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Stock Screeners / Scanners
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Stock Screeners / Scanners

  #21 (permalink)
Atlas
Bloomington
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
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Posts: 191 since Apr 2011
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RE-RE asking the question


ShruggedAtlas View Post
Ok y'all, the thread title is Stock Screeners and we've been talking about scanners. I know that they're prolly one and the same but I want to make a distinction between a scanner/screener that:

1. allows you to select a series of predefined indicators and fundamentals criterion
2. scans a universe of stocks at the moment you hit the OK button and returns a static list of results

and a scanner/screener that:

1. allows you to create/code your own custom criterion (strategy/setup involving multiple time frame conditions)
2. is real-time and perpetually streaming an ever changing list of results
3. can be applied to a universe of stocks such as the S&P 500
4. can be instantly linked to your charting package

Ameritrade StrategyDesk has such an alerts/screener but I am finding that it is not nearly as responsive as I need it to be. It misses many very good signals that my backtester catches. Is there a good alternative out there that is reliable amd responsive?

I am at my wits end. The search for a powerful stock screener that does the above mentioned items has reduced me to a blubbering mass of decaying flesh. I am getting the impression that I trade unlike any other trader in the world. I am at a total loss.

"I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game-winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
- Michael Jordan, 5-Time NBA Most Valuable Player, 6-Time NBA Champion
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  #22 (permalink)
Elite Member
Netherlands
 
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Platform: none
Favorite Futures: Stocks
 
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Posts: 196 since Sep 2010
Thanks: 117 given, 353 received

Take a look at the book "One good trade" by Mike Bellafiore. they are trading "Stocks in Play" every day. The stock screener would be too much an hindsight filter because extreme volatility or taperolling is from what is already done.

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  #23 (permalink)
Atlas
Bloomington
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
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Posts: 191 since Apr 2011
Thanks: 78 given, 74 received

I firmly believe in the power of a good screener



Ryanb View Post
Take a look at the book "One good trade" by Mike Bellafiore. they are trading "Stocks in Play" every day. The stock screener would be too much an hindsight filter because extreme volatility or taperolling is from what is already done.

Unless I'm misunderstanding you, It sounds like you don't see much merit in screeners. I'll have to read the book you suggested to more fully understand your take on screeners.

My screens search for stocks that are showing conditions that, given the correct trigger, will have a high probability for success. My conditions have been thoroughly backtested and have proven to be profitable when paired with the appropriate trigger condition. I know my method is robust.

The trouble I have is in finding a screener (tied to an alert system) that can find those INITIAL conditions as they happen in real time. This is what a screener does! Afterall, what would be the point of a screener if there was no merit in finding stocks with conditions ideal for trading?

I have had success with Ameritrades Strategydesk with this strategy on longer time frames but it is not quick enough to flag those conditions on the shorter time frames that I want to trade. It does all the work for you and would literally be the PERFECT solution if only it were more responsive.

Tradestation screener may have a faster screen but you can't apply more than one time frame to a single stock Sorting is very limited. You have to separate different time frames in different tabs and then copy and paste results from longer time frame into another tab with shorter time frames. It's a disaster!

Multicharts seems to handle it's screener in the same way as tradestation (still researching but not hopeful) there doesn't seem to be anyway to filter based on more than one time frame. example: hourly SMA moving up and 10 minute Stochastic below 20. Sorting is severely limited.

Ninja trader is exactly what I am looking for. It basically works the same as Ameritrades StrategyDesk screener except that you it makes you do a lot more work to get it to display/filter in the same way StrategyDesk does. Only one serious problem....it can't handle the workload and brings the system to a crawl and becomes utterly unusable. Plus, if you don't have programming experience you have to spend several days learning C#just to accomplish basic things.

Worden TC2000 is almost there! Offering a very fast scanner that allows you to create your own custom conditions. it has the advantage of doing all the work on it's servers and then sends the data to your machine for further sorting. Sounds great! Only two major flaws. 1. It's exponential calculations don't use enough data and so don't reflect what your chart shows. Therefore you get erroneous results! 2. you have to manually hit the re-scan and -resort buttons over and over and over again. It does NOT stream results in real time. It sends a static list which you then sort according to conditions you code. - it's very disappointing that such a powerful software would leave out auto-sorting! 3. It has no alerts attached to the conditions. You cannot fire an audible alert based on the conditions. You literally have to sit at your computer all day long hitting the rescan button and watching a 4x4 section of your monitor in the hopes that a conditions will fire. 4. You can't have multiple strategies running at the same time like you can with NT and Ameritrade StrategyDesk. 5. It is not very flexible for multiple monitors and you can't trade from the platform. It's strictly a charting package with a focus on screening stocks

So......does anyone out there know of any solution to my problem??

"I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game-winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
- Michael Jordan, 5-Time NBA Most Valuable Player, 6-Time NBA Champion
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  #24 (permalink)
Elite Member
Netherlands
 
Futures Experience: Advanced
Platform: none
Favorite Futures: Stocks
 
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Posts: 196 since Sep 2010
Thanks: 117 given, 353 received

Stocks in play is a stock that:

1. Had extremely bad or good news
2. Technically in a good position to trade it the direction that the news.

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  #25 (permalink)
Elite Member
Prague, Czech Republic
 
Futures Experience: Advanced
Platform: AgenaTrader, Track'nTrade
Broker/Data: DeCarley/OEC, IBKR, IQFeed
Favorite Futures: futures, options
 
Posts: 180 since Sep 2010
Thanks: 66 given, 83 received


ShruggedAtlas View Post
Unless I'm misunderstanding you, It sounds like you don't see much merit in screeners. I'll have to read the book you suggested to more fully understand your take on screeners.

My screens search for stocks that are showing conditions that, given the correct trigger, will have a high probability for success. My conditions have been thoroughly backtested and have proven to be profitable when paired with the appropriate trigger condition. I know my method is robust.

The trouble I have is in finding a screener (tied to an alert system) that can find those INITIAL conditions as they happen in real time. This is what a screener does! Afterall, what would be the point of a screener if there was no merit in finding stocks with conditions ideal for trading?

I have had success with Ameritrades Strategydesk with this strategy on longer time frames but it is not quick enough to flag those conditions on the shorter time frames that I want to trade. It does all the work for you and would literally be the PERFECT solution if only it were more responsive.

Tradestation screener may have a faster screen but you can't apply more than one time frame to a single stock Sorting is very limited. You have to separate different time frames in different tabs and then copy and paste results from longer time frame into another tab with shorter time frames. It's a disaster!

Multicharts seems to handle it's screener in the same way as tradestation (still researching but not hopeful) there doesn't seem to be anyway to filter based on more than one time frame. example: hourly SMA moving up and 10 minute Stochastic below 20. Sorting is severely limited.

Ninja trader is exactly what I am looking for. It basically works the same as Ameritrades StrategyDesk screener except that you it makes you do a lot more work to get it to display/filter in the same way StrategyDesk does. Only one serious problem....it can't handle the workload and brings the system to a crawl and becomes utterly unusable. Plus, if you don't have programming experience you have to spend several days learning C#just to accomplish basic things.

Worden TC2000 is almost there! Offering a very fast scanner that allows you to create your own custom conditions. it has the advantage of doing all the work on it's servers and then sends the data to your machine for further sorting. Sounds great! Only two major flaws. 1. It's exponential calculations don't use enough data and so don't reflect what your chart shows. Therefore you get erroneous results! 2. you have to manually hit the re-scan and -resort buttons over and over and over again. It does NOT stream results in real time. It sends a static list which you then sort according to conditions you code. - it's very disappointing that such a powerful software would leave out auto-sorting! 3. It has no alerts attached to the conditions. You cannot fire an audible alert based on the conditions. You literally have to sit at your computer all day long hitting the rescan button and watching a 4x4 section of your monitor in the hopes that a conditions will fire. 4. You can't have multiple strategies running at the same time like you can with NT and Ameritrade StrategyDesk. 5. It is not very flexible for multiple monitors and you can't trade from the platform. It's strictly a charting package with a focus on screening stocks

So......does anyone out there know of any solution to my problem??


Hi,

I believe, that you can achieve all you are looking for with custom scans in Investor R/T and its realtime Quoteboards. Try to ask for more details @LSChad

Regards

Rani

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  #26 (permalink)
Elite Member
Massachusetts (USA)
 
Futures Experience: None
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Favorite Futures: YM
 
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Big Mike View Post
For months I've been wanting to get back to swinging stocks on the side. So now I am getting serious about it again, and have funded an MB Trading equities account just for this purpose. Still sticking with futures as my primary goal, but swinging stocks holds a special place in my heart as I've been doing it for almost 15 years.

Most recently, up until about two or three years ago, I was using Worden StockFinder to screen. But now I am looking for something a bit simpler, and less time consuming. So I've been looking for some good screeners.

I found this one so far that looks interesting:

FINVIZ.com - Stock Screener

Take note of all the signals and patterns it detects, it seems to be exactly what I am looking for. Has anyone used it? Or does anyone have any better recommendations?

Mike

I'm surprised to hear this. I thought you didn't trade stocks. Anyway, I wish my friend was
part of BigMikeTrading. I know a little about his trading methodology, but I just can't say much without
his permission. I know you're looking for a stock screener, but he has a group of stocks (don't know
how many) that he looks at. He says something is always going up. This is not day trading though. I'm not
sure if that's what you're going for or not. He does multiple-day trading, or whatever the term is.
If you have 100 specific stocks, that might be a manageable amount to check out once a day?

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  #27 (permalink)
Elite Member
Massachusetts (USA)
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: YM
 
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Posts: 778 since Jun 2009
Thanks: 144 given, 358 received


shodson View Post
StockCharts.com has some decent scans

Stock Scan: Predefined Scans - Charting Tools - StockCharts.com

I think swing trading with options is even better: as the trade goes against you, delta helps limit your losses, while if you get a runner, delta approaches ~1.0 and you get some juicy leverage in your favor. Of course, you're having to deal with theta decay but if you buy 30-45 days from expiration you shouldn't have too much to worry about as price will get you out of the trade pretty soon if it's not going to be a winner.

My grand idea about options was to have 4 or 5 calls to 1 put (bullish guess)
else
4 or 5 puts to 1 call (bearish guess).

For the bullish guess, the idea was that if the OEX (or whatever) went up slightly you made money.
If it went down significantly, in other words your guess was totally off, you still would make some money or
come close to breaking even.

Just looked it up now. I guess it's a strap if bullish, and a strip if bearish. So if I got this right,
the strap is a long straddle with a bullish bias. The strip is a long straddle with a bearish bias.

Attachment shows a strap. But their website only uses a 2 to 1 ratio of calls to puts, so there isn't much
of a bias there in my opinion.


Strap Explained | Online Option Trading Guide

Strip Explained | Online Option Trading Guide

Attached Thumbnails
Stock Screeners / Scanners-strap.png  
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  #28 (permalink)
Elite Member
Massachusetts (USA)
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: YM
 
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Posts: 778 since Jun 2009
Thanks: 144 given, 358 received


wccktrader View Post
If you are scanning for stocks approaching trendline supports or resistances, check out Chart Pattern Recognition Forex and Stock Screener Finds Chart Patterns Fast.

This seems like an interesting piece of software. It does a number of things besides trendlines.

From their website:

Ramp is a trendline scanner.
Ramp is an automatic trendline generator.
Ramp is a Fibonacci Retracement Screener.
Ramp is the worlds best MACD Divergence Scanner.

Ramp will screen for prices on trendlines, breakouts, MACD divergences,
Fibonacci retracements, W bottoms, head and shoulders, cup and handles
and many other great trading setups.

Chart Pattern Recognition Forex and Stock Screener Finds Chart Patterns Fast

Attachments are their products and pricing and timeframe info.

Attached Thumbnails
Stock Screeners / Scanners-products-ramp.png   Stock Screeners / Scanners-timeframes-ramp.png  
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  #29 (permalink)
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
Platform: TOS, TS & MC
Broker/Data: TDA & TS
Favorite Futures: Stock, Options and now Futures (ES)
 
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Posts: 514 since Dec 2010
Thanks: 227 given, 134 received

For those of you with TDA, request access to Prodigio.

One can screen stocks there, up to 500, at least a few months ago. Might be more now...

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  #30 (permalink)
 Vendor: www.multicharts.com 
Columbus, Ohio, US
 
Futures Experience: Intermediate
Platform: MultiCharts
Broker/Data: Multiple/Multiple
Favorite Futures: ES, EUR/USD
 
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Posts: 168 since Oct 2010
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No screeners here, but interactive real-time online charts with stock, futures and forex data and can be found here - www.tradingview.com

MultiCharts - Raising the Trading Standard.
Please send me a private message if you have any further questions about MultiCharts
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