How To Set Up Scanner Thinkorswim

So you lot're ready to notice that next groovy investment? Well you're on the mode there simply viewing this post. Far to often I hear about traders jumping onto that hot stock everyone'south talking well-nigh only to accept it autumn soon afterwards. I know this, because that use to be me! Certainly painful to scout money just disappear. However, there is a much better way and its built right inside the platform you're likely already using. Yes, the ThinkorSwim scanner can browse the universe of stocks, etfs, futures, options, or even specific options spreads. All yous have to do is know what yous want and know how to implement it within the platform. This post will assist you with the later and I'll show you a few secrets I've learned over the years.

First things Kickoff

Yous must accept a TD Amertrade Business relationship. If you don't simply click that link and head over to open up an business relationship free of charge. I've been with them for years and have never had i complaint. I have all the same, had hundreds of questions and their client service or trade desk squad has been willing to respond all of them. No thing how giddy the question. One time you have an business relationship setup (funded or non) and your inside, hover over "Trade" and under the "Trading Platforms" heading select ThinkorSwim to download the platform.

How to Download Thinkorswim from TDAmeritrade Business relationship

Down To Business organisation – ThinkorSwim Scanner Settings

With ThinkorSwim opened on your calculator navigate to the "Scan" tab in the summit most ribbon. The ThinkorSwim scanner volition save y'all valuable time finding an investment vehicle worthy of your precious uppercase. With the scanner open lets discuss some full general criteria I think would be useful for any scan. Without knowing your specific goals or experience information technology would be incommunicable to create a scan capable of meeting your needs exactly. So, for the sake of this post I'll create a scan I believe will return a viable long term investment opportunity.

I'll set the ThinkorSwim scanner settings to the post-obit; (See Image below)

1. Last Toll – Under 50$ per share
2. EPS – Positive Earnings per share
3. Dividend Yield (Current) – 7% Dividend Yield
4. Positive Free Greenbacks Flow
5. Free Greenbacks Flow Per Share (YoY% Annual) – Positive Costless Cash Flow
6. Average Book – In a higher place 1 million Average book

Step one – Select Scanner Criteria

Now that nosotros've identified what we want Thinkorswim to scan for lets plug it into the appropriate field. I've listed the criteria merely in a higher place so I won't restate it hither. Just navigate to the "Add Filter" menu to the far right of the screen. To business relationship for the five criteria we wish to apply select the post-obit, in this order. Stock, Stock, Fundamental, Fundamental, Study.

Add together the above aspect using the "Add Filter" drop down menu.

Step two – Enter Specific Criteria

1. In the kickoff "Stock" field select "Last" from the drop down menu. Then movement beyond to the "max:" cell and enter $50.
2. In the adjacent "Stock" field select "EPS" from the drop down. In the "min:" cell and enter 1
3. In the first "Fundam." field select "Dividend Yield". In the neighboring drop downwards select "Current". In the "min:" cell enter seven
4. In the side by side "Fundam." field select "Free Cash Menses Per share". In the neighboring drop down select "YoY%(Annual)". In the "min:" cell enter i.
5. In the final "Study" field select "Average_Volume". Enter the criteria to match the following; The "200" period "Uncomplicated" moving average of the Volume is "greater than" "1000000" – Day Setting (Located to far right of this field, notated by uppercase "D")
6. Click the green Browse button.

That's all there is to information technology! Nosotros've only scanned thousands of stocks to find a select list of companies capable of coming together the criteria you've determined, or more appropriately in this case, I determined. In any example, we tin at present begin to evaluate the companies listed for a proper fit inside our portfolio.

Your screen should look like the image below. You'll notice I've already selected the criteria discussed higher up and adjusted the scanner settings to filter for the desired data.

ThinkorSwim Scanner Settings

Step 3 – Evaluate Scan Results

Now that we've found a listing of stocks that friction match our unique criteria we can kickoff to drill down to the perfect lucifer for our portfolio. The easiest mode to do that is to click the heart hamburger carte at the top right of the screen and select "Save browse query". Give it a name you'll remember. One time saved we can view our list of selected stocks from a watchlist. What's more than, the list will forever update in that watchlist as companies motility in and out of our selected scan criteria.

How to save the ThinkorSwim browse criteria

Well that about sums information technology upwards! We've but walked through creating our first scan and saving it to be viewed in a watchlist for abiding review.

The logical next step would be to open the watchlist in the left pane quick view expanse. To do that, navigate to the "+" simple at the lesser left of the screen and select "Watchlist". Select the top (of that pane) drop downwards menu, hover over personal, and select the proper name you lot entered when saving the scan. Now, Select the link icon just to the right and attribute a specific color to the listing. Finally, navigate to the "Charts" tab located in the acme most ribbon. Just next to the field you would typically enter a ticker symbol click the link icon and select the color y'all set for the watchlist. That will allow yous to chop-chop click on each of the stocks and view their chart or any of the wealth of data within ThinkorSwim.

For a quick view at the steps above these images should aid.

Add together Watchlist in ThinkorSwim

Select the appropriate ThinkorSwim Scanner Watchlist

Select a color attribute to link to other areas of ThinkorSwim

Select Charts, then suspend the selected color

ThinkorSwim Scanner – Swing Trade Criteria

Then you lot've tackled your first scan only that's but non going to be plenty, is it? After viewing the list of companies higher up you've decided you'll demand more action right now! Thus, the thought of using the scanner to find potential swing trading candidates becomes more appealing. To practise that here is a quick listing of criteria I've used to do just that throughout my ain trading career.

Again, without knowing your specific level of noesis or run a risk tolerance the following is just what I've used and isn't intended to be investment advice. You should Always do your own enquiry and consult qualified professional prior to trading or investing.

ThinkorSwim Swing Trading Browse Criteria

1. Stock – "Last" – Min= "Blank" – Max = $fifty
2. Stock – "Volume" – Min = 300,000 – Max = "Blank"
3. Stock – "% Alter" – Min = "-1%" – Max = "Bare"
4. Stock – "Shares" – Min = "Blank" – Max = "300,000"

Swing Trade Scanner Criteria for ThinkorSwim

There yous have it, a quick list of stocks with low float and the ability to move quickly in the correct marketplace surroundings. That all the same non enough? Perhaps at present you're ready for 24-hour interval trading. Let'south take a look below at scanning ThinkorSwim for gapping stocks.

ThinkorSwim Gap Scanner Criteria

Disclaimer: Always practice your own research prior to trading or investing. The following is not a solicitation to buy or sell whatsoever security or place any trade. This scan isn't intended to qualify you for day trading.

ThinkorSwim Day Trading Scan – Gap Up Criteria

This scan works best when used just earlier market open. During the pre market trading period.

1. Stock – "Final" – Min: "$50" – Max: "$10000"
2. Stock – "Volume" – Min: "10000000" – Max: "200000000"
3. Written report – "Price_Change" "Shut" is at least "4.0" % "greater" than "i" bars agone – Daily chart setting

How to Scan with ThinkorSwim for Gapping Stocks

Determination

Alright, you're officially a ThinkorSwim Scanner, level – Expert! Only kidding, you lot'll likely accept much more to acquire in club to take full advantage of this tool within the platform. Learning the steps discussed here is just the first pace to finding more and more accurate scans, capable of meeting every different trading demand. With the ability to scan the unabridged investment universe in a few mouse clicks it nigh seems to like shooting fish in a barrel to be truthful.

In reality, the more than you study and the more time you spend assessing the financial markets, the more your skills volition be refined and the more authentic your scans will go. Matching what you encounter happening in the existent earth with what the charts are showing will help you generate some questions to ask yourself when you sit down down to make your next browse.

Tools to take your Trading to the Next Level

Now that you're a ThinkorSwim Scanning skilful. The next step is to accurately rail and monitor each and every merchandise to go on your growth equally a trader or investor. To do that fast and without the recurring accuse of other platforms. Take a expect at this one of a kind tool designed to proceed you up to engagement on everything happening within your trading accounts.

Source: https://optionboxer.com/thinkorswim-scanner-guide-to-building-your-first-scan/

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