How to Find and Scan for Stocks to Swing Trade

how to scan stocks for swing trading

Candlestick Screener – candlestick traders will find this screener useful because it scans for all the major candlestick patterns on the daily charts. There are reversal patterns and continuation patterns that are helpful to find entries. For example, some traders use MACD to generate signals, while others use RSI, or the stochastic indicator to find oversold stocks. And then how to scan stocks for swing trading other traders rely on candlestick patterns to make trading decisions. Momentum traders like to use strong volume increases as an entry point. Find the best swing trading opportunities efficiently in any market with these six simple market scans you can use with any market scanner. If you want more control over your swing trade scans, you’ll want to turn to the Pro Scanner.

how to scan stocks for swing trading

I don’t generally short stocks when the indices are moving up strongly. But it is handy to have a list of potential short trades if things get ugly. The stocks discussed often provide ample swing trading opportunities throughout the month.

Backtest EVERYTHING Before You Trade It

Trade the best looking setups that fit your strict criteria. For example you can choose to only see stocks that are trading at least 100 thousand shares in daily volume or stocks that are priced under $20.00 if you have a smaller trading account. There is a very high degree of financial risk and loss involved in trading securities. Presenter assumes no responsibility or liability of any kind for your trading and investment results.

  • There are two basic functions and search periods for stock scanners, fundamental and technical based on end-of-day or real-time intraday data.
  • Past results are not necessarily indicative of future results.
  • Has a lot of useful information on its website, including a stock screener that investors of all skill levels can use.
  • Keep adding filters until you get to a list of no more than 10 stocks.
  • These are more hands-on programs that can be time consuming to set-up for the user especially if programming knowledge is required, but the accuracy of the scans are the highest.
  • This stock screener uses advanced algorithms and data to instantly provide investors with the information they are looking for.

I use the concept of Bollinger Bands to find trading days with extreme volume. You will see that it is unusually smooth and matches the wave-like movement of the market. Tracking the turning points of HMA is a simple way to follow market waves.

Scan #2: Up/Down 25 cents+ Last 5 Minutes on Big Volume

As such, it’s possible to quantify both profitable and losing setups. This is a very common misconception among many beginning traders. Advanced trading platforms typically offer a tool that allows you to set a trailing stop for swing trading. Using a stop-loss order is a risk management strategy for limiting losses.

how to scan stocks for swing trading

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