(sorry, wasn't sure if this should be posted in this thread or the scanning thread) In a nutshell, I trade stocks that gap open up or down and then do a reversal and fill in the gap. My primary entry point is above or below the previous close, depending if going long or short. Generally, if a stock gaps down, I look to go long when it breaks upward through the previous close. If a stock gaps up, I look to short it when it breaks downward through the previous close. Is there a scanner out there that: 1) has a function that will first be filterable by the user for things such as price range and average daily volume, and then 2) scan for stocks gapping up or down by an amount I can set, preferably a range i.e. one point and up, and then: 3) notify the user when a stock in the group has traded through the low or high of the opening 5-minute bar, and 4) send another notification when the stock is within X amount of the previous close, X being a value settable by the user? For example, let's say stock A does this: It gaps open at $60, 1.5 points above the previous close of $58.50. In the first five minutes its high is $60.75 and the low is $59.75. Twenty minutes after opening it drops like a rock past the 5-minute low of $59.75, and continues to drop through the previous close of $58.50. It trades the rest of the day under that price. I would like the scanner to first be able to identify stock A based on my price and average volume criteria, notify me when A dropped below the 5-minute low, and finally tell me when A is say 25 cents away from reaching the previous close price. I would prefer NOT to use scanners that require a specific data feed of some kind (i.e. RealTick, which I don't have), but will definitely look at all suggestions. thank you
learninglisted - Our firm use's the "Radical" platform. I do not trade on it , I use our other platform . Here is the only quote from Radical Corp's website on their scanning capability, " Real time quantitative analysis for market scanning and generation of market opportunity signals. " If your interested, here is a link to the description of Radical, http://www.radicalcorp.com/ We are one of only a *very* few BD's that offer Radical as an execution platfrom. I probably could get you a demo to try out, pm me if your interested. rttrader -
TradeStation 7 "Radar Screen" can be set up to screen almost any parameters or be programmed with easylanguage.
Can you be more specific? I went to the Pristine site and ESP is very comprehensive.... Also, how stable is ESP? I tested it a long time ago in beta and it was extremely buggy.
Your request depends on how many symbols you wish to scan? The entire market? 300K symbols? or the NAZ100? NeoTicker (www.tickquest.com) has very comprehensive scanning capabilities that can scale from several hundred symbols using a quote sheet, or, up to 300K symbols using there Pattern Scanning technology. I personally have it set up to scan 400 symbols in real-time using Esignal. I run up to 10 different complex scans that run at specified intervals every few minutes. Once the scanners are done, you can dump distribute them off to quote sheets, or distribute them automatically to multiple charts. You can visually scan the scan results very quickly.
Good question. One of the criteria which I should have mentioned in my first post were stocks that had a range of 2 points or more the previous day. Both OTC and listed.