Published on: April 23, 2025
The P&F (Point & Figure) Level Picker is a powerful and strategic scanner designed for traders looking to identify affordable breakout opportunities in the market. Available through the RZone platform under P&F Smart Scanner > Level Picker, this tool simplifies the process of filtering stocks based on well-defined technical patterns and risk-controlled entry and exit points.
What Is the P&F Level Picker?
At its core, the P&F Level Picker scanner uses the Point & Figure matrix to identify potential breakout stocks. This matrix is a form of charting that emphasizes price movements over time, eliminating market noise and focusing purely on supply and demand dynamics. What sets this scanner apart is its ability to analyse price strength across multiple timeframes, ensuring that only technically strong stocks make it to the final list.
Key Scanning Rules
The scanner is built around a couple of essential rules:
- Pattern Recognition via P&F Matrix:
The first and most crucial rule is to identify stocks based on their P&F patterns. This ensures that each candidate is selected through a rigorous strength analysis that spans multiple timeframes, making the picks not only timely but also technically sound. - Affordable Breakout Trigger:
The second rule narrows the list down to those stocks that have shown breakout activity at affordable levels. This means stocks are picked not just for their breakout potential, but also based on risk-reward parameters that are favorable for most traders.
Real-Time Scanning Across Timeframes
A standout feature of the P&F Level Picker is its ability to operate on both EOD (End of Day) and intraday timeframes. This means traders can monitor real-time developments and act quickly on potential breakouts—whether they’re swing trading or looking for same-day setups.
How to Use the Scanner in RZone
To begin scanning:
- Navigate to P&F Smart Scanner > Level Picker on the RZone platform.
- Select your desired group (e.g., Nifty 50, Midcaps, Sector-specific lists).
- Choose the timeframe (intraday or EOD).
- Run the scanner and analyse the results.
Output Table & Signal Levels Explained
The scanner’s output table presents a detailed view of both bullish and bearish opportunities:
- DTB Bullish Level: This is the price point where a stock is considered to have triggered a bullish breakout. It’s a key indicator for entry into a long position.
- DBS Exit Level: Used as a stop-loss level for bullish trades. If a bullish breakout fails, this is the level at which a trader might consider exiting to minimize losses.
- DBS Bearish Signal: The price level that indicates a bearish breakout. Traders eyeing short positions can use this as a potential entry point.
- DTB Exit Level: This serves as a stop-loss level for bearish trades, offering a safety net if the price moves against the trade.
The P&F Level Picker Scanner is a valuable tool for both beginner and advanced traders seeking high-probability breakout trades. With its multi-timeframe analysis, real-time data, and clearly defined entry and exit points, it provides a structured approach to trading technical breakouts with minimized risk. By blending simplicity with smart analytics, it’s a scanner every technical trader should consider adding to their toolbox.
