Heckyl’s Built-Up Screener : Is it useful ?

I have been using the Heckyl’s built-up screener for the last few months, almost every trading day. I would like to share with you my observation on using the Heckyl’s built up screener for daytrading.

What is heckyl’s 15min built up screener ?

The heckyl’s built-up screener gives a 15min trading summary of all individual FnO contracts on the NSE. It summarizes a 15min trading activity into Long Built Up, Long Unwinding, Short Built Up, Short Covering and  Neutral.

Analyzing through this 15 min screening blocks a trader can substantiate a trading opportunity to avoid making irrational decisions.
The built-up screener function of the heckyl’s platform is useful for daytrading the FnO Contracts and its underlying shares.

The heckyl’s trading platform is an all in one web app. This article will be very specific only to the built-up screening feature on the heckyl platform.

My observation and experience with the Heckyl’s built-up Screener.

The built-up screener feature on the heckyl platform has been very productive for my daytrading. The built-up screener helped me to:

  1. Make trading decisions based on ‘behind the screen’ facts.
  2. Avoid making irrational trading decisions.
  3. Stay calm and cut off the emotional entrapment involved while daytrading.

Here is one example I want to share with you.

The following data from the built-up screener helped me identify a trading opportunity on the Nifty Index.

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On 27-12-2016 at 13:15 the Heckly’s built up screener reported that 5200 fresh long contracts created between 13:00 and 13:15.

Looking through the historical data for the day, I realize that 5200 contracts is a considerably large quantity.

This data along with the technical indicator’s on my chart, convinces me to take a long position on the  index.

This built-up screening data was available to my heckyl trading platform at 13:15. I take a long position in about 15 seconds . The next 30 minutes the index sees a continuous spike of 20 points.

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This is one example of how the analytics of Heckyl’s built-up screener can be useful for daytrading in India. This helps us to make daytrading decisions at the right time with confidence.

Summarizing the Heckyl’s built-up Screener.

The Heckyl’s built-up screener is productive for analyzing a specific contract you want to trade or watch. This is good , provided you know what you are looking for. If you are an index trader, this is a must have tool for trading. For a daytrader this is good to use alongside your current technical stock screener.

Also be informed that an important feature that is expected from a stock screener is not present on the Heckyl’s platform. It is not possible to scan for contracts as per your specific criteria. The Heckyl’s platform cannot help you locate contracts where long or short positions has been forming continuously, say like 1 hour etc.

The Heckyl’s built-up screener is a free to use platform for the trading clients of certain brokerages.