Help & Documentation
Learn how to use Wyckoff Scanner effectively. Master Point & Figure charts and Wyckoff methodology.
Getting Started
Welcome to Wyckoff Scanner! This platform provides advanced Point & Figure (PnF) chart analysis combined with Wyckoff methodology to help you identify high-probability trading setups.
What is Point & Figure?
Point & Figure is a charting technique that filters out market noise by focusing solely on price movements. Unlike traditional candlestick charts, PnF charts don't consider time - only price changes.
Quick Tip
PnF charts are excellent for identifying support and resistance levels, trend lines, and chart patterns without the distraction of time-based volatility.
Key Features
- PnF Studio: Interactive PnF charting with multiple modes (Classic, Tape Reading, Historical, Minimal)
- Stock Screener: Screen S&P 500 stocks by Wyckoff patterns and technical indicators
- AI Screener: Specialized screening for AI industry stocks
- Crypto Scanner: Comprehensive cryptocurrency analysis with RS rankings and volume scanning
- Pattern Recognition: Automatic detection of Wyckoff events (Springs, Upthrusts, LPS, etc.)
PnF Basics
Point & Figure charts use X's and O's to represent price movements. X's represent rising prices, while O's represent falling prices.
How PnF Charts Work
- Box Size: The minimum price movement required to add a new X or O
- Reversal Amount: The number of boxes price must move in the opposite direction to start a new column
- Columns: Vertical columns of X's (uptrend) or O's (downtrend)
- Breakouts: When price breaks above resistance (bullish) or below support (bearish)
Note
Traditional PnF uses a 3-box reversal, meaning price must move 3 boxes in the opposite direction to shift from X's to O's (or vice versa).
Common PnF Patterns
Double Top Breakout
Price breaks above a previous resistance level, signaling potential continuation of uptrend.
Double Bottom Breakdown
Price breaks below a previous support level, signaling potential continuation of downtrend.
Triple Top Breakout
Stronger signal than double top. Price breaks above three resistance levels.
Triple Bottom Breakdown
Stronger signal than double bottom. Price breaks below three support levels.
Wyckoff Patterns
The Wyckoff Method analyzes supply and demand through price action and volume. Key events help identify accumulation and distribution phases.
Accumulation Phase Events
Spring
Price briefly breaks below support on low volume, then quickly recovers. Indicates selling exhaustion.
LPS (Last Point of Support)
Final pullback before markup phase. Higher low than the spring, showing decreasing supply.
SOS (Sign of Strength)
Strong price advance on increased volume, breaking above resistance on wide spread.
Distribution Phase Events
Upthrust
Price briefly breaks above resistance on low volume, then quickly falls back. Indicates buying exhaustion.
LPSY (Last Point of Supply)
Final rally before markdown phase. Lower high than the upthrust, showing decreasing demand.
SOW (Sign of Weakness)
Strong price decline on increased volume, breaking below support on wide spread.
Pattern Alerts
The scanner automatically detects these patterns and highlights them with color-coded badges:
- 🌱 Spring - Potential bullish reversal
- 🎯 LPS - Last point of support
- 💔 Failed Spring - Spring that failed to hold
- 🚫 Upthrust - Potential bearish reversal
- 🔻 Deterioration - Bearish momentum
- 🚀 New High - 20-day high breakout
- 📉 Diminishing Supply - Supply drying up
- ☁️ Cloud Hit - 21 DMA cloud interaction
Using the Screener
The screener displays stocks organized by industry groups or categories, with mini PnF charts and key metrics.
Interface Overview
- Industry Groups: Stocks are grouped by sector/industry with RS rankings
- Mini Charts: Each stock shows a mini PnF chart for quick visual analysis
- Pattern Badges: Color-coded indicators for detected Wyckoff events
- Metrics: RS Score, ROC (Rate of Change), ADR (Average Daily Range), RelVol (Relative Volume)
Sorting & Filtering
- Order By: Sort stocks by RS Score, ROC, ADR, or Relative Volume
- Color By: Change cell color coding based on different metrics
- Scan: Filter to show only stocks with specific patterns
- Search: Find specific industries or tickers
Pro Tip
Click on any stock cell to open a full-size PnF chart. Use arrow keys to navigate between charts when the modal is open.
Chart Toggle
Switch between Price charts and PnF charts using the toggle switch. PnF charts provide cleaner signals by filtering out time-based noise.
Keyboard Shortcuts
Speed up your workflow with these keyboard shortcuts:
Chart Navigation
Screener Controls
Frequently Asked Questions
How often is the data updated?
Stock data updates every few minutes during market hours. Crypto data updates more frequently (typically every 1-5 minutes depending on the exchange).
What does RS Score mean?
Relative Strength (RS) Score measures a stock's performance compared to a benchmark (typically the S&P 500). Higher scores indicate stronger relative performance.
How are patterns detected?
Patterns are detected algorithmically based on Wyckoff methodology principles, analyzing price action, volume, and support/resistance levels on PnF charts.
Disclaimer
This tool is for educational and research purposes only. Not financial advice. Always do your own research and consider consulting a financial advisor before making investment decisions.