How good is TWS scanner?

Hi,

I am looking to open an account with IB for trading stocks but I don't know how good is their scanner.
Anyone here using TWS for scanning stocks according to technical indicators?
Is it possible to scan for example price closing between some EMAS?
Or is it possible to create a custom indicator returnin TRUE or FALSE and add it as a filter on the scanner?

Thanks for your help

 

Yes their scanner includes fixed EMA queries but I'm not sure if these are available through the API (I imagine they must be)

 

Thanks nooby!
I have signed for a trial on their Tws but I found the scanner is too limited by itself.
Yes, they have some fixed EMAS, but I need more robust conditions to be scanned in order to find my tradeable stocks
How difficult do you think it is to work with the API in order to develop a custom indicator qith all my conditions and then use it to run a scan? Cause is not that I can use any "regular" inducator freely either

 

If you mean EMA to be Exponential Moving Average then I have to disappoint you: these are not available through the API. You would have to download the historical prices and then calculate the desired EMA yourself. The same applies to any other technical indicator: you have to calculate yourself.

 

I wonder why that is. The mosaic scanner seems to include them...

 

TWS indeed does provide all kinds of technical analysis tools. My understanding is that these are all calculated on the client's side (i.e. client's computer). Not on the server side and sent over to the client.

 

FWIW, this might be a recent thing and I haven't tested it thoroughly, but it looks like they have EMA-based scans that can be used. For example, below looks like the scanner for BULLISH_LAST_VS_EMA20 does return something as opposed to barfing which implies that it might actually work.

 

Look for some IB's tutorials. Here is one from Youtube.
Hope this helps.

 

It seems too much trouble just to configure and run a "simple"thecnical scan for stocks
I will have to change my mind about going with IB as scanning for stocks that match my criteria is fundamental for me.
Well, I could buy Amibroker I guess if IB is definitely a must have broker (because of margin rates basically cause all the other also have 0 comissions)
Or I should go and open the account with TD to have TOS as I guess in TOS scanner you can build your own indicator and filter the scan based on that.

 

Where do you get this?
Is this code from the API?