Relative Volume Strategy and Momentum Scanner for ThinkorSwim

[RickAns]

Learnbot, if you setup message alerts on your watch list then there will be a time stamp in the Message Center as new stocks are added to the list. I think it can also be set to send emails, text messages at the time as well. There may be a network delay between the phone.

Left click on the watch list name area as you would when changing lists / creating new / etc. I think this only applies to scan list and not just a watch list. You should see the option more than half way down to create alerts - alert when scan results change. It alerted me of MXC at 9:31 am EST.

From my limited use of this watch list it seems these stocks can rip to the upside and then drop like a rock afterwards. Not sure a buy and hold strategy is wise if your 9 to 5 does not let you monitor things from time to time. Trailing stop would be a must I would think. Not trying to tell you how to trade, just offering caution. A look at today's chart shows that.

Happy Trading.

 

[Learnbot]

@RickAns thank you so much for this info, exactly what I was looking for. And I do appreciate the helpful tip you shared, I am learning so your suggestion will help me trade better. thank you bro.

 

[jezzer46]

RNET man... I had that lined up all morning only to get in at the wrong time.

 

[poststreet]

did RNET line up as rvol 1 , and what time did that occur?

 

[Learnbot]

Which codes are u guys using for your scanner from this post? The one posted on page 1 by the author or some updates provided afterwards?

 

[jezzer46]

did RNET line up as rvol 1 , and what time did that occur?

it was on there early not sure what time but definitely in time to catch the run up before 12pm. Today was a lackluster day for the most part so all I was following was RNET and MIST. They both had news catalyst. I believe RNET started the day around under 10 RV1 and then steadily gained from there.

 

[jezzer46]

Which codes are u guys using for your scanner from this post? The one posted on page 1 by the author or some updates provided afterwards?

https://usethinkscript.com/threads/color-coded-watchlist-columns-for-thinkorswim.2977/
thats for the watchlist rv1. And then the one that is last posted by Sonny page 5

 

[CDJay]

@Learnbot The updates. I think on page 3, but reading the thread helps anyway, and you'll find Sonny's latest version.

Of course, I might be confusing this with one of his other threads!

 

[jezzer46]

done for the morning on friday. NTZ and ASNA (got out before the halt) no home runs but a couple of RBIs on Friday is good enough for me.

 

[tmuzaffar1]

@CDJay I have the scan setup and my sidebar shows the watchlist linked to the scan. Now I get a sound alert with the symbol which stays for about 2sec and goes away and its not populating the watchlist, also when I go to the Marketwatch>Alerts its says symbol has been added to scan results. Appreciate if you can tell me what I am missing... thanks!

 

[CDJay]

@tmuzaffar1 Are you saying your watchlist is empty? I had one instance where I made some changes, ran the scan, but they didn't show up on the watchlist. Once I saved the scan query, they showed up automatically.

The other possibility is scans sometimes take a few minutes to show up in the early part of the day.

 

[CDJay]

done for the morning on friday. NTZ and ASNA (got out before the halt) no home runs but a couple of RBIs on Friday is good enough for me.

I'm glad you said that. Or maybe more accurately, I'm glad you said that today. Every day, I keep trying to add to it. Sometimes it goes great, but other days — like this morning — I make one too many trades and that leaves a bad taste, especially when it's my fault for not walking away with profit.

But you're right. A couple of singles is plenty to be happy about, so there's no sense continually looking for the next play.

Thanks for that insight.

 

[jezzer46]

Got faked out by GNCA. MNOV was the one to play today. I need to organize my self better. I think news is just as big as RV1. Correlating it with volume and then execute with whatever strategy you use is the way to go.

For those who missed it MNOV was alerted for me @ 10:03 est.

 

[jezzer46]

A little insight from my point of view. The big runners are the obvious premarket movers that have continued onto the morning session. Rv1 is probably over 20 and heading higher. The bigger the news the bigger the move. Anything with an Rv1 over 100 is usually the best bet to trade. (remember that the morning session is split into a few intervals, so just because a stock didnt blast off after the bell rings doesnt mean it won't eventually)

With that being said, I have noticed that the ones that populate the watchlist after 10am are the ones to scalp in and out. Rv1 around 5 to 6 and heading up is a good sign. From my experience so far I would say anywhere between $0.15 to $0.60 is what I would aim for. No big dollar moves here, but a reliable money maker none the less.

A little off topic here, but for higher float stocks like aapl, msft, intc etc... An Rv1 over 1 is basically the equivalent to a higher Rv1 on low floats. It signals that the stock is trading on higher than normal volume. This tends to lend itself for option traders as the higher the volume the bigger the swings on value are per contract.

 

[Jesusr123]

Hey Guys,

I am trying to run this scan after hours but sometimes it doesn't work, any idea, please? Thank you for your help.

 

[RickAns]

It won't start to populate the list until shortly after the start of trading day opens.

added
9:30 am EST

 

[Jesusr123]

How can I upload a photo?

 

[MerryDay]

How can I upload a photo?

@Jesusr123 A search of this site returned 79 results on how to upload an image.

To attach a screenshot, go to IMGUR.com. You do not need to set up an account. In the upper left, there will be a green box that says "new post". Upload the screenshot, at each screenshot, upper right-hand corner of the picture, it will say copy post. Click on "post to BB". Next, copy the URL and come back to this site. Then click on the insert link above, not picture. Paste in the URL box and click insert.

 

[Learnbot]

what was the winning ticker for u guys today and what time did it pop up? just curious

 

[poststreet]

i wonder if this revvolume thing would work if tied to earnings , tos has a great earnings page under markeplace, then click on calendar.
earnings do move stocks, perhaps not home runs but ....