HiLo Screener

The HiLo Screener indicator allows traders to monitor trend reversals across multiple assets simultaneously based on the Gann HiLo Activator logic. It provides a real-time dashboard that categorizes selected symbols into bullish or bearish states, streamlining the process of identifying trend shifts without manually switching between charts.

Usage

To use the HiLo Screener, users must input their desired symbols and corresponding lengths within the script settings. The tool then displays two distinct panels on the chart:

• Bullish Panel: Lists all symbols that have recently broken above their high mean averages, indicating a potential upward trend reversal.
• Bearish Panel: Lists all symbols that have recently broken below their low mean averages, indicating a potential downward trend reversal.

This setup is particularly useful for swing traders and trend followers who need to identify when a specific set of stocks, ETFs, or cryptocurrencies are entering a new phase.

Details

The script utilizes the Gann HiLo Activator concept, which relies on simple moving averages (SMA) of highs and lows. A bullish signal is generated when the closing price exceeds the SMA of the highs from the previous periods, while a bearish signal occurs when the closing price falls below the SMA of the lows. The screener automates this calculation for up to 10 symbols using request.security, allowing for multi-symbol analysis on a single interface.

Settings

Panel Settings

• Panel Position: Determines where the dashboard is displayed on the chart (Top Right, Middle Right, or Bottom Right).
• Default Timeframe: Sets the specific timeframe used for the Gann HiLo calculations across all screened symbols.

Ticker Settings

• Ticker (1-10): The specific symbol name to be scanned (e.g., AAPL, BTCUSD).
• Length (1-10): The lookback period used for the Gann HiLo Activator for each respective ticker.

FAQ

How do I access HiLo Screener?

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

Can I screen more than 10 symbols?

The current version of the tool is optimized to scan up to 10 symbols simultaneously to maintain performance and comply with platform limitations.

Why is there a delay in the trend updates?

The screener calculates reversals based on the closing price of the selected timeframe. Additionally, some symbols may require a real-time data subscription from the exchange for instantaneous updates.