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Friday, September 22, 2006

Another gap source

Over the past few weeks we have been discussing the sources available for finding gaps - most of them free. I wanted to talk about one paid source that is probably worth most of you looking into - Trade-Ideas.

I made this post about Trade-Ideas earlier in the year. Over the past few days, I have been experimenting with Trade-Ideas to find gaps. Here is what I do - I configure an "Alert Window" to find Gaps Up and Gaps Down of 2% minimum, and Average Daily Volume of 100,000 minimum. At 9:50 EST (20 minutes after the market opens), I open the Alert Window and click the "History" link. Trade-Ideas then lists all of the stocks that meet that criteria for the morning. I do an export to Excel, and plug the stocks into my watchlist. It is fast, easy, and seems to find most of the gaps (often times more) that all of the free sources find.

I have to stress, I am using Trade-Ideas in a VERY limited way. I am probably using 1/10 of 1% of the functionality their software encompasses. I said earlier this year:

"[Trade-Ideas has] a quality product, and I have had fun experimenting with it. The bottom-line is that you can find results for just about any parameters you can imagine using their software."

I encourage you guys to try it out and see if it is a fit for you. Sign-up via this link and see what you think

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3 comments:

opwtrader@gmail.com said...

Hi,


Funny you should mention this. A while ago I started using Trade-Ideas almost the same way.

Only because I could not figure out how to get all stocks only once in the list, I used the development stuff to load the results directly in a Foxbase database and export the (unique) symbols sorted on the number of times it made a new high

I then copy the list in Tradestation and with radarscreen keep it sorted first on 15 and later on 30 minute inside bars

John Wheatcroft said...

This past week stockfetcher.com started providing a delayed intraday update for their subscribers. This is the standard 15 and 20 minute delay but I tried it a couple of times with great success.

I waited till 10 A.M. (my normal time to start looking for gaps) and asked for stocks that opened above and below the previous days close by n cents. (Two scans). You can also use percentages but I use a limited price range and my "cents" reflects a percent or two.

Now the value add of this site is that you can add as many different filtering options as you desire to the scan. E.G. - stocks below EMA 21 and above EMA 8. Stocks where the average long term volume (90 days or so) is x but short term (10 days) the volume is 2x and so on. Another one I'm going to look at is stock opens above yesterdays close and the stock's open yesterday was above the day before's close (i.e. a double or triple gap up).

I'm pretty sure that you can do these sorts of things in trade ideas but I haven't looked into that software yet.

Have a good trading week.

Jamez said...

I just stumbled onto your blog and love it! After reading your info about gappers, I quickly checked a recently discovered screener at http://www.finviz.com, which does screen for gappers by up/down %. It's fast, free and wicked fast! (especially the charts). I've used Trade-Ideas & StockFetcher too, but finviz also brings in fundamentals if needed and can view the results in about a dozen ways (charts, fundies, TA, tickers...). I think it's the only free site that does both TA & Fundies...?