Our #scans channel found under the premium ideas tab is a great resource for our members to study intra-day sector rotations as well as find actionable tickers for scalps and swings. This channel is designed to help our members sift through the noise of the market and find the best possible setups. Let’s dig a little deeper into some of our favorite scanners and how to use them.
Sectors and Heatmap
The sector and heatmap scans are run multiple times throughout the day. This scanner shows the specific sectors within the market that have the most inflow and outflow, as well as the relative volume of these flows. Comparing these lists throughout the day shows us where money is moving to and from and allows us to best position ourselves for the next handful of trading days. Let’s examine some ways to use this scanner as an actionable signal. As we can see in the image below we have $SMH at the top of the list and the column titled %RelVol shows us this ETF has 108% of relative volume, which tells us there is above average interest in purchasing this ETF.
We can make this scan actionable in a couple of ways. The first and simplest way would be joining in on the inflow and taking a long position in the same ETF, but sometimes the better setups are not in the ETF but instead in the underlyings of the ETF. If we are unfamiliar with the ETF we can use some simple functions in our #bot-commands room to help! The first command we can use is $search <name of etf>. This command will run a quick google search on the ETF to give us the name and explanation. If we run the $search SMH command we will learn that $SMH is the VanEck Semiconductor ETF. Our next step will be using the function $etf <name of etf>. This command gives us the top ten holdings as well as their weightings. With these quick scans and searches, it is easy to find individual tickers that have great setups and relative strength!
The Omega Scanner
The Omega Scanner is the only scanner you will ever need. This is an end-of-day scanner to create watch lists for the next day/week. What is unique about this scanner is it is designed to catch the pop before it happens. This is an early beta version and is continuing to improve week over week. We hope to make it the best scanner ever made. Actionable, profitable, and high rate of success is what this scanner provides.
Low Float HRV (High Relative Volume)
This scanner is great for finding inexpensive stocks that have huge inflow interests on that day. The top tickers on this scanner are generally highly actionable off the opening bell. If you like penny stocks and quick trading this is the scanner for you.
The 20EMA Pullback scanners give us a list of tickers that have pulled back to their 20-day exponential moving average. When stocks pull back to their 20EMA we generally see heavy buying pressure come in resulting in a large bounce or continued selling. By coupling this scanner with the relative volume column we can quickly and easily find actionable intra-day scalps and swing candidates.