Swing Trade Stocks Outperforming Market In ThinkOrSwim

[tellyt]

One of the best tools that TOS has is its scanner. For this choppy market I created a scanner that I run every Friday looking for Symbols that beat the SPY. I then use this watchlist for my trade ideas next week. It does not filter for Options . You will find there are some good stocks to trade that do not have options than make big moves

I use all Symbols as my watchlist in case there are ETF funds to consider
shared scanner link: https://tos.mx/!SO5z36m6 MUST follow these instructions for loading shared links.

Here is what it does
Step 1 Price range. I use $10 to $199 . You can modify this I do not want penny stocks or high priced stocks
Step 2 Look for symbols that beat the SPY the last 5 days
Step 3 Look for symbols that beat the SPY the last 31 days
Step 4 Look for symbols that beat the SPY the last 64 days

you now have a list of symbols that have beaten the spy for the last 64 days!

But lets add more filters

Step 5 Filter for volume > 1 Million . I want liquid stocks
Step 6 Check to see that Price is still moving up in the last 3 days ( you could change this to moving down for a possible dip )
Step 7 Check to see that Volume is still increasing for the last 3 day!

Now SCAN the market and use this list to swing trad these stocks. Holding time for me is 3-14 days

 

[slowmohockey]

One of the best tools that TOS has is its scanner. For this choppy market I created a scanner that I run every Friday looking for Symbols that beat the SPY. I then use this watchlist for my trade ideas next week. It does not filter for Options . You will find there are some good stocks to trade that do not have options than make big moves

I use all Symbols as my watchlist in case there are ETF funds to consider
shared scanner link: https://tos.mx/!SO5z36m6 MUST follow these instructions for loading shared links.

Here is what it does
Step 1 Price range. I use $10 to $199 . You can modify this I do not want penny stocks or high priced stocks
Step 2 Look for symbols that beat the SPY the last 5 days
Step 3 Look for symbols that beat the SPY the last 31 days
Step 4 Look for symbols that beat the SPY the last 64 days

you now have a list of symbols that have beaten the spy for the last 64 days!

But lets add more filters

Step 5 Filter for volume > 1 Million . I want liquid stocks
Step 6 Check to see that Price is still moving up in the last 3 days ( you could change this to moving down for a possible dip )
Step 7 Check to see that Volume is still increasing for the last 3 day!

Now SCAN the market and use this list to swing trad these stocks. Holding time for me is 3-14 days

I like your thinking with this scan Telly! Have you been using it regularly since you posted this in April and how have you fared?

 

[tellyt]

Sorry for the late reply I just got an email about this post. While that scan was useful fo rfindging great stocks you are chasing stocks in this market. I modified it to look for stocks beating the SPY with a nice pullback . I now get a list that gives me stocks that beat the SPY fo rthe last month in a pullback and have options. It dopes find some good trades but I have other scans I use all wiht a pullback theme Attached is a screenshot of the modified pullback screen

 

[Whoops]

Sorry for the late reply I just got an email about this post. While that scan was useful fo rfindging great stocks you are chasing stocks in this market. I modified it to look for stocks beating the SPY with a nice pullback . I now get a list that gives me stocks that beat the SPY fo rthe last month in a pullback and have options. It dopes find some good trades but I have other scans I use all wiht a pullback theme Attached is a screenshot of the modified pullback screen
View attachment 25539

Hello Tellyt,
I was wondering if you could post the updated script for the pullback version? I'm going to try out the first version and then compare with the updated one if you post it. Thanks!

 

[71Warhawk]

Sorry for the late reply I just got an email about this post. While that scan was useful fo rfindging great stocks you are chasing stocks in this market. I modified it to look for stocks beating the SPY with a nice pullback . I now get a list that gives me stocks that beat the SPY fo rthe last month in a pullback and have options. It dopes find some good trades but I have other scans I use all wiht a pullback theme Attached is a screenshot of the modified pullback screen
View attachment 25539

TellyT can you please attach a link to this newer scan? ThankYou.

 

[tellyt]

Link to newer scan:
https://tos.mx/!KwCsLfd9


@71Warhawk @Whoops

 

[Jonas]

https://tos.mx/!KwCsLfd9

Hi Tellyt, thanks for sharing. You are the reason I signed up for the service, as I immediately made some money with the scan!

Is there a reason that the scanned list is all teenage stocks? I was looking for some higher-priced Main Street liquid stocks, such as SBUX CMG TTD NVO AMD What would you suggest I change? Thanks!

 

[tellyt]

Here is a modified Scan to look for bigger companies. . Remember are looking for stocks that have beaten the SPY over the last 30 days and are having a pullback. I raised the min price to $50 and I added a filter for Weekly options. This will let you play with the bigger companies. I set the pullback to a 1% decline over the last 10 days. Please see screen shot for changes. You can modify any of these settings except the custome indicator. I have also attached todays results. I see LVS, MA, MO and UBER on the list .

Wihtout a pullback stocks like SBUX or AMD will not be on the list

here is a link you can just import.
https://tos.mx/!5Jc00oAN

 

[Jonas]

Here is a modified Scan to look for bigger companies. . Remember are looking for stocks that have beaten the SPY over the last 30 days and are having a pullback. I raised the min price to $50 and I added a filter for Weekly options. This will let you play with the bigger companies. I set the pullback to a 1% decline over the last 10 days. Please see screen shot for changes. You can modify any of these settings except the custome indicator. I have also attached todays results. I see LVS, MA, MO and UBER on the list .

Wihtout a pullback stocks like SBUX or AMD will not be on the list

here is a link you can just import.
https://tos.mx/!5Jc00oAN

Thanks, Telly, you are an angel. I mainly use a wheel strategy to trade very liquid names. And I tend to trade stocks with a deeper pullback, sometimes looking for a double bottom. A high IV is essential, as I usually sell puts first and then sell covered calls. Have you built a scan for liquid exhausted stock with high IV? I sold some puts and bought some TTD today, for instance. Also, could I set the pullback to 5 or 10% in the scanner without affecting your scan logic?

 

[tellyt]

Here is a simple scrip that should give you what you want. You can modify this to get different results
It is set to look at stocks with options and a price > $50 and IV > 50% that has a Price decline > 10% over the last 20 days. and volume > 1 Million shares There are no custom indicators

here is the link https://tos.mx/!C9gq2UTw

 

[Jonas]

Thanks Telly!