RadarScreen Overview
RadarScreen is a powerful, real-time opportunity scanner exclusive to the TradeStation platform. Powered by EasyLanguage, a proprietary programming language, RadarScreen allows traders to efficiently scan and sort thousands of global symbols, identifying potential trading opportunities across various markets.
Overview
While a specific establishment date for RadarScreen isn't publicly available, it's an integral component of the TradeStation platform, which itself has been operational since 1982. TradeStation's continuous evolution, incorporating advanced charting tools and features like RadarScreen, has significantly strengthened its position in the competitive trading landscape. The platform's longevity and ongoing development are strong indicators of its reliability and market acceptance.
Regulatory Compliance and Licenses
Detailed information regarding the specific regulatory compliance and licensing of RadarScreen is not readily accessible. However, it's crucial to note that TradeStation, as the parent platform, is a well-established and regulated entity. While RadarScreen's individual compliance details remain elusive, the overall regulatory standing of TradeStation provides a degree of assurance.
RadarScreen Features
Main Features of RadarScreen
Types of Data Scanned: RadarScreen's capabilities extend across diverse global markets, enabling the simultaneous scanning and sorting of thousands of symbols encompassing stocks, futures, currencies, and more. This breadth of coverage provides traders with a comprehensive view of potential opportunities across various asset classes.
Customization Options: A significant advantage of RadarScreen lies in its extensive customization options. Traders can leverage EasyLanguage to create personalized symbol lists and tailor the scanning process to their specific trading strategies and preferences. This level of control empowers traders to focus on the most relevant opportunities for their individual needs.
Technical Indicators Scans: Each row within the RadarScreen interface functions as a mini-chart, providing access to both real-time and historical data. The platform offers hundreds of built-in and customizable EasyLanguage indicators, allowing for comprehensive technical analysis and the identification of key trading signals.
Dynamic Sorting and Ranking: RadarScreen dynamically sorts and ranks symbols in real-time, based on pre-defined technical alerts. This feature prioritizes opportunities based on the criteria most important to the trader, allowing for efficient identification of high-potential trades.
Custom Alerts and Alert Scanning Features: The platform allows traders to establish custom alert rules and powerful visual alerts using EasyLanguage. This ensures that traders are promptly notified of significant market movements or potential trading opportunities matching their specific criteria. The customization of alerts enhances the overall effectiveness of the scanning process.
Customization and Usage
Customizing RadarScreen
Customizing Data Columns: Traders have access to a wide array of price and historical indicator columns, providing considerable flexibility in customizing their analysis and real-time scanning. This granular control allows traders to tailor their view of the market to their specific requirements and trading style.
Creating Custom Watch Lists: RadarScreen facilitates the creation of custom symbol lists, allowing users to concentrate on specific sectors, asset classes, or individual securities. Additionally, the platform supports importing pre-built lists, streamlining the setup process and enabling traders to quickly begin scanning.
Premium Features and Tools
Advanced Charting and Indicators
Access to Historical Data: Each row in RadarScreen offers access to comprehensive historical data. This feature enables traders to perform thorough backtesting and analyze past performance of potential trades, leading to more informed decision-making.
Built-in Indicators: The platform integrates hundreds of built-in and customizable EasyLanguage indicators, supporting advanced analysis and the identification of complex trading patterns. The availability of both pre-built and customizable indicators caters to a wide range of trading styles and analytical approaches.
Customer Support and Resources
Customer Support Channels
Available Customer Service Channels: TradeStation provides a variety of customer service channels, including phone support, email support, and live chat support. This multi-channel approach allows traders to access assistance through their preferred method of communication.
Availability of 24/7 Support and Multilingual Assistance: While specific details regarding 24/7 support for RadarScreen are limited, TradeStation generally offers multilingual assistance, accommodating traders from diverse linguistic backgrounds. The availability of comprehensive customer support is crucial for ensuring a positive trading experience.
Pros and Cons of Using RadarScreen
Pros
Advantages of Using RadarScreen:
- Real-time scanning and sorting capabilities for efficient opportunity identification.
- Highly customizable to individual trading styles and preferences through EasyLanguage.
- Access to a broad range of global markets, allowing for diverse trading strategies.
Cons
Potential Drawbacks:
- The complexity of EasyLanguage can present a steep learning curve for new users.
- Full access to RadarScreen requires a subscription to the TradeStation platform.
Conclusion
Summary of Main Points Covered: RadarScreen is a robust real-time opportunity scanner that empowers traders with advanced analytical tools. Its key strengths lie in its real-time scanning capabilities, its extensive customization options using EasyLanguage, and its access to a diverse array of global markets.
Recommendations: Traders seeking sophisticated market analysis tools and the ability to customize their scanning processes would greatly benefit from utilizing RadarScreen. However, potential users should be aware of the initial learning curve associated with mastering EasyLanguage.
Frequently Asked Questions about RadarScreen
How to create custom watch lists: Within RadarScreen, you can create custom watch lists by adding specific symbols and configuring the desired data columns. Detailed instructions are available within the TradeStation platform's help documentation.
How to set up and use EasyLanguage indicators: EasyLanguage allows for the creation and customization of technical indicators. TradeStation provides extensive documentation and tutorials on how to write and implement EasyLanguage code for indicators. There are also many online resources and community forums where you can find assistance and examples.
How to customize data columns for analysis: You can adjust the displayed data columns in RadarScreen by selecting the desired parameters and indicators from the available options. This allows you to tailor the view to focus on the most relevant data for your trading strategy. The TradeStation platform provides detailed information on how to manage and customize data columns.
References
[1] https://www.tradestation-international.com/global/discover-the-platform/radarscreen/
[2] https://help.tradestation.com/10_00/eng/tradestationhelp/rs/about_radarscreen.htm
[3] https://www.tradestation.com/learn/using-tradestation/tradestation-desktop/quick-tips/radarscreen-scanning-hot-lists/customizing-data-columns-in-radarscreen/
