Free Warrior Trading Momentum Scanner for ThinkorSwim

I came across this video on YouTube yesterday and I tested the scanner this morning while day trading.


The creator claims that it produces similar real-time results as Ross Cameron's Warrior Trading Momentum Scanner with the exception that it's totally free!

I tried it this morning and it works great!

There's two additions I would recommend:

  • 5% change minimum
  • 9 EMA greater than 20 EMA

Without these additions you will get 20 - 50+ results everytime you scan, and most of the results will be useless stocks on a downtrend.

The key to this scanner and any momentum scanner is to find the stocks that are making the biggest moves in an uptrend. These are the stocks that a majority of day traders will be trading. That inevitably creates a herd mentality that pushes prices higher.

My approach:
I sort my results by % change, and I scan every minute on the minute and look to take a trade that meets my criteria by the :50 second mark, at which point I input my order on a 1-minute candle.

I hope this helps you as much as it's helped me. Good luck.
 

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How do you Signal the 9 ema to be greater then the 20 ema

@jtrain252 ExpAverage() is a Function...

GuCA7jd.png


Which produces the code:

Ruby:
ExpAverage("data" = CLOSE, "length" = 9) crosses above ExpAverage("data" = CLOSE, "length" = 20)

You could just as easily select "greater than" instead of "crosses above"...
 
Last edited by a moderator:
Thank you @GetRichOrDieTrying for the video and sharing. I am not really a Warrior Ross C. fan, where I've heard from a friend that he broadcast his day trading via Youtube and if you're not one of his premium members you get a delayed (3-5 mins) broadcast meaning he can exit earlier from the trade and if you're following him on same trade you might be left bagging or flushed. Lately, I have been intrigued with momentum trading.

Thank you again for sharing the scanner, I will give it a try tomorrow and add it to my collections of watchlist scanners. :)

@cabe1332
 
FYI this is Ross' criteria for momentum trades-

1 Demand: High relative volume (above avg vol today)
2 Demand: already up 5%(or down) vs yesterdays close
3 Demand: news event moving the stock higher
4 Demand: price range $1-$10
5 Supply: Less than 10M shares avail


How would one set up a scan for #1??
 
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FYI this is Ross' criteria for momentum trades-

1 Demand: High relative volume (above avg vol today)
2 Demand: already up 5%(or down) vs yesterdays close
3 Demand: news event moving the stock higher
4 Demand: price range $1-$10
5 Supply: Less than 10M shares avail


How would one set up a scan for #1??
Add filter for “Study” select “unusual volume” from drop down list then type in whatever % you want. Let’s go with 10%. Volume has increased 10% from avg over 50 periods. Depending on what timeframe you set the scan for dictates what those 50 periods are.

If you mess around with the scan criteria, you’ll be able to find most of these answers yourself. That’s what I’ve done. Same goes for writing scripts. Scripts take much more time, trial and error, and research, but 4 weeks ago, I couldn’t write any scripts at all. This morning, I wrote a MTF Squeeze Histogram Colored Labels script. It’s a learning curve, but mess around with the application and you’ll be surprised what you pickup/learn!
 
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FYI this is Ross' criteria for momentum trades-

1 Demand: High relative volume (above avg vol today)
2 Demand: already up 5%(or down) vs yesterdays close
3 Demand: news event moving the stock higher
4 Demand: price range $1-$10
5 Supply: Less than 10M shares avail


How would one set up a scan for #1??
http://tos.mx/Io3jI3x

This should work for you, if you're still in need. The criteria are as follows:
  1. High relative volume (volume above average volume today).
  2. Demand up 5% or more compared to yesterday's close.
  3. Price is in the range between $1 and $20.
  4. Supply (volume) is less than 20 million shares available.
  5. Gapping up 5% or more.
  6. Volume is at least 200,000.
 
http://tos.mx/Io3jI3x

This should work for you, if you're still in need. The criteria are as follows:
  1. High relative volume (volume above average volume today).
  2. Demand up 5% or more compared to yesterday's close.
  3. Price is in the range between $1 and $20.
  4. Supply (volume) is less than 20 million shares available.
  5. Gapping up 5% or more.
  6. Volume is at least 200,000.
This looks awesome for the underlying, but is there a way to change the script to scan for options? I am looking for an unusual volume / momentum option scanner for large caps. As you can see by this being my first post, I am new here. I will keep looking around for now, thank you any help.
 
This looks awesome for the underlying, but is there a way to change the script to scan for options? I am looking for an unusual volume / momentum option scanner for large caps. As you can see by this being my first post, I am new here. I will keep looking around for now, thank you any help.

The ToS platform does not provide a custom script Scanner for Options
read more:
https://usethinkscript.com/threads/options-scan-hacker-in-thinkorswim.5114/page-4#post-82892
 
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