For traders who make use of a mechanical trading system, getting alerts at important technical events can determine the difference between staying glued to their computer screens to having time away from the screens yet being in control. MarketInOut is one such tremendously useful technical screening tool that enables traders to not just set alerts but also determine the effectiveness of their trading strategy.
Take the example of a simple moving average crossover system. Traders can either check their charts every few hours or can set an alert using a technical screener such as MarketInOut that alerts them when such an event happens. Besides alerting the trader, MarketInOut can also help traders to scan across the many forex and stock pairs.
MarketInOut – Technical Screener Introduction
MarketInOut is a web based technical screener for Stocks and Forex. The service offers a wide choice of instruments. For example, traders can scan stocks across US, Canada, Germany, India for example as well as complete Forex pairs including exotics such as USDNOK, EURSEK and so on.
MarketInOut’s service can be summarized as follows:
- Screener: Find stocks or forex pairs that meet your technical requirements
- Backtesting: Backtest your mechanical trading systems to get an idea on its past performance
- Technical Screener: Set up indicator specific scans such as MA crossovers, MACD, RSI signals, Ichimoku signals and many more
- Build your Watch list: Set up custom watch list across stocks and forex and run the scans against these specifically selected instruments
- Patterns Screener: Make use of the various chart patterns across different chart types such as Renko, Candlesticks, etc.
- Portfolio Tracker: This option allows users to monitor their open trades by entering the trade values into the Portfolio section. This gives traders a comprehensive up to date information on their open trades
- Price Alerts: Choose a symbol and price and get email alerts when the price level is reached
- Correlation Indicator: Choose a symbol to find the most closely correlated symbols. For example find all forex pairs that are correlated to EURUSD in terms of positive and negative correlation
Types of Scans – MarketInOut
Quick Screener: With this type of scan, users can choose from a predetermined technical criteria such as RSI(14) crossover above 20, or a MACD(12,26,9) divergence and so on. This screening type does not allow for much modification but users can combine different technical criteria into one scan. For example, you can search for forex or stocks where RSI(14) is above 20 and below 50 and MACD Histogram crossed above the 0-line.
Flexible Screener: This type of scan allows users to input custom variables. So users can therefore scan for forex or stocks where RSI(21) crossed above 20 line, or Stochastics (21,5,5) shows a bearish divergence. As with quick screener, flexible screener allows for users to combine different technical criteria into a single scan
Formula Screener: This type of scan allows for users to build their scan based on mathematical formulae rather than using just the default indicators. For example, using the formula screener, users can scan for forex pairs or stocks where the high price is above the high two days ago.
Each of these scan types therefore allows users a great level of flexibility. The scans can be saved with the option to send an email alert every time there are instruments that meet the scan criteria.
If you want to scan for forex pairs on a daily time frame that have a bearish (or a bullish) engulfing candle, then MarketInOut helps to make it easy
MarketInOut – Pricing
Users can purchase subscription based packages for using MarketInOut. The subscriptions are based on:
|6 months||$119||Buy Now|
|1 Year||$199||Buy Now|
|2 years||$299||Buy Now|
Payments are processed by SWReg and payments can be made using Credit/Debit Cards or Paypal. Account activation is instant and the above subscriptions are non-recurring. Meaning that customers can choose to update or renew their subscription only if they want to.
Overall, MarketInOut Technical screener is definitely a value addition to traders both active in Forex or stocks. The reasonable pricing offers traders to not only backtest their trading strategies but also receive alerts when a particular technical criterion is met.