Original Question: How to find quiet and tight setups in real-time without the hassle of actively screening.
Finviz ELITE provides you with real time quotes; a real time screener with 10s autoupdate (2) and a awesome screener alert (3).
The alert allows you to create a quiet and tight screen by using the relative volume (1) and distance to 20, 50 and 200d SMA. Once a ticker fullfils this criteria intraday you get a notification.
The “create alert” link opens a popup which allows you to copy & paste the screening criteria in string form. The currently activated screener is linked already when you click on “create alert”.
Her is my IPO quiet and tight screen. This is a stricter version but I also screen wider without the MA constraints.
v=151&f=cap_smallover,ipodate_prevyear,sh_avgvol_o100,sh_price_o7,sh_relvol_0.1to0.35,ta_sma20_sa50,ta_sma200_pa,ta_sma50_pa&ft=4&o=relativevolumeSome parameter are only available in the ELITE subscription. So you have to adjust it slightly if you are only using their free service.
The relative volume figure becomes more reliable over the course of the day as it has to do less guessing. Therefore it is much more reliable to run your normal quiet & tight screen once early in the session and then another time 2 to 3 hours before the close. After running the screener a second time you set the alert in order to get a notification once a stock sees a sudden volume dry-up in the second half of the trading session. But you can also just launch the alert sooner. This FINVIZ ELITE feature is not an exact science but a very potent tool for easily finding those high probability setups in real time with little effort.
Finviz is dirt cheap for the efficiency it provides and many Thweis followers already joined their service. I use it for many years now and I used to have MarketSmith and HGSI memberships running during my first half decade in the markets. The real time speed of finviz allows me to have the chart reading throughput/capacity needed to find ideas in realtime. They don’t have a modern mobile app but that is only a minor drawback. So charting is best done on the desktop. The screener alert however can be used from mobile without problems.
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