PH S B Screener
Info
The PH S B Screener is a Script for MetaTrader 5 that description:advanced screener that identifies assets with significant price drawdown. Scans all available symbols or filtered categories to find instruments trading below their recent peaks.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use PH S B Screener
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
Description:Advanced screener that identifies assets with significant price drawdown.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Multi Sell Orders - another powerful script for MetaTrader 5 traders.
Description:
Advanced screener that identifies assets with significant price drawdown. Scans all available symbols or filtered categories to find instruments trading below their recent peaks. Perfect for identifying potential buying opportunities in undervalued assets.
Also recommended: Day(hight-low) - similar script with strong performance on MetaTrader 5.
Key Features:✅ Accurate drawdown calculation using closing prices
Customisable lookback period (default 90 days)
Adjustable drawdown threshold
Asset category filters (Stocks, Forex, Indices, Crypto)
Batch data loading for better performance
Real-time progress monitoring
✅ Clean Market Watch after execution
Perfect For:
Value investors seeking discounted assets
Swing traders looking for oversold instruments
Portfolio managers monitoring position drawdowns
Technical analysts screening for reversal opportunities
Fixed drawdown calculation algorithm
Accurate peak-to-current price comparison
Improved result display with relevant price data
Enhanced filtering and performance
You may also like: Script with example functions for creating graphical objects - excellent alternative for script users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.
