I would like to share something interesting I found when trying to find high momentum stocks. Please see the other thread I posted under Indicators labeled "Color coded watchlist columns." The RV1 value is very important in finding the strong stock of the day. When I ran my gap scanner around 9:32am, I found that the stock with the highest RV1 value tends to be very strong. For example, CBLI on 6/26, PDSB on 6/29, POLA on 6/30 and MYOS on 7/1. Each stock was a big winner on that day. So make sure to keep track of the gappers with the highest RV1 for big gains.
Also, I want to share a momentum scan that helps identify stocks early that are ready to run. Just create a scan with the following conditions:
Scanner's conditions:
Last: 0.5 to 15
% Change: 10% to No Max
Volume: 500,000 to No Max
Shares: 1 to 70,000,000
Custom Study Filter with Aggregation set to D (day) using this code:
Study Filter - (under Volume) Unusual Volume, Current bar's Volume increased at least 40% from its typical average over 60 periods and Aggregation set to D (day)
On 6/30, it showed OXBR and APEX; and on 7/1, it showed SUNW, LKCO, and MMLP before the big runs. This scan helps investors shift their focus from the early gappers that sometimes fail to low price, low float stocks that make their moves later in the day. This scan works best on stocks that show up before 11:30am and RV1 values show up only after 9:30am.
RVOL Indicator and Watchlist Column: https://usethinkscript.com/threads/rvol-relative-volume-indicator-watchlist-for-thinkorswim.1014/
Also, I want to share a momentum scan that helps identify stocks early that are ready to run. Just create a scan with the following conditions:
Scanner's conditions:
Last: 0.5 to 15
% Change: 10% to No Max
Volume: 500,000 to No Max
Shares: 1 to 70,000,000
Custom Study Filter with Aggregation set to D (day) using this code:
plot scan = close >= (open*1.04);
Study Filter - (under Volume) Unusual Volume, Current bar's Volume increased at least 40% from its typical average over 60 periods and Aggregation set to D (day)
On 6/30, it showed OXBR and APEX; and on 7/1, it showed SUNW, LKCO, and MMLP before the big runs. This scan helps investors shift their focus from the early gappers that sometimes fail to low price, low float stocks that make their moves later in the day. This scan works best on stocks that show up before 11:30am and RV1 values show up only after 9:30am.
RVOL Indicator and Watchlist Column: https://usethinkscript.com/threads/rvol-relative-volume-indicator-watchlist-for-thinkorswim.1014/
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