The following TC2000 swing trade scan helps to start the party! It’s a swing scan that can be ran weekly or daily to find stocks on the move. I was recently introduced to the website barchart.com. They have a really nice scan called called Volume Advances.
Their scan looks for stocks with usually high trading volume. As you know, volume is key to any good trade. By looking through this scan you’ll able to find heavy traded stocks in an up trend or about to reverse.
I prefer using TC2000 and thought it’d be nice to convert their scan. After a little bit of searching around I found the right formulas! I even improved on the scan IMO by removing all stocks that traded less than 100,000 shares in the last trading session.
TC2000 Swing Trade Scan
To add this scanner in TC2000 you’ll need to start by creating a new Personal Criteria Formula. Click on New > Condition (PCF) Formula.
Name the PCF something like Volume Above its own SMA50 then paste the following code and click OK.
V > AVGV50
Next we’ll need to create another Personal Criteria Formula. Repeat the steps above and name the second PCF something like Volume/SMA50 % Difference then paste the following code and click OK.
100 * V / AVGV50 – 100
We’ll then need to create a new EasyScan. Click on New > EasyScan.
US Common Stocks
Price History < 10 – Daily (your preference here)
Latest Float (between 0.00 and 100000.00 – Daily
Volume > 100000 – Daily
Volume Above its own SMA50 is True – Daily
When done click on Scan to get a full list of stocks that meet this criteria.
The last step is to add the new Volume/SMA50 % Difference condition as a column to sort by. Click the Plus button and select Volume/SMA50 % Difference.
In the end your scanner should look something like this.
If you compare this scan to Volume Advances on barchart.com you’ll find they mirror each other. A scan like this one is great for finding stocks in support/resistance areas that are about to change direction and strong stocks with momentum on the rise!