StockFetcher Forums · General Discussion · How Do You Find Day Trading Candidates?<< >>Post Follow-up
einok
msg #95530
Ignore einok
8/9/2010 12:33:06 PM

Since Stockfetcher has only daily data, how do you all find candidates for day trading (minute or hourly timeframe?)

Thanks

johnpaulca
11,312 posts
msg #95533
Ignore johnpaulca
8/9/2010 1:01:18 PM

SF is used to mine for candidates. You will then use an intraday charting like TOS for your entries using your favorite time frame.

klynn55
425 posts
msg #95544
Ignore klynn55
8/9/2010 9:18:12 PM

use daily criteria to watch for intraday moves, 52 week highs, support and resistance, rsi2 over 95 and under 5, 26 week high and lows, stocks that have gained over 30% and are under market cap 500 million(short) etc, supernovas, see tim sykes,
news , stocks close to 50 ma, etc

Eman93
4,659 posts
msg #95546
Ignore Eman93
8/9/2010 9:32:22 PM

see the run forest run thread


TheRumpledOne
6,362 posts
msg #95626
Ignore TheRumpledOne
8/13/2010 4:10:41 PM

See the NEVER LOSE AGAIN and FADING THE GAP STATISTICS threads.

Kevin_in_GA
4,552 posts
msg #95627
Ignore Kevin_in_GA
8/13/2010 4:25:17 PM

I don't.

alf44
2,025 posts
msg #95630
Ignore alf44
modified
8/13/2010 5:24:03 PM


How Do You Find Day Trading Candidates ?

-----

A stock is a good "day trading candidate" ... if it has 2 things :

1.) VOLATILITY - trades a large daily range !

2.) LIQUIDITY - trades a large number of shares daily to allow easy entry/exit !

---

With those things in mind I created / use this scan to find stocks that make nice trading vehicles.

The parameters can be tweeked if you like (although be careful ... you'll screw it up) !


The jist is to find stocks that trade OVER 1M shares on average ...

... and that have Average Daily Trading Ranges that are GREATER than $1.00 ...

... and that have Average Daily Trading Ranges that are GREATER than 4% of their stock price ... BANG FOR THE BUCK !!!

-----


Fetcher[

/* BANG FOR THE BUCK */

/* 30 Day Average Daily Range check */
set{30DayRngSum, sum(Day Point Range, 30)}
set{30AvgDayRng, 30DayRngSum / 30}

/* 60 Day Average Daily Range check */
set{60DayRngSum, sum(Day Point Range, 60)}
set{60AvgDayRng, 60DayRngSum / 60}

/* 90 Day Average Daily Range check */
set{90DayRngSum, sum(Day Point Range, 90)}
set{90AvgDayRng, 90DayRngSum / 90}

/* 30/60/90 Day Average Daily Range check */
set{3060AvgDayRngSum, 30AvgDayRng + 60AvgDayRng}
set{306090AvgDayRngSum, 3060AvgDayRngSum + 90AvgDayRng}
set{306090AvgDayRng, 306090AvgDayRngSum / 3}

/* "Bang for the Buck" check */
set{Bangratio, 306090AvgDayRng / Close}
set{Bangpercent, Bangratio * 100}

/* -------------------------------------------------- */

/* SYMBOL SELECTION */

Show all stocks where Bangpercent is above 4
306090AvgDayRng above 1.00
Average Volume(30) above 1000000

Price between 5 and 1000

/* ------------------------------------------ */

/* COLUMNS */

add column separator
add column RSI(2) {r2}
add column separator
add column Average Volume(65) {avgvol65}
add column separator
add column Bangpercent {Bang}
add column separator
add column separator
add column 306090AvgDayRng {AvgRng}
add column 30AvgDayRng {30AvgRng}
add column 60AvgDayRng {60AvgRng}
add column 90AvgDayRng {90AvgRng}
add column separator
add column separator
add column Shares Outstanding {float}
add column separator
add column Industry

chart-time is 44 Days

sort column 10 descending

do not draw Bangpercent
do not draw 306090AvgDayRng
]



-----

These are the Movers and the Shakers !!!

Higher the BANG ... Greater the Volatility !

And ... for a "Trader" ... it's all about Volatility and BANG !!! imo


Regards,

alf44


scott111552
148 posts
msg #95643
Ignore scott111552
8/14/2010 9:35:24 AM

Thanks Alf, for this filter....I've always been a huge fan of ATR in my trading and this should work well with my style...
thanks again....

alf44
2,025 posts
msg #95694
Ignore alf44
8/17/2010 12:34:22 AM


GLTY !


StockFetcher Forums · General Discussion · How Do You Find Day Trading Candidates?<< >>Post Follow-up

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