What are HotScans?
HotScans is an easy to use, yet powerful dynamic tool that allows you to
visually scan the market throughout the day in real time to find hot stocks, weak stocks, and
heavily traded stocks. It helps you find trades throughout the day no matter what
your trading style is. You can perform scans for up to three time periods at once such as the
last 5 minutes of trading, the previous 20 minutes, and the Full Day. And, you can choose from a variety of preset scans
such as stocks that are Rallying Now, Falling Now, experiencing Big Volume Now, Dead Cat Bounces, Intra-day Reversals,
or choose your own criteria.
What makes HotSpots Scans Unique?
MarketGauge's unique "Dual Gauge" technology instantly displays the convergence
of price and volume allowing you to easily see if a stock is up on big volume or
down on big volume. The volume gauge measures relative volume for the time
periods you are looking at. So, for example, you can easily see stocks that are rallying
now on big volume over the last 20 minutes. Most importantly, with HotScans you can view multiple time
periods together, and see how stocks are performing on both a price and volume
basis for, say, the last 5 minutes, the previous 20 minutes, and for the day all at
once.
How can it help me find trades throughout the day?
With HotScans, you have the choice of using preset scans or manually setting the filters. It only
takes a second. There are three time periods that are scanable: the main time period which you select, a
preceding time period which you also select, and an optional Full Day period. There are many strategies
that you can use. If you are looking
for a fresh rally, for example, select the "Rallying Now" preset scan. This will show you stocks that
are moving up in the last 5
minutes. Pick a stock that is up for the day and showing a strong price and volume increase in the
last 5 minutes. But how do you insure that this stock, which is up for the day, is beginning a fresh rally?
It's easy. To do so "Select Previous Period" of say, 30 minutes. Then click on "Advanced
Filters" and set the percent price change of the Previous Period to be less than zero. Additionally, set the Current Day percent price
change to be greater than zero. Then click on the Daily Gauge box to display daily gauges. Now "Run Scan".
The results will now show you stocks that are up for the day, rallying in the last 5 minutes but were down
in the previous 30 minutes. In other words, they are experiencing a fresh rally. After running the scan,
select the stocks with the strongest price and volume indicators and you have a trade. If you are looking for a stock
that is driving the market, then set the relative volume filter for "Greater than, say, 400%". This will insure the
scan will bring up stocks that are trading with much more than their normal volume for that time period.
There are many types of trades you can find with HotScans. For example, you can:
Find high momentum (price movement & huge relative volume) trades for maximum profit
Find stocks that are following through or reversing
Find dead-cat bounces throughout the day
Find the strongest rallies throughout the day and at the close
Find the stocks most likely to gap at the next day's open
How do I use the Price and Volume Gauges?
The price and volume gauges together provide you with the ability to easily see
whether a stock is moving up or down on heavy or low relative volume.
HotScans is based on the fundamental principle that
Price Change + Volume Percent Change = Momentum. The price and volume gauges allow you to easily spot momentum.
Green
is up; Red is down. The number of bars represents the magnitude of the change
in price or volume. For example, if Cisco (CSCO) is showing 5 Green Price Bars
and 5 Green Volume Bars, then the stock is moving upward on very heavy volume.
The volume gauge is based on a 30 day moving average. It measures a stock's relative volume at that time of day. For example, if a stock normally trades 300,000 shares by noon and today
it is trading 600,000 shares at noon, then its relative volume is up 100% for the day. These easy to read gauges are crucial for intra-day traders. They
help you to easily spot price and relative volume movement for different buckets of time
(ex. 5 minutes).
Can I monitor multiple time periods at once?
Yes. Up to three time periods can be viewed together so that, for example, you can look
at the last 5 minutes and the previous 20 minutes together with the
price and volume activity for the Full Day, all in the same view.
Can I scan on Volume Leaders for various time intervals?
Yes. With HotScans you can scan for volume leaders over the last 5 minutes,
10, minutes, 15 minutes, 20 minutes, 30 minutes, 60 minutes, 90 minutes,
or since the opening.
Can I monitor stocks from the opening as well as throughout the day?
Yes. To do so, choose "Since Opening" as your time period either for your primary scan period or
previous scan period. Doing so, will provide results from a stock's opening price.
HotScans also allows you to view price and volume movement for the
Full Day (since yesterday's close) for the stocks that have qualified in your primary scan results. To see this,
click the Daily Gauges box and then Run Scan. The
results for the Full Day will be displayed before any other time periods.
Can I select stocks by Industry Group or Sector?
Yes. All stocks can be filtered by Industry Group or Sector. There are 12 economic
sectors and 102 industry groups to filter by. You can see what sectors and
industry groups are leading and lagging today in the HotSpots Report of our full
MarketGauge product.
What other filters can I use to scan the market?
You can filter on Price, Today’s Volume, Daily Average Volume, Exchange, and Market Capitalization.
What are Advanced Filters?
Advanced filters allows you to set parameters to filter on for price and volume changes for up to three time
periods (The Primary Scan Period, the Previous Scan Period, and the Current Day). The Percent Price Change can be greater than or less than any
percent you specify. Relative Volume can also be set to be greater or less than any percent
you desire. If you don’t care to use a particular filter just leave that box as Not Filtered.
There are three time periods you can specify. The Scan Period is your primary time frame.
The Previous Period represents the time frame just previous of your primary time frame.
Current Day represents the full trading day from yesterday's close.
How are the tables sorted?
The results of a scan are sorted based upon the type of scan you choose. So, if you
choose stocks Rallying Now for the last 20 minutes, you will see the top 25 stocks sorted
by price performance over the last 20 minutes. If you choose Big Volume Now, the table
will be sorted by largest to smallest volume leaders over that time period.
What is a Pop Out?
The Pop Out option creates another window with the results of your scan that you
can place anywhere on your computer screen to save space. Your scan will be continuously updated with the auto
refresh option (ex. every 5 minutes). Then you can perform additional scans and pop them out as well. This
way you can easily generate ideas for multiple strategies.
Does the data automatically refresh or stream?
The data in the results of a scan does not stream, but it is in real time. It does,
however, automatically refresh in real time on your screen. You can set the auto refresh
to be every 1 minute, 2 minutes, 3 minutes, 5 minutes, 10 minutes, or never. The default is every 5 minutes.
Can I save my Default Settings?
All settings such as Market Cap, Exchange, Industry Group, Auto Refresh time, minimum
and maximum Price, etc can be saved so that you can perform future scans with the same
settings.
How can I track which Industry Groups and Sectors are leading and
lagging the market?
The Full MarketGauge service allows you to instantly analyze sector and
group performance and find the stocks that are driving these groups up or
down. You can also track multiple watch lists with our portfolio feature, easily
compare companies to their peers, access company reports, and track 37 key
Market Indicators to get an overall view of the market with our Macro-Analysis
tool.
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