for a single symbol, by clicking with right mouse pointer on a row and choosing Open Chart from the popup menu.
- Open a chart for multiple symbols, by selecting multiple rows in the table, clicking with right mouse button on the selection and choosing Open Chart from the popup menu.
For the purpose of this guide we will continue with the multiple symbols chart option. Select multiple rows in the table, starting from those having the smallest values of Squeeze % property.
A new chart tab will be opened showing initially a candlestick chart for the first symbol from the selection list. You can easily switch the chart to the next symbol (and the previous one) using the Right and Left keyboard keys respectively. If the chart does not respond initially to the arrow keys, click the Next button of the symbol switcher component located at the top left corner of the chart first, and then navigate using keyboard arrow keys.
Quick navigation between selected symbol charts allows a trader for efficient visual inspection of symbols already preselected using an automatic exploration tool.