5 Best Trade Ideas Scanner Settings

In this article, you will find my five favorite Trade Ideas scanner settings.

Best Trade Ideas Scanner Settings

Using Trade Ideas out of the box is simple and straightforward. In addition, traders who want to fine-tune scanner settings can modify them using over 500 trade alerts and filter types. Here are the 5 most popular Trade Ideas scanner settings to illustrate how to use the Trade Ideas scanner to find specific alerts like gaps, momentum and high relative volume.

1. Trade Ideas Gap Scanner

Gap-trading strategies belong to the most popular strategies for day trading. A price gap is the price difference between the previous close and the opening price.

For example, if a stock opens higher than the previous close, it is an up-gap, while it is a down-gap when it opens at a lower price. Trade Ideas scans over 8,000 stocks.

Gap-scan example: Show me all stocks gapping up more than 10% or gapping down more than 10%. You can modify the settings by changing the values and adding more or fewer criteria.

2. Trade Ideas Momo Scanner

A momo scanner is a momentum scanner that identifies high volatile stocks. Price volatility, in combination with high relative volume, often allows day traders to get in and out of a trade with fast trade executions and low slippage even with high share sizes.

Trade Ideas Momentum Scanner Settings

Here are the TI momentum scanner settings and scanner example results:

Trade Ideas momo scanner

3. Trade Ideas Breakout Scanner

The breakout scanner identifies stocks that break out of a specific price range. This, for example, can be a breakout through the previous day high or an opening range breakout. Here is a scanner setting to identify stocks that broke through the previous day high and the scanner example results:

Trade Ideas breakout scanner

4. Trade Ideas Bull Flag Scanner

A bull flag scanner is not directly available within TI pro, but you can define alerts and filters to archive similar results. For example, you can combine alerts like the Fibonacci 38% Buy Signal, New High or the Crossed Above Resistance alert with price pattern filters like tight consolidation in the upper half of the day range during the past 15 minutes. In that case, you see alerts for strong stocks during or near a breakthrough resistance. Here is a scanner result example:

Trade Ideas bull flag scanner

5. Trade Ideas Relative Volume Scan

The relative volume filter can be used to identify stocks with an exceptionally high relative volume, low relative volume or any other correlating volume pattern compared to a previous period. After an earnings announcement, we often see stocks gapping up or down significantly. In many cases, more than the usual average number of shares are traded on such days. The filter helps to identify such volume patterns right when they appear. For example, if news comes out during the trading day, we often see a volume spike within seconds, and TI immediately shows a trade alert if the criteria are met. Here is an example of the filter with its results:

Trade Ideas high relative volume scanner

Trade Ideas Platform Overview

The Trade Ideas stock scanner was introduced to the public 20 years ago, in 2003. Since then, Dan Mirkin and his team have innovated the platform with new key features, such as:

  • Trading strategies development and backtesting,
  • Simulated trading,
  • Brokerage API with Interactive Brokers & TD Ameritrade
  • New Trade Ideas stock scanner filters
  • Live trading room
  • Price alerts via artificial intelligence
  • Educational resources
  • Holly AI real time alerts
  • Proprietary technology based machine learning
  • Custom scans and simultaneous charts

The Trade Ideas stock scanner was always designed as a user friendly platform for beginners and experienced traders. Users can choose between the Trade Ideas Standard Plan and Trade Ideas Premium (comparison of Trade Ideas Standard vs Premium).

Trade Ideas Stock Scanner – Conclusion

Trade Ideas is a great day trading stock scanner. A Trade Ideas subscription can help day traders to find stocks with real time market data on U.S. stock exchanges. The pre-defined channels are a good starting point for retail investors, but it is also possible to define each stock scanning criteria by yourself. The robo trading and Holly AI features, with up to ten simultaneous charts with technical indicators, are a good addition for more experienced investors.

Alexander Voigt, CEO
Article by
Alexander Voigt is the founder of DayTradingZ, was a regular contributor to Benzinga and has been featured and quoted on leading financial websites such as Investors.com, Capital.com, Business Insider and Forbes.
Last Updated:
We may receive a commission if you click on links.