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iTradeRight Alpha Scanner: The Official Guide

Welcome to the iTradeRight algorithmic trading engine. This system is designed to strip emotion out of your trading by providing strict, mathematically calculated blueprints based on institutional data.

Phase 1: EOD Preparation (The Blueprint)

🕒 Execution Window: Run this scanner in the evening (after 6:30 PM) or before the market opens the next day. The goal is to filter the noise and generate a highly curated watchlist for the upcoming trading session.

Step 1: Define Your Parameters

Configure the engine to match your strategy and capital availability:

  • Select Date: Always select the date of the latest closed trading session to ensure you are pulling settled EOD data from the NSE.
  • Total Capital: Input the total amount of capital you want to deploy. The engine will automatically divide this to ensure mathematically sound position sizing.
  • Trading Framework: Choose your time horizon. Swing looks for trends resolving in 2-10 days, while Momentum targets broader moves taking 30+ days.
  • Screening Filter: Choose between the complete NIFTY 500 universe or apply the Strict Shariah Compliant filter.

Step 2: Generate & Review Blueprints

Once you click "Run Screener Engine," the system will generate your EOD shortlist.

CRITICAL: Pay strict attention to the Risk Management columns. The scanner automatically calculates your Stop-Loss (SL), Trail Trigger, and Take-Profit (Target) based on your framework. These are not suggestions; they are structural boundaries designed to protect your capital.

Phase 2: Live Market Execution

🚨 Execution Window: Run this strictly at 9:45 AM during live market hours (09:15 AM to 03:30 PM IST). If you try to run the Live Scanner outside of market hours, the engine will block you.

Step 3: Acknowledge the Execution Risk

At exactly 9:45 AM, click the Ping Live Market Data button. A security pop-up will appear requiring you to acknowledge the execution risks. This built-in friction ensures you are mentally prepared to execute mechanically, without hesitation.

Step 4: The Traffic Light System (Master Market Regime)

Before looking at any individual stock, look at the Nifty 50 Traffic Light banner at the top of your results. This is your master safety switch based on live index data:

🟢 GREEN REGIME: The Nifty is up 0.20% or more. The broader market trend is favorable, giving you the green light to execute valid setups.
🟡 YELLOW REGIME: The Nifty is chopping between -0.30% and 0.20%. The market is neutral. Proceed with caution.
🔴 RED REGIME: The Nifty is down more than -0.30%. The broader market is too weak; even if individual stocks look good, the system overrides the trade. Do not execute new long positions.

Step 5: Read the Execution Signals

If the regime is Green or Yellow, evaluate your shortlisted stocks in the table. The engine pulls live pricing to validate the setup against strict algorithmic rules:

  • Gap %: The stock must open relatively flat, maintaining a gap between -1.0% and +1.5%.
  • Vol Surge %: The stock must display a volume surge of 15% or higher compared to its previous day's baseline.

If a stock meets these strict parameters, the Action column will issue a CLEAR SETUP. If it violates the gap or lacks volume, it will be ruthlessly REJECTED.

Phase 3: Post-Trade Discipline

Once you execute a CLEAR SETUP, the automated portion of your workflow is done, and your personal discipline takes over.
  1. Log your exact entry price into your native Trade Journal.
  2. Immediately place a strict GTT (Good Till Triggered) Stop-Loss order in your broker's app based on the exact figure the EOD scanner calculated for you.
  3. Set a price alert on your phone for the Trail Trigger and Take-Profit target.
  4. Close the app and walk away. Let the math play out.