Best Stock Screening Tool for All Traders.

What is ScanX by Dhan?

ScanX by Dhan is a sophisticated stock screening tool designed to help investors and traders identify potential investment opportunities. It offers a wide range of customizable filters and criteria, real-time data analysis, advanced charting tools, alerts, and backtesting capabilities. This tool aims to enhance the user experience by providing an intuitive interface and comprehensive analysis options.

ScanX by Dhan: An Advanced Stock Screening Tool

ScanX by Dhan is a cutting-edge stock screening tool designed to enhance the capabilities of investors and traders in analyzing and identifying potential stock opportunities. Developed by Dhan, a fintech company focused on delivering innovative financial solutions, ScanX leverages advanced technology to provide a comprehensive and user-friendly experience.

NOTE: For free access to this tool, you must have Dhan Demant & trading account which is free to open and using the link below you can open the account in 5min and access trading view premium chart and ScanX tool for free. Click here to register for free access.

1.Key Features of ScanX

1. Customizable Filters and Criteria: ScanX offers a wide range of filters and criteria that users can customize according to their investment strategies. These filters include technical indicators, fundamental metrics, and other key financial ratios, allowing users to tailor their screenings to specific needs.

2. Real-time Data and Analysis: One of the standout features of ScanX is its ability to provide real-time data and analysis. This ensures that users have access to the most current information, enabling them to make informed decisions promptly.

3. User-friendly Interface: The interface of ScanX is designed to be intuitive and easy to navigate. Whether a user is a seasoned investor or a novice trader, the platform’s layout and functionality are straightforward, making the screening process efficient.

4. Advanced Charting Tools: ScanX includes sophisticated charting tools that help users visualize data and trends effectively. These tools are essential for technical analysis and provide various chart types, indicators, and drawing tools to enhance the analysis process.

5. Alerts and Notifications: Users can set up custom alerts and notifications based on specific criteria. This feature ensures that users never miss out on potential opportunities or significant market movements.

6. Backtesting Capabilities: ScanX allows users to backtest their strategies against historical data. This helps in evaluating the effectiveness of various strategies and making necessary adjustments before applying them in real trading scenarios.

2.Benefits of ScanX Compared to Traditional Stock Screening Tools

1. Enhanced Customization: Traditional stock screening tools often have limited customization options, whereas ScanX provides a highly flexible and customizable platform. Users can create and save their own screening criteria, which can be as broad or as detailed as needed.

2. Real-time Updates: Unlike many traditional tools that may rely on delayed data feeds, ScanX ensures users have access to real-time data. This is crucial for making timely decisions in fast-moving markets.

3. Integrated Technical and Fundamental Analysis: ScanX combines both technical and fundamental analysis within one platform. Traditional tools may focus on one aspect, requiring users to switch between different platforms for a comprehensive analysis.

4. User-friendly Experience: The intuitive design of ScanX makes it accessible to users of all experience levels. Traditional tools can be complex and intimidating for beginners, but ScanX’s user-centric design simplifies the process.

5. Advanced Charting and Visualization: ScanX provides superior charting tools compared to many traditional screening tools. This includes a variety of indicators, chart types, and the ability to draw and annotate directly on charts.

6. Automated Alerts: ScanX’s alert system is more advanced, allowing for detailed and specific notifications. Traditional tools may not offer such sophisticated alert functionalities, making it easier for users to miss important market changes.

7. Backtesting Features: The ability to backtest strategies is a significant advantage. Traditional tools often lack this feature, making it difficult for users to evaluate the historical performance of their strategies.

3. What types of filters and criteria can be used in ScanX?

ScanX allows users to apply a variety of filters and criteria, including:

• Technical Indicators: Moving averages, RSI, MACD, Bollinger Bands, etc.
• Fundamental Metrics: P/E ratio, EPS, revenue growth, debt-to-equity ratio, etc.
• Other Financial Ratios: Price-to-book, dividend yield, return on equity, etc.
• Custom Criteria: Users can define and combine multiple criteria to suit their specific investment strategies.

4. How do the real-time data and analysis features work in ScanX?

ScanX provides real-time data feeds, ensuring that users have the most current information available. This includes real-time stock prices, volume data, and updates on technical indicators and fundamental metrics. The platform continuously analyzes this data to help users make informed decisions quickly.

5. What makes the user interface of ScanX user-friendly?

The user interface of ScanX is designed to be intuitive and easy to navigate. Key features include:

• Simple Layout: Clean and organized layout that makes it easy to find and use different tools.
• Interactive Charts: User-friendly charting tools that allow for easy manipulation and customization.
• Quick Access: Fast access to frequently used filters, criteria, and saved screens.
• Tutorials and Help Guides: Integrated tutorials and help guides for new users.

6. What advanced charting tools are available in ScanX?

ScanX offers a range of advanced charting tools, including:

• Multiple Chart Types: Line, bar, candlestick, and other chart types.
• Technical Indicators: A wide variety of indicators such as MACD, RSI, moving averages, and Bollinger Bands.
• Drawing Tools: Tools for drawing trend lines, Fibonacci retracements, and other annotations.
• Interactive Features: Ability to zoom, pan, and customize chart appearances.

7. How can users set up alerts and notifications in ScanX?

Users can set up custom alerts and notifications based on specific criteria, such as:

• Price Movements: Alerts for when a stock reaches a certain price level.
• Technical Signals: Notifications for specific technical indicator signals.
• Fundamental Changes: Alerts for changes in key fundamental metrics.
• Custom Criteria: Users can create alerts based on their own defined screening criteria.

8. What is backtesting, and how does it work in ScanX?

Backtesting in ScanX allows users to test their investment strategies against historical data to see how they would have performed in the past. This involves:

• Selecting Criteria: Choosing the filters and criteria to be tested.
• Applying to Historical Data: Running the criteria against historical stock data.
• Analyzing Results: Reviewing the performance results, including returns, drawdowns, and other key metrics.
• Refining Strategies: Making adjustments to improve the strategy based on backtesting results.

9. Can ScanX be used by beginners?

Yes, ScanX is designed to be accessible to users of all experience levels. Its intuitive interface, comprehensive tutorials, and user-friendly features make it suitable for beginners as well as experienced investors and traders.

10. What kind of support and resources are available for ScanX users?

ScanX offers various support and resources for users, including:

• Customer Support: Dedicated support team available for assistance.
• Tutorials: Step-by-step tutorials and guides to help users get started.
• Help Center: Comprehensive help center with FAQs and troubleshooting guides.
• Community Forums: Online community forums for users to share tips and insights.

11. Is ScanX compatible with mobile devices?

Yes, ScanX is designed to be compatible with both desktop and mobile devices, allowing users to access and use the tool on the go. The mobile interface is optimized for smaller screens, ensuring a seamless user experience.

12. How much does ScanX cost?

The cost of using ScanX can vary depending on the subscription plan chosen by the user. Dhan typically offers different pricing tiers, ranging from basic to premium plans, each with varying levels of access to features and data. Users should check the official Dhan website or contact customer support for detailed pricing information.

Sign up for Dhan trading account for free access to this tool.

13. How secure is the data in ScanX?

Dhan takes data security very seriously. ScanX employs robust security measures, including encryption, secure data storage, and regular security audits to protect user data and ensure privacy.

14. Can ScanX integrate with other trading platforms?

ScanX may offer integration with other trading platforms and brokerage accounts, allowing users to execute trades directly from the screening tool. Users should check for specific integration options and compatibility details on the Dhan website or contact customer support.

15. How frequently is ScanX updated with new features?

Dhan continuously works on improving ScanX, with regular updates and new feature releases based on user feedback and market trends. Users can expect periodic updates that enhance functionality, introduce new tools, and improve overall performance.

Conclusion

ScanX by Dhan represents a significant advancement in stock screening technology. Its combination of real-time data, customizable filters, user-friendly interface, and advanced analytical tools provides a robust platform for investors and traders. Compared to traditional stock screening tools, ScanX offers enhanced capabilities and features that cater to the needs of both novice and experienced market participants. By integrating comprehensive analysis and real-time insights, ScanX helps users make more informed and strategic investment decisions.