How To Scan Stocks For Day Trading



Most importantly, there needs to be other participants in ensure liquidity. The tightness of your filters will be the key to generating accurate results. If you are scanning for pattern set ups, make sure to validate how accurate the results are. If the scan can be customized, then it would be prudent to learn the necessary programming in order to produce the needed results. They often miss the context that impacts the effectiveness of the pattern during scans. The timeliness of the scan results is a top for intra-day scanners, where seconds and minutes can make the difference between ripe or lost opportunity.

relative volume

ok people – let’s get real! should consider their investment objectives and risks carefully before investing. If you can’t find what you need in our built-in list of scanners, just switch to Advanced mode and you can utilize your coding skills as well. The scans are fully customizable and can be rewritten by you in C# code. You can create the exact rules by which Hammer can scan stocks and match your professional strategy. Finding the right stock to day trade is only part of the battle.

  • 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
  • I used the free Finviz screener long before I started using Trade Ideas.
  • Your results may differ materially from those expressed or utilized by Warrior Trading due to a number of factors.
  • Use this stock analysis app to leverage real-time data and browser-based charts to do your research anywhere.
  • Here’s how you can scan for the best undervalued stocks every day with Scanz.

When the indexes and futures are moving higher, traders should look to buy stocks that are moving up more aggressively than the futures. When the futures pull back, a strong stock will not pull back as much . These are the stocks to trade in an uptrend because they tend to lead the market higher and, thus, provide more profit potential.

Take Regular Profits

StockRover also allows for backtesting and creating equations—combining multiple filters into a mathematical equation to further fine-tune results. You can buy credits in blocks of 10,000 ($10) or upgrade to unlimited usage for $29.97 per month or $259.97 per year ($21.66 per month). It is easy to use – As shown above, there are many providers and the process to use it is relatively simple. Therefore, in the example below, we have created a screener that one can use when trading. Examples of ratios are price to earnings, price to sales, and enterprise value to EBITDA.


As well, we can see that price is extended below the VWAP by less than -1%. Price then takes out the high of said Doji reversal candle and a long trade can be put on. Pair these candles with above-average volume and you might just have a recipe for a successful trade.

Liquidity and volume

As short traders are forced to “buy back” the shares they were selling short, the stock price is driven higher and higher. Generally speaking, a short squeeze occurs when too many traders are betting that the stock will go down. They borrow the shares to sell from their broker, and hope to buy back those shares at a lower price, expecting to make money in the opposite direction of bulls. This populates a great starting list to narrow down your trade ideas for the day.

fundamental and technical

However, only Elite and Advanced have backtest capabilities, intraday scanning and multi-factor alerts, and they differ in things like the number of results per scan, workspaces and alerts. The Free plan unlocks access to charts, stats and watchlists with delayed quotes. The Basic Plan for $27 per month also has delayed quotes but also comes with alerts and access to premium articles on Benzinga. If you’ve ever traded stocks, you’ve probably used a market maker.

During a range, our drawn lines will be horizontal, not angled. Sometimes, intraday trends reverse so often that an overriding direction is hard to establish. If major highs and lows are not being made, make sure the intraday movements are large enough for the potential reward to exceed the risk. By being patient, these two long trades provide a low-risk entry.

How to Find Day Stocks Moving Big AFTER the Open

Here’s how to scan for day stocks that are making big price moves AFTER the open. Big movement during the day, not overnight gaps, is how day traders make money. This is just a short list, but it encompasses a lot of what day traders are looking for each day as they scan the markets.


For the bullish trade, we enter when price gets above the high of the candle that made the lower low. Screeners offer a lot of flexibility and options can’t do much for you if you don’t know what you want or need. It’s impossible to read up on current events, review your portfolio and track stocks at the same time. In Benzinga Pro, the news feed updates with a yellow flash on your screen, revealing news that just broke within the last few moments. StocksToTrade in no way warrants the solvency, financial condition, or investment advisability ofany of the securities mentioned in communications or websites. In addition,StocksToTrade accepts no liability whatsoever for any direct or consequential loss arising from any useof this information.

We exit the trade on the first candle that closes above both EMAs. So as to save time and energy scanning, we’ve created this scan to look for both the bullish and bearish setups at the same time. The bullish setup being when the 8 EMA crosses up on the 21 EMA within the past three candles and price closes above both EMAs.

Similarly, if you focus on small cap companies, you can use the screener to remove large cap names like Microsoft and Google. There are thousands of stocks listed in major exchanges around the world. In the US, the most prominent names are Apple, Microsoft, and Facebook. In Europe, the best-known companies are Royal Dutch Shell, Volkswagen, and Daimler. Check out this step-by-step guide to learn how to scan for the best momentum stocks every day with Scanz.

Why Scan for Stocks?

Level 2 data is important for traders because it shows the full range of open orders for a stock, not just the current best bid and ask price. Using Level 2 data, you can identify potential trades before they become apparent on technical charts or get additional… These scanners monitor various newsfeeds to pull information on specific companies or key words that the user provides. The goal is to get a first-mover advantage to find key news items that can move a stock.

If you trade forex or cryptocurrencies with stocks, for example, TradingView offers custom screeners for these assets. Combining a smooth design with powerful tools, TradingView is our top choice for the intermediate trader. Day trading stocks can be profitable, but you can also lose money. Day trading profitability depends on the strategies and risk-management methods of the individual.

Some scanners work with custom indicators which work well with Simpler Trading’s proprietary tools like the Squeeze Pro, and Ready.Aim.Fire! A stock screener is a tool that helps you to “sieve” stocks based on several unique characteristics. Here’s how you can scan for the best undervalued stocks every day with Scanz.

With a premium subscription, you also benefit from a suite of pre-configured screens by Ziggma’s experienced analyst team. Take a look at Ziggma’s stock screener for a best-in-class user experience by signing up for a free account. Search parameters are set on sliding scales without the need for manual entry, while search results are updated continuously. You might be wondering how anyone decides which stocks to buy or sell and how traders find new purchase opportunities. The answer to both of these questions is often a stock screener.

To attain solid scan results, you must identify what exactly you are looking for ahead of time. Be aware that tweaking will be required along the way in order to generate the most accurate candidates. The accuracy of the scans will be based on your filtering criteria. Accurate results help to speed up the time it takes to manually analyze the set-up, confirm triggers and put on a trade.

The bearish setup being when the 8 EMA crosses down on the 21 EMA within the past three candles and price closes below both EMAs. In the parameters shown in the image below, you’ll see two sets of condition groups. The first two conditions within each group define that price is closing either above or below the two moving averages. We want to see price above or below these moving averages because we’ll be looking to utilize them as support or resistance and for our take profit/stop loss. Use the stock screener results as a starting point — not the final verdict. Read about any legal or economic impact issues that could affect individual companies, because a screener won’t be able to know about every single factor that affects a company’s stock prices.

The pairing can help you learn how to trade into risk-reward balanced trades. But some of its most popular criteria include several proprietary Zacks metrics, including Zacks Rank, Value/Growth/Momentum Scores, and Earnings Expected Surprise Prediction . Available in three plans including standard which is free, premium and elite, users will get up to 10 stock screeners depending on which plan they choose. Basically, with the free plan, you only get one screening tool, five for the premium version and 10 for the elite package.

Here are the scanners that we use to find the best momentum stocks to trade every day. However, your screener is just one of the research tools you’ll need to stay on top of the market’s movements. Nothing can compare to your own research, using the stock screener as a jumping off point. Digging into a stock, finding what makes it tick and investing at the appropriate level requires time and patience. Think of the stock screener, then, as your muse — your well-informed muse with tons of features.

You will then receive the alerts via email once the set conditions are met to save you time especially on open trades. With some technical indicators proven not work, the platform provides traders with 15 backtested indicators making it more beginner friendly. On top of that, you can screen for more complex data-points including fundamental or technical indicators. With this in mind, one can filter for stocks trading above 50-day or below 200-day simple moving average.

The right stock screener app can greatly enhance your trading and help you identify more profitable trading opportunities. Decide which stocks you want to screen, how the news should impact your decision-making and when to ultimately buy or sell. Before you open up your trading software and make your 1st trade of the day, check out our list of the top-moving stocks making waves on the market today.