Using Custom Scripts In Your Stock Scanner – Dollar Volume (Millions)

Okay, so our goal is to take a plotted value from a custom script and repurpose it for Stock Scanning. In this example we’ll begin with the code used for plotting Dollar Volume ( Plotted in Millions ) from our Resources page. All the code required for this tutorial will be pasted below.

As is, the script currently has extra bits of code for plotting values beneath a chart. For simplicity, we’ll reduce the code to it’s most basic components.

input offset = .000001;

plot million = Round(((volume * close) * offset),2);

Note the offset value. What this does is offset our decimal place over 6 zeros so that $1 Million == 1 in Dollar Volume, and $1 Billion == 1,000. We calculate dollar volume by multiplying volume * close followed by the offset.  Then we enclose the calculation by applying the Round(a,b)function. Were a represents the calculation, and b represents the decimal place to which you would like to round. When trading Large and Mega Cap stocks it can be beneficial to alter your unit of measurement to accommodate larger values. However, if you are instead using this for Small & Micro Cap Stocks, you may want to consider changing the offset value to a 1 for more granularity.

The First Part

1. Go to Chart Tab

2. Click on Studies

3. Scroll down to Edit Studies

4. Click Create from the bottom left

5. Delete NewStudy0 title and rename to DollarVolume, Millions, or whatever you’d prefer.

6. Paste the following code

input offset = .000001;

plot million = Round(((volume * close) * offset),2);

7. Click Ok and the window should close.

8. Tap Apply on the next page.

9. Optional- You can actually delete Dollar Volume from this screen by clicking the ‘X’ besides the Gear Icon. This screen is just for plotting scripts. But remember we cut out all the fancy stuff for plotting so as it is, these two lines of code aren’t enough to display anything on the chart. You’d have to use the full script as it’s posted on the Resources page for it to display properly.

The 2nd Part

10. Go to the Scan Tab-> Stock Hacker

11. Click Add Study Filter

12. Click the Pencil Icon at the far right

13. Delete ADX Crossover or whatever appears.

14. Click Add Condition

15. In the Select a Condition Drop Down select -> Study

16. Type in Dollar Volume or whatever you named it earlier. Select the Study.

17. A Menu should appear on the right.

18. From here you can select any parameters you’d like. As an example I’ll select -> Is Greater Than

19. On the right there’s another Condition Drop Down. Select -> Value 20. It should default to 100 i.e $100,000,000.

20. Click Save. Note at at the top there is a large ‘D’ as in Daily. You can click on this and edit the time frame you’d to scan for.

And that should be it. I know the standard process for using custom scripts in your scanner is a bit lengthy. But with time, I assure you, this process will become second nature as you become familiar with it! Let me know if this works for you!

New Years Watch List Tech | Banks | Oil | Crypto and More!

Happy 2018 everyone! May you have an awesome year of investing to come. There’s a few things we can summarize of what’s happened in the last quarter leading up to the new year. The financial markets have shown incredible volatility across many sectors. It’s important to note that volatility is synonymous with opportunity. There’s certainly much less opportunity in the markets when things are trading sideways, or barely moving at all. So let’s be grateful for that, eh? The markets remain interesting for now.

And thus we can recap some interesting current events. Let’s begin by talking about tech/software/hardware stocks. Many big names like NVDA, AAPL, MU, AMD are trading just below their all time highs after recent retracements. So the play here is to figure out if these stocks will continue to descend in the first quarter of the new year, or if traders will soon catch on that it’s rather unlikely these stocks will stay below their all time highs for much longer. Which leads one to ask if now may be a good time to be taking long positions in the tech sector.

Conversely, across the oil sector with stocks like CVX and VLO you’ll find that these are trading at or near their all time highs. This could be the time to jump on the trend or it could be the time to start selling some shares. As always there’s many factors to consider in oil commodities and their ties to production and profit. As such it’s a notable current event and whichever side you take be sure to proceed with caution.

Much the same could be said about the banking industry as a few of them are also trading at all time highs or have shown significant growth as they’ve bounced back from their lowest point back in ’09. A few honorable mentions certainly include BAC, C, COF, JPM, and WFC. Again, one must ask how long is this trend to persist? What would have to occur for these stocks to reverse in the other direction? It’s possible that such monoliths will continue to bounce back stronger than ever. In which case it might be wise to not ignore the signs.

Another major event that’s occured recently has been Bitcoin hitting $20K and subsequently tumbling to sub $14K. For many who stood idly by watching this utter monstrosity occur it may signal the best time to finally jump aboard the hype train that has enveloped the crypto currency world. Or at the very least begin to take crypto assets seriously. Just as many of the large players have been urging those outside the circle for years now. Although, it must be said that even if you feel that metaphorical boat has sailed, there are certainly other opportunities in the crypto world that one might consider. For instance, Litecoin, XRP, Monero, and Ether are certainly worth taking a look at.

Lastly, I want to leave you with the typical weekly watch list of highly volatile stocks that happen to come across my scanner. They are… ATRA, GCAP, OSTK, RIOT, ROKU, TIVO, TWMJF, VRX, and WATT.

That about sums it up for now… I want to take the time to thank you for reading this post and wish you all the best year to come!

Watch List 12/11/17

Last week we saw consolidation in many sectors and I hope you took advantage of dip buying your favorite stocks. This week we’ll see how far these stocks rebound or if they continue downwardss. Another notable event was Bitcoin crossing $16K. This is relevant because some small cap stocks this week are related to crypto currencies.

Large Cap:

GBTC, JUNO, ONCE, OSTK, QD, RIOT, ROKU, SQ, XNET, TWTR

Small Cap:

BTSC, DPW, GROW, MARA, SRAX, PXS, NETE,

Watch List 11/28/17

Stocks have taken a large tumble this week while the broader market has continued to rise. It could be that there is a good dip buying opportunity to be taken advantage of as many companies have receded 10% or more from their recent highs. This weeks large cap watch list will include many of these stocks that have come down. Let’s begin : )

Large Cap: 

AMWD, EGBN, GBTC, MOMO, OSTK, QD, ROKU, SQ, XNET, MU, ADSK, AMGN, COST, NVDA, AMD

 Small Cap

ACBFF, BTSC, DPW, MARA, OHRP, PXS, SRAX

Small Cap & Large Cap Watch List 11/21/17

Earnings season is winding down and that means traders will be looking elsewhere for highly volatile plays. That’s what this week’s watchlist is here to provide. A list of highly volatile, liquid stocks to trade in both small and large cap categories.

Let’s  begin : )

Small Cap:

OPHC, EKSO, SRAX, SGYP, ACBFF, MARK, TOUR, ACST, DRYS

Large Cap: 

XNET, ROKU, BITA, OSTK, HTZ, WLL, YY, NKTR, TEVA

 

Earnings Watch List October 30th

Confirmed earnings schedule for the week of October 30th is listed below. Among the most highly anticipated events will be Master Card, Shopify, Gopro, Apple, Alibaba, and Pandora.

Monday: D

Tuesday: MA, SHOP

Wednesday: AGN, GPRO, GXP

Thursday: AAPL, BABA, CC, EXC, P, TEVA

Friday: DUK