OmniScan is a service which works with our Omnidata data service to provide pre-made filters for lists of symbols to be added to your focus list. This service is a great tool for screening out symbols that do not meet certain criteria you are looking for such as price, volume or its relation to a system or indicator.
Your first indication of OmniScan exists at the top of the focus list just below your toolbars. Here we can see that the OmniScan List named “My Symbols” is selected.
Clicking on this space will show you the drop down menu where you can choose any of the other lists that have been selected in this profile.
Clicking on any of the lists will populate the focus list with symbols from just that list. Each one of the lists is completely separate from the other lists.
To access the full list of OmniScans you will click on the pencil icon located on your focus list toolbar.
In this window you will see all of the OmniScan Lists that are available. The OmniScan lists are separated into different sections based on their composition.
The First section, “My symbols” reflects you’re My Symbols List in the focus list where you can add individual symbols into a static list yourself without going thru any of the scans. This is the only place that you can manually add or remove symbols the focus list.
The next section, Custom Lists, show you the custom OmniScan Lists you have created. You can create a new Custom list by clicking on the New List button on the bottom.
You can also delete any of your own Custom lists by using the Delete button at the bottom. You cannot delete any of the lists that come standard with the program.
The third section, Nirvana’s Lists are OmniScan Lists that we created for you. They include scans such as Big Bears, Big Bulls, Gaps up, Gaps down and others. Nirvana’s Lists are not editable.
The last sections, Standard Lists, Exchanges, Indexes and Industry Groups are made up of the component stocks of each group listed. The Nasdaq 100 list contains the 100 symbols which make up the Nasdaq 100, the Basic Materials group contains all of the symbols which are contained in that group and so on.
You can see the Starting Population of symbols for these and other scans by clicking on one and then looking at the top right box which says Starting Population.
The Starting Population window shows the base list of symbols that the OmniScan will start off with. When you create a new OmniScan under the Custom lists tab the Starting Population window will be blank. Click on the Add button and you will get a window where you can choose your starting population from the available lists.
You can select a section by using the drop down menu at the top and then highlight the particular list you want and click OK. More than one list can be added by clicking on the Add button again and then choosing a different list. Each list will be shown in the Starting Population window after it has been selected.
The Criteria Rules window is shown below the Starting Population window.This is where you can see what criteria is being used to filter the symbols in the Nirvana Lists and you can add your own criteria when you are creating your own custom lists.
To enter criteria rules for your own custom lists you will use one of the three buttons at the bottom:
The Library button will open the Criteria Library where you can select any of the pre-built criteria rules we have set or even create your own rules and save them to the Library for easy use whenever you want them.
The Library contains both Technical Rules and Fundamental Rules which can be applied to an OmniScan list.
The Fundamental Criteria Editor appears when creating new fundamental rules for a list. You can select the Fundamental rule you want from the drop down menu and then, depending on the rule, use the scale on the right hand side to determine the range or manually input the numbers you want in the Below/Above section
The Instant Rule Update option will automatically update the count in the list with the changes as you make them without having to click okay. Use Percentages will change the Below/Above to use a percent and the Description field allows you to make notes for yourself about the rule you are creating.
The Technical Rules in OmniScan are written and applied using the Formula Builder Interface. Clicking on Technical will bring this window up automatically.
The Formula Builder allows you to specify conditions for Indicators, Systems and variables such as Open, High, Low and Close. You can select any one of the Building blocks on the right hand side and then click the Insert button to add it to the main window. The technical rules require an operation of some kind to be applied correctly. A simple example would be:
C > 10
This is saying that the Close price of the day for the symbol must be greater than $10. Symbols that closed below $10 will automatically be filtered out of the OmniScan list until they close above $10. You can add as many technical rules as you want but you will need to add each one as its own separate rule. So if you wanted to filter out stocks that were below $10 and Above $100 you would have separate Formula Builder rules for them:
C > 10
in one Formula Builder window and :
C < 100
in another.
You can learn more about OmniScan and the different components in OmniTrader Xpress in Chapter X of the OmniTrader Xpress User Guide.
Best of luck with your trading!Nirvana Systems, Inc.
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