Does anyone use the scans on stockcharts on a regular basis? I was just wondering because I just found this and theres like 10 million different scans. I'm still pretty new to trading and haven't heard of half the scans. If you look at this, which ones do you use and how? and how often? Basically, if you scan daily charts for any indicator, which ones do you use and in what manner?
yes, i use them for candlestick patterns, i think it is a good site for that, as well as for general market overview each evening. Run some Evening Star patterns on a daily chart and watch it develop, you will build good confidence! Good Luck!
LOTS. Before I switched to Amibroker and then to Wealth-Lab, I used stockcharts.com every day to do all of my picks. I wrote some freakin' long scans that would put all US equities through about eight filters (some based on indicators, some on price patterns) before presenting me with a pared-down list of five to fifty candidates. I'd then pick the best ones from that list and manually enter orders through IB. I did really well (approx 60% gain) based on my three scans that took 9 months of testing and 40 hours of programming to perfect; that is, until the system fell apart because the market conditions had fundamentally changed. My friends still use stockcharts.com. I only switched away because i wanted full automation and backtesting capabilities. I'm dropping my stockcharts.com membership this month because I haven't used it for ages and ages--if only I hadn't prepaid for so many months in advance!
My stock screener of choice is Stockfetcher.com. You basically type whatever you want using dozens of technical indicators. It has total flexibility. If you can imagine the setup, you can find stocks that match it. They let you do free screenings that are a week old. If you want the screens to be run against the current day, they have a monthly fee of $8.95. You can't beat it!