Organizing imported symbols into groups

You can think of groups in CandleScanner as of folders (directories) in your operating system where you store your files (called symbols in CandleScanner terminology). For example, you decide to create a NASDAQ group, into which you import all the components (symbols) for this particular stock index.
There are a few restrictions and rules which apply to both groups and symbols:

  • Groups cannot be embedded within other groups
  • Every group must be either of type intraday or EOD (end-of-day)
  • Group names have to be unique
  • Symbols always belong to a particular group
  • Symbol names (tickers) must be unique within a given group (the same symbol name can exist, however, in other groups)
  • Group always is assigned to one specific Scanner Settings

You can move symbols between groups similarly as you can move files between folders in your operating system. Symbols can be moved to other groups if they are the same type as the current group. You also can remove (delete) symbols from the group. Groups can also be renamed.

When you create a group and import symbols, CandleScanner assigns to the group a type reflecting the time interval. There two types: intraday for all data quotes smaller than a day, and EOD (end-of-day) for daily quotes. Groups of type EOD cannot store symbols of type intraday.

Every group has always assigned a specific Scanner Settings, which defines the detailed conditions for searching algorithms recognizing the patterns.

Intraday symbols can be stored in the same group even if they have a different base time interval (i.e. the time in which prices are quoted for the given symbol in the file).

For example, you can put to the same intraday group 15-minutes EUR/USD and 1-minute EUR/CHF. However, it is recommended to avoid this practice and create separate groups for every base time interval.

Organizing symbols this way introduces clarity, especially when it comes to the calculation of statistics for the whole group.

Please also note that Scanner Settings have a great impact on patterns efficiency statistics. For example settings for 1-minute bars will be most probably irrelevant for 180-minute bars.

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