BEST Swing Trade Scanner- ThinkOrSwim

Hey guys, welcome back to another episode of Stock Talk! In today's video, I will share with you the filters and criteria I use to find the best stock setups that fit my personal trading style. Using the TD Ameritrade ThinkOrSwim platform, I will walk you through the process of setting up a swing trade scanner to identify potential stock trades.

I start by filtering stocks based on price, typically ranging from $ 5 to $ 60 to ensure I can comfortably trade a good amount of shares. Next, I look for stocks with a minimum volume of 500,000 to ensure liquidity. Then, I use the Relative Strength Index (RSI) with a length of 14 to identify stocks with an RSI less than 50, indicating they are not overextended. Lastly, I apply the Moving Average scan, looking for stocks that are at least 10 percent below the 20-period exponential moving average. This combination of filters helps me find stocks that are potentially good candidates for swing trades.

If you are interested in learning more about swing trading setups and strategies, check out the link in the show notes for additional information about our trading team. And if you enjoy content like this, don't forget to like and subscribe for more!

Keywords

Swing trading
Stock scanning criteria
TD Ameritrade ThinkOrSwim
Relative Strength Index (RSI)
Moving Average scan

FAQ

What price range do you typically look for when scanning for stocks?

I usually look for stocks priced between $ 5 to $ 60 to ensure I can trade a good amount of shares comfortably.

Why do you set a minimum volume requirement when filtering stocks?

Setting a minimum volume requirement, like 500,000, ensures that the stocks are actively traded and liquid, making it easier to enter and exit positions at decent prices.

How do you use the Relative Strength Index (RSI) in your stock scanning process?

I use the RSI with a length of 14 to identify stocks with an RSI less than 50, indicating that they are not overextended and might be good candidates for swing trades.