Started using this software a few months ago when a friend who started cranking out some big days scalping recommended it me as a way to filter for big bids and offers in NYSE stocks as well as finding locks and crosses on the regionals. It worked great for that but I mostly traded NASDAQ stocks. Thankfully, it works well for those too.
The tool does a couple of cool things that I can’t do with the two platforms I have access to, gr8trade and Hammer.
I trade mostly volume breakouts and had been using First Alert to find stocks that were on pace to trade 2-3 times more volume than normal. The problem however besides the cost (350 a month) was that they compared what a stock was on pace to do today against a 20 day average of the volume when I was really only interested in what it was doing today compared with the last few days, not a full month ago. This tool finds unusual activity faster because they compare it to a 3 day average. The field they use is called X Vol. For example if the stock comes across on a new high and the X Vol column is 3.4, then the stock is on track to trade 340% of its avg 3 day volume.
What I do is set it up so that I’m only looking at stocks that are on pace to trade say atleast 125% of their previous 3 days avg volume and then I focus on finding the good charts in that sub group. That cuts the amount of stocks I am looking at intraday by 80% and allow me to focus on only the stocks that are really moving and therefore have more potential for follow through both long and short.
Anyway, its worth checking out, the software is well named “Cyclops”. It really does help you keep an EYE on the market. They are working on some new stuff as well that is supposed to be pretty cool. Does other stuff than I mentioned, but that is what I use it for.
-Very satisfied user. |
Recommended 
Not Recommended
