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Difference between the watchlist and the screener tools

Updated on 2011-03-18 05:48:38

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Both tools analyze assets on a given date and return the ones that meet specified criteria.

Here are the features that are only available in the watchlist plug-in:
- Watchlist is automatically updated when a new stock or security meet the criteria
- Selecting whether the criteria must be met once or for all past N-bars/days/periods (This can be simulated in the screener tool).

Here are the features that are only available in the screener plug-in:
- Creating trading rules based on composites ("comp" function - Example: Stock must be among the top 10 in terms of volume)
- Selecting a specific date or bar to analyze


Usually the screener is used when you are in the stage of creating a screen or strategy, while the watchlist is best applied once the screen or strategy is created and confirmed.

If your trading rules are based on composite functions (average, sum, count, max and min) then you can create a watchlist that returns the same results by creating that composite/index using the composite tool (A tool that creates composite/index symbols), instead of using the composite function "comp" (Which is not supported by the watchlist tool).

However, if your rules are based on the rank and percentile composite functions, then your only option is to create your screen or strategy using the screener tool.











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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.