How to Read Stock Scanner Results Like Scanance

What Is a Stock Scanner?

A stock scanner (or screener) automatically filters thousands of stocks based on specific technical criteria. Instead of manually checking charts one by one, a scanner does the work for you and presents a shortlist of stocks that match your criteria.

Scanance scans 10 global markets (S&P 500, NASDAQ 100, DOW 30, NYSE, FTSE 100, DAX 40, CAC 40, Nikkei 225, ASX 200, and TSX) using four technical indicators: MA150, MA200, RSI, and MACD.

Understanding Buy and Short Signals

Buy Signals

A buy signal means the indicator suggests the stock is in a favorable position to go up. For each indicator, here’s what triggers a buy:

• MA150/MA200 Buy — Price is within 1% above the moving average. The stock is sitting on a key support level with an upward-sloping trend.
• RSI Buy — RSI is below 30 (oversold). The stock has been sold off heavily and may be due for a bounce.
• MACD Buy — The MACD line has crossed above the signal line (bullish crossover). Momentum is shifting upward.

Short Signals

A short signal means the indicator suggests the stock is in a favorable position to go down. Short signals are the mirror image of buy signals:

• MA150/MA200 Short — Price is within 1% below the moving average. The stock is hitting resistance with a downward trend.
• RSI Short — RSI is above 70 (overbought). The stock has rallied too far too fast and may be due for a pullback.
• MACD Short — The MACD line has crossed below the signal line (bearish crossover). Momentum is shifting downward.

The Signal Table Explained

Each signal in Scanance shows several columns:

• Ticker — The stock symbol (e.g., AAPL for Apple).
• Price — The latest closing price.
• MA150 / MA200 — The moving average value.
• Diff % — The percentage distance between the price and the moving average. Values close to 0% are the strongest signals.
• RSI — The current RSI value (0–100 scale).
• MACD — The MACD line value.
• MACD Hist — The MACD histogram value (positive = bullish momentum, negative = bearish).
• Note — A human-readable description of why the signal triggered.

Confirmed Signals: The Strongest Signals

The Confirmed tab shows stocks where at least 2 out of 4 indicators agree on the same direction. These are the highest-probability setups because multiple independent signals are confirming the same thesis.

How to Use Scanance Results in Your Trading

1. Pick a market — Start with a market you know (e.g., S&P 500 or NASDAQ 100).
2. Check the Confirmed tab first — These are your strongest setups.
3. Investigate further — Click on a ticker to see its fundamentals, financials, and company description.
4. Check the chart — Open the stock in your charting platform and verify the signal visually.
5. Plan the trade — Define your entry price, stop-loss, and profit target before entering.
6. Manage the position — Once in the trade, stick to your plan. Don’t move your stop-loss further away.

Indicator Toggles

You can customize which indicators appear using the Indicators dropdown on the scanner page. Each indicator (MA150, MA200, RSI, MACD) has its own toggle. Turn off indicators you don’t use to simplify the view. At least one indicator must remain active.