Create Your Own Scan Templates

Create Your Own Scan Templates

When you launch the Advanced Scan Workbench, this is the default scan criteria entered in the Scan Criteria box:

[type is stock] and [sma(20,volume) > 40000]

This is pretty broad, and may include stocks that you would not normally be interested in, such as relatively thinly-traded stocks, penny stocks, foreign stocks, and/or ETFs. Most people have a set of universe-defining criteria that they use on almost all scans. Yours may be something like this:

[type is stock]
and [[exchange is NYSE] or [exchange is NASDAQ] or [exchange is AMEX]]
and [close > 10]
and [daily sma(50,volume) > 200000]

That would take a long time to type in for each and every scan you create. However, there is a workaround that can make it faster and easier to add your default universe-defining criteria to any new scan. Just follow the instructions below to create your own scan “template”.

Creating a Scan "Template"

Step 1:

Go to the Advanced Scan Workbench and start a new scan.

Step 2:

Replace the default scan criteria with the universe-defining scan criteria that you want to use in most scans.

Step 3

Save the scan. We recommend starting the scan name with a zero, so it appears near the top of your list of scans:

That's all you need to do to create your scan template.

Using Your Scan "Template"

Once you've created the template, it's simple to use it for creating a new scan. Just follow these steps.

Step 1:

Go to the Advanced Scan Workbench, and open the scan template.

Note: you can also load the saved scan directly from Your Dashboard, by choosing the scan from the “Select Your Scan” dropdown menu and clicking the “Edit Scan” button.

Step 2:

Click the “Save As” button.

Step 3:

Save your scan with a name that indicates what it will be used for.

Step 4:

Add any additional scan criteria you want. Remember to save the scan when you're done adding criteria.

Adding More "Templates"

This simple “template” trick can really speed up the creation of new scans. You can even add more than one template: perhaps you want one with your standard criteria for scanning ETFs. Just add those criteria to a new scan and save it with a descriptive name like “001 ETF Scan Template”.

Use this new template for creating ETF scans, and your original template for creating stock scans.