My goal is to screen patterns EOD. I create a building block strategy like this
Then submit this building block strategy to tools/new strategy screener window
It never yielded anything for the last three days, therefore i decided to look at log viewer
and here i found error message about having a atleast one building block which I have, so I dont understand what I am doing wrong, I have tried both ways like entry block with pattern search block and exit block and also without exit block but error persists.
I also did what is suggested in this link
https://www.wealth-lab.com/Discussion/How-to-turn-a-strategy-into-a-screener-9356
error persists
In the end what is the best way to detect a pattern, How do i screen?
I am on build 77.
Then submit this building block strategy to tools/new strategy screener window
It never yielded anything for the last three days, therefore i decided to look at log viewer
and here i found error message about having a atleast one building block which I have, so I dont understand what I am doing wrong, I have tried both ways like entry block with pattern search block and exit block and also without exit block but error persists.
I also did what is suggested in this link
https://www.wealth-lab.com/Discussion/How-to-turn-a-strategy-into-a-screener-9356
error persists
In the end what is the best way to detect a pattern, How do i screen?
I am on build 77.
Rename
The Screener doesn’t support chart patterns Blocks, it has a limited selection of Blocks that includes the standard ones and Advanced Smoothers indicators.
I just realized we need to update the help to reflect this limitation!
I just realized we need to update the help to reflect this limitation!
We could also add a new option in BB Strategies to run it on the last bar of data only, effectively letting you turn it into a local screener.
You could then run it on the S&P 500 from WealthData or All Ordinaries from Norgate, for example.
You could then run it on the S&P 500 from WealthData or All Ordinaries from Norgate, for example.
So there is no way you can screen for chart patterns. It was my biggest motivation to use wealthlab. What about backtesting
Yes, there is a way. Click the button on the toolbar, "Open as C# Strategy".
Save the new C# Strategy.
Add the following 2 lines at the start of the Execute method, like this:
You now have a Strategy that you can run as a screener on any DataSet.
Save the new C# Strategy.
Add the following 2 lines at the start of the Execute method, like this:
CODE:
public override void Execute(BarHistory bars, int idx) { if (idx < bars.Count - 1) return;
You now have a Strategy that you can run as a screener on any DataSet.
Another way without requiring C# Code or changes to code.
1. Preferences > Trading > Use Live Positions
2. Set up the Strategy in the Strategy Monitor.
2a. For the broker, use a Dummy Broker that doesn't have any positions.
3. Right click > Run Now (or wait for the scheduled run)
Save the Workspace so you can use this screener every day.
1. Preferences > Trading > Use Live Positions
2. Set up the Strategy in the Strategy Monitor.
2a. For the broker, use a Dummy Broker that doesn't have any positions.
3. Right click > Run Now (or wait for the scheduled run)
Save the Workspace so you can use this screener every day.
Thanks for quick and precise answers. Is there a way to use screener without writing a strategy. I want to create a dataset based on certain criterias and use that for backtesting.
No.
At a minimum you need to create a [compatible] Strategy that has an entry block (Buy or Short at Market) with your criteria (conditions).
At a minimum you need to create a [compatible] Strategy that has an entry block (Buy or Short at Market) with your criteria (conditions).
QUOTE:
Is there a way to use screener without writing a strategy.
Well, kind of. Install the DataExtensions extension first, then restart WL, and open Data Manager and create a new dataset based on Stock Scanner. Follow the wizard to set it up. You might want to search the forum for Stock Scanner for more information first.
Stock Scanner won't be as flexible as creating a special strategy, but it can effectively screen for different stocks based on a criteria you set up.
QUOTE:
You might want to search the forum for Stock Scanner for more information first.
...and don't forget to look it up in the built-in Help. Type in "scan" to find it. If you can't, you should install the DataExtensions (and restart WL) as the scanner is part of it.
I’m working on some enhancements to our Strategy Screener tool to both clear up some ambiguities about which Strategies will work on the remote screener, and adding the ability to do a local screen right there against your own data with any Strategy.
aha so thats the difference between scanner and screener. I see finviz can combine both pattern based and technical criterias on one search and they call it screener.
My motivation to come to wealthlab was to find about how to detect patterns, quantify them, backtest and if possible autotrade them. Now what I learned is screenr or scanner can not do pattern. I know patterns can be done in building blocks so thats a good thing
My motivation to come to wealthlab was to find about how to detect patterns, quantify them, backtest and if possible autotrade them. Now what I learned is screenr or scanner can not do pattern. I know patterns can be done in building blocks so thats a good thing
QUOTE:
I see finviz can combine both pattern based and technical criteria on one search ...
Although pattern based trading can be very important for judging an entry into a position, I'm not sure patterns are that relevant to screening for stock to include in your trading datasets. Chances are a pattern won't show up twice in a stock for a long time, so having a particular pattern in stock for screening may not be that helpful.
In contrast, looking for patterns when trading is very important.
For screening, I look for identifiable opportunity. For example, does a stock have large swings in accumulation/distribution? And if so, can my strategy identify these opportunities early enough for a trade entry?
The Screener will be able to do patterns in the next WL Build, stay tuned.
Awesome Glitch, I appreciate
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