Relative Volume Strategy and Momentum Scanner for ThinkorSwim

[axlerod]

I dont use the rv1 for premarket. I have a scanner that identifies gap up or high momentum stocks before the bell. It works better than anything TOS has to offer but there is sometimes too much to sort through and the moves are fast and furious in pre market. I agree with waiting after the bell to get in. Too much going on at that time.

Also the biggest factor in determining a mover is news associated with it. twitter is a good source. Every stock can pop but the ones that go ballistic are the ones that have a catalyst.

Try this may help as this gives a nice view of everything my pre-market scan

CURRENT PIC is today at 10pm so showing all the stocks it would of picked up but at 8am -9:30 am there are only 3-10 options on it.

From there I add different custom studies I have done or variables to narrow it down from volume change to average volume or golden cross recently etc.

here is what it looks like

Scan Link - http://tos.mx/wH4xQQH
Column Links

• Previous Day Close - http://tos.mx/FmJ7h5a
• Pre Makret % Change - http://tos.mx/jOD8vHl
• After Hours % Change - http://tos.mx/QZzK6wU

Too much code to paste each snippet sorry but can do if people will like. Figure link be easier.

 

[Ginu09]

Try this may help as this gives a nice view of everything my pre-market scan

CURRENT PIC is today at 10pm so showing all the stocks it would of picked up but at 8am -9:30 am there are only 3-10 options on it.

From there I add different custom studies I have done or variables to narrow it down from volume change to average volume or golden cross recently etc.

here is what it looks like

Scan Link - http://tos.mx/wH4xQQH
Column Links

• Previous Day Close - http://tos.mx/FmJ7h5a
• Pre Makret % Change - http://tos.mx/jOD8vHl
• After Hours % Change - http://tos.mx/QZzK6wU

Too much code to paste each snippet sorry but can do if people will like. Figure link be easier.

I've made two additional changes to the scan for my own needs:

1. I have added a net % change condition of 10% which includes gap up and morning spikes to filter out the stocks that never end up going anywhere. (This is different than the 4% condition because that is for the current day while the net % change considers yesterday's close so gap ups that have an early morning dip would still show up here but be missed using the other criteria). I usually only end up with up to 5 tickers on the list. It's much more manageable and I generally catch them all. I have a separate % gainers list to catch anything I may have missed.
2. I've added a watchlist column to identify if the stock has crossed the pre-market high. Sometimes it's difficult to catch it beforehand, this helps to filter out also for later morning spikes.

 

[Gabrielx77]

Top 5 Pre-Market Stocks that I was tracking this morning were: IEA, APRO, HEPA, OAS and VAL.

IEA popped up on the scanner around 9:32 am, watched it for a break over VWAP; got in at $4.77 when VWAP was at $4.72, got out at $5.16 when I hit my 7-10%. I also missed OAS break and pullback to VWAP, could've made another 7-10%; I need to get more monitors.

Anyone else had some results like this? What stocks did you guys watch out the open this morning using the scanner?

 

[Ginu09]

Top 5 Pre-Market Stocks that I was tracking this morning were: IEA, APRO, HEPA, OAS and VAL.

IEA popped up on the scanner around 9:32 am, watched it for a break over VWAP; got in at $4.77 when VWAP was at $4.72, got out at $5.16 when I hit my 7-10%. I also missed OAS break and pullback to VWAP, could've made another 7-10%; I need to get more monitors.

Anyone else had some results like this? What stocks did you guys watch out the open this morning using the scanner?

Still watching MARA but for the most part nothing is going on today for me. IEA didn't meet my criteria to enter

 

[poststreet]

please keep up your ideas with the high rv1 s, soon i will figure it out and join you

 

[Gabrielx77]

Still watching MARA but for the most part nothing is going on today for me. IEA didn't meet my criteria to enter

Sounds good. I was considering MARA premarket, but I didn't like how it didn't have a catalyst for this morning. IEA had a good run up in a short period of time, so when I saw it consolidate a little, I knew a break over VWAP would be a good place to scalp.

OAS was probably the better choice since it had more volatility pre-market. Didn't focus on it that much because IEA had more room to run to its pre-market high. Sold half at $5.26 and the other half at $5.06 when I saw it selling off more and more.

 

[Ginu09]

Sounds good. I was considering MARA premarket, but I didn't like how it didn't have a catalyst for this morning. IEA had a good run up in a short period of time, so when I saw it consolidate a little, I knew a break over VWAP would be a good place to scalp.

OAS was probably the better choice since it had more volatility pre-market. Didn't focus on it that much because IEA had more room to run to its pre-market high. Sold half at $5.26 and the other half at $5.06 when I saw it selling off more and more.

Nice, I’ve moved away from scalping so trade less with bigger reward. So my criteria is really strict

 

[BonBon]

Top 5 Pre-Market Stocks that I was tracking this morning were: IEA, APRO, HEPA, OAS and VAL.

IEA popped up on the scanner around 9:32 am, watched it for a break over VWAP; got in at $4.77 when VWAP was at $4.72, got out at $5.16 when I hit my 7-10%. I also missed OAS break and pullback to VWAP, could've made another 7-10%; I need to get more monitors.

Anyone else had some results like this? What stocks did you guys watch out the open this morning using the scanner?

Hey everyone. I used my premarket scanner just to get a feel for the pm movers. Then at 9:30 I ran my RVI scanner (using the thinkscript "buysignal" instead of the thinkscript strongbuyl). IPDN, PEIX, IZEA and ARC were the top ones based on my scan. I usually scan .05-$3.00

The buy signal for IPDN came at $1.20 and it went to a high of $2.20 before retracing.
The buy signal for PEIX came at $1.93 and it went to a high of $2.48. It has not retraced or made a significant dip as yet.
The buy signal for ARC came at $1.09 and it went to a high of $1.39.
The buy signal for IZEA came at $1.36 and it went to a high of $1.72.

 

[poststreet]

thanks for the ongoing commentary bonbon!

 

[Gabrielx77]

Hey everyone. I used my premarket scanner just to get a feel for the pm movers. Then at 9:30 I ran my RVI scanner (using the thinkscript "buysignal" instead of the thinkscript strongbuyl). IPDN, PEIX, IZEA and ARC were the top ones based on my scan. I usually scan .05-$3.00

The buy signal for IPDN came at $1.20 and it went to a high of $2.20 before retracing.
The buy signal for PEIX came at $1.93 and it went to a high of $2.48. It has not retraced or made a significant dip as yet.
The buy signal for ARC came at $1.09 and it went to a high of $1.39.
The buy signal for IZEA came at $1.36 and it went to a high of $1.72.

Looks good thanks; do you buy and sell based on that signal? Or you use other indicators as well?

 

[pga0008]

when i try to add the scanners to my ToS, it says it saves but then doesnt show up? are they still active?

 

[BenTen]

@pga0008 If you saved someone's else scanner, follow this instructions to load it:

 

[pga0008]

yeah i have others there does it only allow the top 10?

 

[BonBon]

Looks good thanks; do you buy and sell based on that signal? Or you use other indicators as well?

@Gabrielx77

The scanner gives the buysignal and I then conduct my analysis based on if they gapped up in the PM or if they are momentum tickers without gapping up. I also look at VWAP, 9EMA, candlestick/candlestick patters, support and resistance etc.

I try to make my analysis as simple as possible. I also look at catalysts as well. However, some tickers have high RVI without a catalysts. Some might be sympathy plays etc.

 

[axlerod]

Nice, I’ve moved away from scalping so trade less with bigger reward. So my criteria is really strict

What are those criteria ?

Hey everyone. I used my premarket scanner just to get a feel for the pm movers. Then at 9:30 I ran my RVI scanner (using the thinkscript "buysignal" instead of the thinkscript strongbuyl). IPDN, PEIX, IZEA and ARC were the top ones based on my scan. I usually scan .05-$3.00

The buy signal for IPDN came at $1.20 and it went to a high of $2.20 before retracing.
The buy signal for PEIX came at $1.93 and it went to a high of $2.48. It has not retraced or made a significant dip as yet.
The buy signal for ARC came at $1.09 and it went to a high of $1.39.
The buy signal for IZEA came at $1.36 and it went to a high of $1.72.

Was this added on to the PM scanner or seperate your RV1 scan ? or you reversing to this scan??

 

[Ginu09]

What are those criteria ?

It’s taken years of analysis but in a nutshell, I only buy near the lows: on a dip in the morning, on a VWAP pullback or a pullback to premarket highs following a PM high breakout

 

[CDJay]

Here's my method:
1. Take the top RV1 stocks.
2. Take the pre-market high and lows. I only consider stocks within the top 50% of this range at market open. Sometimes I may look to the top 61.8% range. The reason for this is you want stocks that have the highest change of breaking above the pre-market high. Those are the runners. If a stock has too far to go to reach the pre-market high, it likely won't break that level.
3. Generally, VWAP is hanging out in the area just above the consolidation zone. Prioritize these.
4. Look for volume + price divergence.

You'll find there's only one, maybe two, that meet this criteria each morning.

What do you mean when you say "stocks within the top 50% of this range at market open?" Are you saying that if a stock had gone between 2.30 to 2.80, you want it to be above 2.55 at open? Or even 2.60 for being above 61.8%?

And any that fit that criteria are among your considerations?

 

[mas00]

Hello everyone, while I am not new to trading I recently found this forum and want to try a new trading strategy than trying to chase big runners in PM and AH. I have 1 question about the "plot scan = close >= (open*1.04);" scanner. I'm also using TrendPainter buy/sell with RV1, etc.

However the scan does not populate until around 9.45ish (CST) which would be 10:30 EST, which I find by then the stocks I'm getting are almost always already up past there high of the day and then back down. For example today INFU populated in the scanner around $3.90 over vwap but it hit a high of $14 pop at open from $12.70. Or a great example of this is CARV which was called in a discord room I'm in, but it didn't populate in my scanner until waaaay waaay after the high today from open which was $8.5 from open at $6.25. By the time it populated in my watchlist CARV was already back down to low $7's under vwap.

Yesterday (not saying it's fault) but I took a small loss on CWBR because I followed the criteria and it went up about 3% and then knifed.
I mean even right now as I type this PNBK just came into the watchlist $8.31 trading under vwap from a hod at $9.5 with RV1 of 28.8 but it had a low at $6.51. Ideally you would think it would populate around $7 not back down from a hod? I feel like my scanner is set up backwards on bear mode ha.

I understand not trying to hit the moon lambo with these.
So my question is how can I adjust to make me get to populate sooner or what am I doing wrong in these scanner settings?
Volume min is 100,000. %change is 10%, shares max is 70,000 and unsualy volume is 40% from 60. thank you.

Also axlerod I have my own PM scanner settings in TOS but I wanted to test yours against mine, and yours didn't even populate anything?

 

[jezzer46]

@jezzer46 If you are waiting on you watchlist to populate then its a TOS thing not the scanner settings. At 930 to 935 just go into the scan tab and basically manually press the scan button. unfortunately I myself have found to miss alot by waiting for the watchlist.

 

[jezzer46]

OPGN was a beast today. I pulled back on trading to work on my entries and exits as I was getting caught in a lot of dumps. Also for those using higher tf than 1 minute (5/10/15 min) midday to ending session is better than morning imo.