The SCREENER function in ProBuilder language is designed to filter and sort financial instruments based on user-defined conditions. This function is particularly useful for traders and analysts who want to identify trading opportunities by applying specific criteria to a dataset of stocks, forex pairs, or other financial instruments.

Syntax:

SCREENER[conditions](sorting criteria)

The conditions parameter allows you to specify one or multiple conditions that the instruments must meet. These conditions can be combined using logical operators like AND and OR. The sorting criteria parameter, which is optional, defines the rule by which the results will be sorted.

Example:

REM Condition 1: Weekly MACD is below zero and rising
TIMEFRAME(weekly)
MyMACD = MACD[12,26,9](Close)
c1 = MyMACD < 0 AND MyMACD > MyMACD[1]

REM Condition 2: Daily Stochastic is below 30
TIMEFRAME(daily)
MySTO = Stochastic[14,3](Close)
c2 = MySTO < 30

REM Set Stop Level
MyStop = High[1]

REM Criteria: Proximity to the high of the previous day
Criteria = (Close / MyStop - 1) * 100

REM Condition 3: Price is less than previous day's high or no more than 5% above it
c3 = Criteria < 5

SCREENER[c1 AND c2 AND c3](Criteria)

In this example, the screener filters instruments based on three conditions: a weekly MACD indicator that is below zero and increasing, a daily Stochastic indicator below 30, and a price that is close to the previous day's high. The results are sorted by the proximity to the high of the previous day, expressed as a percentage.

• MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price.
• Stochastic Oscillator is a momentum indicator comparing a particular closing price of a security to a range of its prices over a certain period of time.

This function is powerful for creating custom screens that help identify trading setups based on technical analysis indicators and other user-defined criteria.