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How Stock Scanner Help Us
Most top traders monitor a list of 300 or more stocks on a daily basis. Entering that many symbols in the charting software of a web site and waiting for the charts to load would take far too much time. To address this problem, we have Stock-Scanner. It is possible to accomplish essentially the same thing as a daily review of 300 stocks by using Stock-Scanner and following the recommended procedure.
Stock-Scanner provides charts for 300 stocks that are updated weekly. It consists of 10 “pages” with 30 charts on each page. When the Stock-Scanner page is opened, all 300 stocks are available simultaneously for scanning. The charts are identical in format to the 60 charts displayed free on the Stock Scanner page of the Web site which are actually two of the 10 “pages” included in Stock-Scanner. Each chart covers about 9 months, shows Bollinger Bands placed at 2 standard deviations, and displays the 50-day moving average of the stock. The stock charts do not display a lot of detail because that is not necessary to the purpose of a “scanner.” Simplicity is what makes it possible to cover so many charts quickly and with minimal chance of computer “freeze-up.” Because some stocks have long names, a table is provided below the charts that lists the names and symbols of all the stocks covered.
Stock scans are easy to write and absolutely essential to swing trading. For day trading and swing trading, you have to be able to run scans! This is a compiled a list of some of the best charting and scanning services on the net.
1.MadScan.com - This service is a charting, scanning, and trading system all in one. It scans the market for you based on their "Trade Triangle and Smart Scan" technology. It then identifies on a chart when to go long or short.
2.StockCharts:- You won't get a lot of bells and whistles with StockCharts. If that is what you are looking for, then you will be disappointed. If you want a simple charting and scanning solution, then you will be pleased with their service.
3.StockFetcher:-This has released its 2.0 version of its standard screening and charting interface. It sports a nice clean charting platform with scanning capabilities. No software to download.
4.TeleChart:-This is a popular software program among traders. The unique thing about TeleChart is that it "automatically maintains a highly-indexed, massive stock market data bank locally on your hard drive". This makes scanning for stocks a lot faster than getting the data from a website
5.Amibroker:- This is a comprehensive technical analysis program, allowing you to study and predict trends in the market and to maintain a portfolio of shares. It incorporates a powerful set of technical analysis tools, OLE Automation/ARexx interface with rich command set and several options for quotation data import. The great thing about Amibroker is you only have to pay a onetime fee for the software.
6.Trade Ideas:-This is a real time streaming stock alerts and stock scanner . Although is service is mostly for day traders, there are some useful free scans that you can run off of the daily chart. These include: volatility, moving averages, consecutive up/down days, and consolidations.
7.ChartFilter: - This is one of the largest free technical analysis websites on the net. With a simple sign up process, you get a customizable stock screener, screening strategies, and technical charting.
Which one is right for me?
It would be impossible for to. It all depends on your personal preference and the type of trader that you are. Best advice? All of these scanning and charting services offer free trials. Sign up for one and try it out. Then you will be able to make the best decision.
About the Author
Author writes content about stock alerts, stock scanners and realtime stock alerts . For more information visit at: http://www.madscan.com