How to create scanner in chartink | 15min breakout stocks scanner | chartink screener

What This Video Is About

This video tutorial demonstrates how to create a custom stock scanner on the Chartink website, designed to identify stocks experiencing strong breakouts on a 15-minute timeframe, accompanied by a significant increase in volume.

Major Ideas Discussed

• The scanner is set up to filter stocks in the Cash segment, with conditions including a market capitalization of over 1000 crores and a stock price between 100 and 1000.
• Additional conditions include an average volume of over 50,000 for the last 20 candles on the 15-minute timeframe, and the latest candle's volume being double that of the previous candle.
• A breakout condition is also applied, where the closing price must cross above the maximum high of the last 20 candles.
• The video provides step-by-step instructions on how to set up these conditions on the Chartink platform.
• Example stocks that meet these conditions are discussed, including Patanjali Foods, Eternals, Chase Energy, and Marine Electricals.
• The video concludes with guidance on how to enter a trade based on the scanner's results, including setting a buy point above the high of the breakout candle and a stop loss at the low of the breakout candle, with a minimum risk-to-reward ratio of 1:2.

What to Watch Next

Viewers are encouraged to monitor the stocks identified by the scanner and adjust their trading strategies accordingly, considering the risk-to-reward ratio and stop loss settings.