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Building Your Own Stock Screener with Pine Script (Way Better Than TradingView's Default One)

· 7 min read
Pineify Team
Pineify Team

You know that feeling when you're scrolling through hundreds of charts looking for a decent trade setup? Yeah, I've been there too. TradingView's built-in screener is okay, but it's pretty basic and never seems to find exactly what I'm looking for. That's when I discovered you can actually build your own screener using Pine Script - and honestly, it's a game changer.

After spending months manually hunting for setups and missing good opportunities, I finally figured out how to create custom screeners that do the heavy lifting for me. Today, I'll show you exactly how to build your own market scanner that finds the specific setups you're looking for, not just generic patterns.

What's a Custom Screener and Why Should You Care?​

Think of a custom screener like having your own personal trading assistant that never sleeps. Instead of manually checking chart after chart (which, let's be honest, is exhausting), you write a Pine Script that automatically scans through stocks, crypto, forex, or whatever you trade, looking for your specific setup criteria.

The real power here is specificity. Unlike TradingView's default screener that only lets you filter by basic metrics like price, volume, and market cap, your custom Pine Script screener can identify complex technical patterns, multi-indicator confluences, and even custom conditions you've developed through your own trading experience.

For example, maybe you've noticed that your best trades happen when:

  • RSI drops below 30 (oversold)
  • Price is still above the 200-day moving average (bullish trend)
  • Volume is at least 1.5x the 20-day average (increased interest)
  • The stock just broke above a 5-day resistance level

Try finding that combination in TradingView's basic screener. Good luck with that.

The Best Pine Script Generator

Why I Finally Ditched Manual Chart Scanning​

Here's the brutal truth - I was spending 2-3 hours every morning just looking for setups. That's time I could've been analyzing trades, backtesting strategies, or actually trading. With a custom Pine Script screener, I can:

Save Time and Mental Energy Instead of clicking through dozens of charts, my screener does the work while I focus on execution and risk management.

Never Miss Opportunities Again The screener runs continuously, catching setups even when I'm away from my computer. No more "I wish I had seen that setup earlier" moments.

Get Precise Results I can combine multiple indicators, price action patterns, and volume analysis in ways that would be impossible with standard screening tools.

Customize for My Trading Style Whether I'm looking for breakout patterns or RSI divergence setups, I can build screeners that match my exact criteria.

Building Your First Custom Screener: Step-by-Step​

Let me walk you through creating a practical screener that identifies oversold bounce opportunities. This is one of my favorite setups because it's simple but effective.

Step 1: Define Your Screening Logic​

First, we need a function that evaluates our conditions:

//@version=5
indicator("Custom Oversold Screener", overlay=true)

// Define our screening function
screenerFunc() =>
    // Calculate indicators
    rsiValue = ta.rsi(close, 14)
    sma200 = ta.sma(close, 200)
    avgVolume = ta.sma(volume, 20)
    
    // Define conditions
    oversold = rsiValue < 30
    aboveTrend = close > sma200
    highVolume = volume > avgVolume * 1.2
    
    // Combine conditions
    signal = oversold and aboveTrend and highVolume
    
    [rsiValue, signal]

This function checks for:

  • RSI below 30 (oversold condition)
  • Price above 200-day SMA (maintaining bullish trend)
  • Volume 20% above average (confirming interest)

Step 2: Apply to Multiple Symbols​

Here's where Pine Script gets really powerful. We can scan multiple symbols simultaneously:

// Define symbols to scan
symbols = array.from("AAPL", "MSFT", "GOOGL", "TSLA", "NVDA")

// Create table to display results
var table resultsTable = table.new(position.top_right, 3, 6, bgcolor=color.white, border_width=1)

// Scan each symbol
for i = 0 to array.size(symbols) - 1
    symbol = array.get(symbols, i)
    [rsi, signal] = request.security(symbol, timeframe.period, screenerFunc())
    
    // Display results
    table.cell(resultsTable, 0, i+1, symbol, text_color=color.black)
    table.cell(resultsTable, 1, i+1, str.tostring(rsi, "#.##"), text_color=color.black)
    table.cell(resultsTable, 2, i+1, signal ? "✓" : "✗", 
               text_color=signal ? color.green : color.red)

Step 3: Add Alert System​

The real magic happens when you set up alerts so you don't have to watch the screen constantly:

// Alert when any symbol meets criteria
alertcondition(signal, title="Oversold Opportunity", 
               message="{{ticker}} shows oversold bounce setup!")

For more advanced alert setups, check out this comprehensive guide on Pine Script alertcondition.

Advanced Screener Ideas That Actually Work​

Once you master the basics, you can create screeners for virtually any setup:

Momentum Breakout Screener Look for stocks breaking above 20-day highs with increasing volume and MACD turning bullish.

Mean Reversion Screener Identify oversold conditions in strong uptrends using Bollinger Bands and RSI.

Volume Spike Screener Find stocks with unusual volume accompanied by price movement, perfect for news-driven trades.

Multi-Timeframe Trend Screener Combine daily and weekly trend analysis to find stocks aligned across multiple timeframes.

The Limitations You Need to Know About​

Let's be real about what you're working with:

40 Symbol Limit Pine Script restricts you to scanning 40 symbols maximum per script. For most retail traders, this is plenty, but institutional traders might find it limiting.

Bar Close Updates Your screener only updates when a bar closes, so you won't catch intraday breakouts immediately. For day trading, this might be problematic.

Execution Complexity While Pine Script can't execute trades directly, you can set up webhooks and third-party integrations for automated execution.

Resource Usage Complex screeners with multiple symbols and indicators can slow down your charts or cause timeouts.

Pro Tips From Someone Who's Been There​

After building dozens of screeners, here's what I wish someone had told me:

Start Simple, Then Iterate My first screener had 12 different conditions and never found anything. Start with 2-3 core criteria, test it thoroughly, then add complexity gradually.

Backtest Your Logic Before relying on a screener for live trading, use TradingView's backtesting features to validate your screening criteria historically.

Optimize for Your Timeframe A screener that works great on daily charts might be useless on 4-hour charts. Test across different timeframes to understand where your logic performs best.

Set Up Multiple Screeners Instead of one complex screener, create several focused ones for different market conditions (trending vs. ranging, bull vs. bear market).

Use Proper Risk Management Even the best screener won't eliminate bad trades. Always combine screening with proper stop loss strategies and position sizing.

Making Your Screener Actually Useful​

The difference between a toy screener and a professional tool comes down to execution:

Organize Your Watchlists Create different symbol arrays for different market sectors or asset classes. This helps you focus on the most relevant opportunities.

Add Context Information Don't just show signals - include RSI values, volume ratios, and other context that helps you prioritize opportunities.

Implement Filtering Add minimum price, volume, and market cap filters to avoid penny stocks and illiquid securities.

Create Alert Hierarchies Set up different alert levels (strong signal vs. weak signal) so you can prioritize your attention effectively.

The Bottom Line​

Building custom screeners with Pine Script isn't just about automating your search process - it's about finding opportunities you would never discover manually. The ability to combine multiple technical indicators, price action patterns, and volume analysis gives you a significant edge over traders relying on basic screening tools.

The learning curve might seem steep initially, but the time investment pays dividends. Once you have a reliable screener running, you'll wonder how you ever traded without it. Start with simple criteria, test thoroughly, and gradually build more sophisticated screening logic as you gain experience.

Remember, the best screener is the one that consistently finds opportunities that match your trading style and risk tolerance. Focus on quality over quantity, and always validate your screening logic through proper backtesting before committing real capital.

Your future self will thank you for taking the time to build these tools properly. Trust me on this one.