Scanner Is Live
Good morning everyone. As you know over the last 2 months I’ve rolled out lots of new features to the database and this morning I’m releasing my scanner. I didn’t want to overwhelm with everything at once but I felt it was time to release a tool I used for a long time when I was more actively trading. It can help you find strong setups and names making key technical moves. I’m going to go over all the functionality in this post. You can find the scanner on the menu bar at the top of the database
First off you will see the top 5 names. Now you might be asking what I’m scanning for and I could have hid this because I know alot of these other people lacking creativity out there will instantly copy it, but I don’t even care, it’s about education and you understanding what I look for when scanning for momentum. On the FAQ page there is a glossary of all the terms you will see but basically I’m looking for 12 things and ranking names based on that.
The score reflects how many of the 12 things I look for align. I scan all market caps and you can see on the side small, mid, large. So if you want to only stick to large caps on the list, you can absolutely do that.
Below the top 5 you will see all of the names that met the criteria, you can click through to the pages of all these names and see the thesis and option flow. If I haven’t logged any unusual options activity there will be nothing. The thesis is only generated on names after I log trades. Are these guaranteed to work? Absolutely not, there are false breakouts all the time, but the key is seeing where the strength is so you can focus on it. Maybe you sell puts on these names, maybe you swing commons, buy calls, there are so many ways to trade things but being in the right name is always step 1. These are all beautiful setups.
The signals tab is going to be where you will find alot more information on what names you want to focus on. When you click it you will see multiple timeframes to choose from: daily, weekly,monthly.
With this you can have a quick filter to what names are seeing bullish crossovers, bearish crossovers, golden crosses, death crosses, etc. You can also see what names are overbought and oversold or what names are hitting new 52 week highs or lows. Obviously this is nothing groundbreaking but these are scans that are important and I’ve always used so I wanted them all inside the app so you’re not having to run scans in your brokerage and flip back and forth to this app. I want this database to be a a 1 stop shop for everything relevant to trading and now you’ve got scanners, option flow, charts, ai generated trades, and more all in one place. Trust me, I’m not done yet.
What you will see with each option is the day the crossover occurred. As you can see below the bullish crossovers are green and the bearish crossovers are red. You simply click a name and go straight to the page and see all the option flow that has been logged. Again this is all just there to help you know what names to focus on and what to avoid.
As with everything market wise, the longer the timeframe the more relevant the crossover is. A golden cross on a weekly chart is always going to be more key to a longer term move. Take INTC which was my biggest position back in March, aside from all the option flow that was coming that way you’ll notice it got a golden cross at the same time. The 50 week crossed over the 200 week, where I highlighted below, and sure enough the stock tripled in no time. Now does that happen on every golden cross, no, but it is usually a sign you’re about to see some strength in a name. If you’re seeing a golden cross and can look at the option flow I’ve logged, if the 2 overlap, you might be onto something special.
If you click weekly, you will notice that at this moment these are the weekly golden crosses the scanner has found since we began working on it a few weeks back. Some names run hard right away, some don’t. The reason these scans are important is because momentum has finally flipped into the favor of bulls, the same way a death cross tells you the bears are in control of a name.
There’s many more things I will be adding to this scanner in the coming weeks/months but I just wanted to get out a simple version for you to begin to get accustomed to before I release deeper scans. I hope you all have a great rest of your weekend and I will see you monday.