Does any know of any screening/scanning software or web site that will screen for stocks that are : 1. in a tight intraday consolidation 2. breaking out of their intraday consolidations Thanks, Michael Norris http://www.CornerstoneInvestorsNetwork.com
There is a very cool site at http://www.traderbot.com, where you can create customized real time screens. There is a free 1 week trial period you can check out, or it's $39.95 per month for the full registration. It's also free if you only need end of day scans. Also, if you use Realtick, there is a program called Sortwizard that uses the data feed to do customizable intraday stock screens. I'm sure you could customize a screen to look for intraday consolidations or breakout candidates.
I had looked at SortWizard's web site and didn't seeing anything under it's features that had the ability of identifying stocks in a tight trading range intraday and/or identifying when any of those stocks are breaking out of their consolidations. It may be possible to do such a scan but they don't list it as one you could do in their list of scans possible on their software. If anyone knows if this is possible let me know. Also I spent a lot of time at Tradersbot.com entering in some parameters that I thought might possibly pull up some intraday consolidating patterns, but had no such luck. They lacked an option of putting a parameter of trading within a certain range within a certain period time. They have an option to enter a parameter of Price within X % or x points of today's high, which would be great if you could specify a trading range the stock prices need to be in but they don't offer anything like that. There could be another way to do it that I'm missing. Anybody have any ideas of what parameters could be entered with Traderbot that I may have overlooked that would pull up intraday consolidation patterns? Or is there other software out there that might perform the function of identifying stocks trading within a tight trading range intraday and/or then identify when they break out of this range?
The MWatch scanner at http://www.mtrader.com/mwatch uses a real-tick data feed but can detect consolidation periods and breakouts intraday. You can download the trial software and read the help files which explain how to use the pre-programmed scans (inc. consolidation breakouts) or programming your own scans. There is also a two week free trial. I will admit an interest in this software as I'm the author . Regards Mike Diplock
are there any updated answers to these intraday consolidation websites? I think it would be highly profitable
You can do whatever you want with this software..including what you are looking for. It is CPU, RAM and badnwidth intensive, however. And probably not cheap. Check out Neovest..com or maybe there is First Alert.com.
I concur that it can definitely do it, except that they've got a newer version that is not so bandwidth intensive. you might want to talk to them about it.
This version is the less-bandwidth-intensive one they recently came out with. Its kinda pain in the ass for reasons I can not go into here because it gets technical. But Im using this version as soon as things get set up.