Scalping Screener - 15min

The Scalping Screener - 15min indicator is a specialized intraday tool designed to identify and track scalping opportunities across up to 36 different symbols simultaneously. It utilizes a candle-breakout methodology combined with VWAP and relative strength filters to highlight high-probability, short-term trade setups specifically for the 15-minute timeframe.

Usage

The tool is intended for intraday scalping, meaning trades should ideally be initiated during active market hours and closed before the session ends.

Entry Logic A BUY signal is generated when:

• Two consecutive bullish candles occur where the second candle's high is higher than the first.
• The current candle breaks the high of the second (previous) candle.
• The price and VWAP are above the previous day's anchored VWAP.
• Relative strength (compared to a benchmark like Nifty) is positive.

A SHORT signal is generated using the inverse logic: two bearish candles with descending lows, followed by a breakdown of the previous candle's low, supported by negative relative strength and bearish VWAP positioning.

Exit Logic

• Stop Loss: For long trades, the low of the signal candle (2nd candle) acts as the stop. For short trades, it is the high of the signal candle.
• Target: The target is calculated based on the 1:1 risk-to-reward ratio, using the difference between the signal candle's high and low.
• The script plots "EXIT BUY" or "EXIT SHORT" labels when these dynamic targets or stop levels are hit.

Details

The indicator incorporates several advanced technical layers to filter out noise:

• Anchored VWAP: It calculates a VWAP anchored to the previous day to determine the broader intraday trend bias.
• Relative Strength: It compares the current instrument against a comparative ticker (default "NSE:NIFTY") over 13 and 50 periods to ensure the asset is outperforming/underperforming its benchmark.
• Screener Table: The right side of the chart displays a real-time list of all monitored symbols currently triggering long or short entry conditions.

Settings

• Session Input: Defines the active trading window (e.g., "0935-1415") during which signals are allowed to generate.
• Symbols 01-36: Allows users to input up to 36 custom tickers for the screener to monitor.
• Comparative Ticker (Code-based): The script compares strength against a benchmark, which can be modified in the script source if a different index is preferred.

FAQ

How do I access Scalping Screener - 15min?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Which timeframe is best for this script?

This tool is specifically optimized for the 15-minute timeframe to balance signal frequency with trend reliability.

Can I use this for stocks outside of the Nifty 50?

Yes, you can manually input any symbol available on your platform into the "Symbols" section of the indicator settings to customize your screener.