I trade a large variety of stocks and every once in a while I need to rebuild my watch list. My criteria is NYSE, at least 200K average daily volume, and at least 1.5 point average daily range, sorted by industry name.
I used to have Big Easy Investor to do this until they started charging $40 a month and their average daily range indicator is not very precise, I got some really crappy stocks that don't move at all with that scanner.
I have looked everywhere on the web and I can't seem to find an equivalent. My formula is very simple:
average(high - low) of last 20 trading days > 1.5
I used to have a program called Quote Plus 2 which allows you to write scripting language to scan for stocks, but it is $25 a month and while I guess I can just bite the bullet for it, I find it kind of wasteful to spend $25 a month for something that I only need a few minutes a month to update a watch list.
If someone can come up with an Excel macro or can point me to something that does what I described above for free, I would be very grateful, otherwise I probably will just subscribe QP2, I don't have anything at home to read charts with so I guess it may be worth it.
Instead of (Hi-Lo), I used to scan for P/e > 50.. the inflated ones tends to be more volatile.
Hope that helps.