How To Scan Stocks For Day Trading


For more precise screens, you can enter a custom value to refine your research. Zacks Investment Research provides stock rankings, research and newsletters. They offer a stock screener on their website, with both free and paid versions. This makes a good stock screener an essential tool for your research. Enter a range of different parameters and a stock screener will produce a short list of names that meet your needs.

day trading scans

This keeps the very low-volume stocks off the list, and keeps the list smaller and more manageable. Ross Cameron’s experience with trading is not typical, nor is the experience of traders featured in testimonials. Becoming an experienced trader takes hard work, dedication and a significant amount of time. Volume Dry Up and Pocket Pivots are some of the most powerful precursors to big moves in the stock market when interpreted correctly.


The scanner is by far not perfect and presents a lot of trash which I can visually quickly sort out. Here, we are interested in every single filter – we go through them one by one and then check whether the charts show us Pinbars or trend-continuation bars in the case of Dojis. I will expand my use of Finviz to descriptive and fundamental criteria in the future after I have done some research. You can choose over 650 different selectable metrics, and many involve years of historical data in its Stock Entry Level Plan.

I’ve intensively tested and reviewed every free and paid, app and platform to identify the best stock screener and compiled this list of the best ones. Besides the features and functionality insights, you will find all details about the costs and discounts in the list below. By being patient, these two long trades provide a low-risk entry. The purchase is made close to the stop-loss level, which would be placed a few cents below the trendline or the most recent price low made just prior to entry. As mentioned previously, trends don’t continue indefinitely, so there will be losing trades. But as long as an overall profit is made, even with the losses, that is what matters.

Best Stock Scanners for all Market Conditions

Before building this scanner, I would have to manually go through stocks and it took forever. For the list we’ve created, notice that the top candidate on our list is MRIN. In the daily chart provided here, we’ve forwarded the time stamp to the end of the day so that you can see just how powerful the move was. Now, it is just a matter of matching the stock’s intraday action with our own day trading strategies. This populates a great starting list to narrow down your trade ideas for the day.

To help you find the right fit, we’ve made a list of the best stock screeners available on the market today. Scanner in HAMMER is tied to a Portfolio window, where you can add a scanning algorithm. The scan executes, for each row in the portfolio, a mathematical formula involving the symbol’s parameters and technical indicators calculated for that symbol. The scan, for each row, produces a Scan Result displayed in the portfolio and can be used to sort the portfolio or show/hide some rows.

Range Breakout Scan

If you’re looking for a way to sift through the mountains of information to find one to trade, here are four popular screeners that can make the task easier. If you don’t spot a setup before it happens, it will be gone before you can open a position. That’s why having scans that you can use throughout the day to find potential day trades is so important.

A stock screener is a program with a user interface designed to search for stocks using filters selected by a trader. Day traders use stock screeners to narrow down the list of over 7,000 stocks traded on U.S. exchanges. Another way traders can scan for stocks is using a longer time frame. Day traders can start the night before or early in the morning to build a list of stocks that looks promising. When the opening bell rings, the day trader can start watching each stock they have scanned and execute a trade when they find their criteria being met.

Among the most popular websites that offer the tools are Yahoo Finance,,, and Webull. Most brokers, too, offer a screener to help their traders make better decisions. As for volume breakouts, you can scan for price breakouts using either the Breakouts module or the Pro Scanner. The Breakouts module allows you to quickly spot stocks that are crossing above or below a simple moving average or setting new 52-week highs or lows. In that sense, it’s a very useful tool for finding the widest possible selection of stocks to follow up on. For a day trader, Change From Open is more important than Change because day traders don’t hold positions overnight.

  • Our day trading guide​ covers more on day trading stocks and other markets.
  • In the parameters shown in the image below, you’ll see two condition groups that contain two parameters each.
  • Forbes Advisor adheres to strict editorial integrity standards.
  • This is how to scan for the stocks that are making big price moves, with volume, after the open.

Please note that demo holders will only be able to trade on stocks for a month before they are required to deposit funds. To attain solid scan results, you must identify what exactly you are looking for ahead of time. Be aware that tweaking will be required along the way in order to generate the most accurate candidates. The accuracy of the scans will be based on your filtering criteria. Accurate results help to speed up the time it takes to manually analyze the set-up, confirm triggers and put on a trade.

Another good intraday scan focuses more on extreme conditions, which can lead to sudden and large swings in a stock’s price. There are numerous technical indicators that could be used to identify abnormal trading conditions. Better yet, you can use the Pro Scanner to combine a volume filter with another intraday scan. This is perhaps the best approach to scanning for volume breakouts, since you can search for stocks that have both high liquidity and another intraday entry signal. I developed the “during the day scan”, discussed below, to find stocks that are moving a lot after the open. To a day trader, a big gap means nothing if you can’t trade it.

How to pick the best stocks for day trading

In the first condition group, we’ve defined that RSI is increasing over a period of candles while price is making lower lows over the same period of candles. In trading, divergence refers to the idea that two things that should move in tandem are not at this time. For instance, if price is making higher highs, then so, too, should RSI. As well, if price is making lower lows, then so, too, should RSI. When price is making higher highs or lower lows and RSI is not following along, that’s divergence. For the bearish trade, we exit on the first candle that closes above both of the EMAs.

All stocks have been evaluated and handpicked by our TI Traders to give you an edge and enable you to benefit from decades of trading experience. Have traded at least 500,000 shares per day over the last 10 days. Scalpers enter and exit trades quickly, usually within seconds, placing large trades in the hopes of profiting from small price changes. Bank of America’s trading volume is high, making it a relatively liquid stock. For the same reasons, Wells Fargo also makes for a very popular day-trading stock. Both of these stocks have high trading volumes and uncertain industrial conditions.


Free tools and free trials are typically the best way to get started. Only testing multiple tools allows for the best possible conclusion. The price paid for a stock screener should also be in the right ratio to the overall investment budget. Yahoo Finance falls into the same category as Stock Rover and Finviz, where Stock Rover takes the lead with the best cost/benefit ratio. But, like similar free tools with similar functionalities, they cannot scan for things like pink sheets, OTC stocks, holy grail, dividend yield, profit margins, and candlestick patterns.

That’s why I and my team built the Warrior Trading Stock Scanners with the same best practices and strategies which undergird our courses. Best of all, the scanners are included with Warrior Pro so our members don’t need to spend time and money finding the right scanning software. Using stock scanners I can choose the specific type of stocks I want to see. I can make complex scanners to look for specific chart patterns or I can use simple scanners to look for broad matches such as stocks that just reported earnings in the last 24hrs.

TC2000 offers a free version for students, but everyone else needs to pay $25 a month. The screener comes with a range of investing tools like charting, watchlists and options analysis. There are technical and fundamental screening capabilities, which you can layer on your charts. Day traders won’t find much to love at Stock Rover, as their stock screener offers only limited technical indicator metrics.