Volume Scan for 1-min bars over 8,000


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Hi Pete!

I’m trying to create a custom study to add to a preexisting scanner to hopefully later get alerts when this new condition is met.

So, I’d like to get alerts when any of the stocks that the scan gets has a 1-min bar above 8,000 in volume.  The idea is to try to catch stocks that start moving with higher volume in premarket.

I’ve been trying to use the “if/then” conditions but I really can’t make it work.

Also, I tried to add it as a custom study to the preexisting scan but it doesn’t seem to work.

How should I setup the alerts?

Thanks so much!

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Posted by (Questions: 6, Answers: 21)
Asked on April 8, 2020 12:10 pm
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This scan can be very simply created with just a few clicks of the mouse using the Condition Wizard. Check the free tutorial for examples of constructing various scans:

https://www.hahn-tech.com/thinkorswim-condition-wizard/

When creating this scan using the Condition Wizard it takes just a few clicks of the mouse and produces the following statement:

volume is greater than 8000

Perhaps you are leaving out some important details that might explain why such a simple scan as this does not match what you are trying to achieve? Or you may just be overthinking the solution.

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Posted by (Questions: 37, Answers: 4087)
Answered on April 8, 2020 1:36 pm
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Hi Pete, Thanks for your answer. Here you can see that the condition wizard won't allow to use a normal Volume study. How should I add the volume? https://ibb.co/LxgZskD
( at April 8, 2020 1:53 pm)
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Did you watch the video I linked in my answer? Based on your screenshot and the question you have it's clear that viewing this video will really expand your understanding and help you get the most from this tool. Hint: You don't add Volume as a study, you add it as a Price. Watch the video. Honest, I will not waste any of your time. In fact I am sure that the time you save after watching the video will be many times more than the time it takes to view it.
( at April 8, 2020 2:06 pm)
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I was trying to create it while watching it. Will keep trying! Thanks!
( at April 8, 2020 2:25 pm)
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Hi Pete! I wanted to try the scanner to see if it worked before making new comments. And it doesn't seem to be working. I've been trying it for two days now. It should already have given me some results in premarket today, but it didn't. I not only included the condition for volume over 8000 for a 1-min bar. I also tried to modify this scanner here and adapt it to scan for 3 consecutive 1-minute bars of 2% increase compared to the previous one: https://www.hahn-tech.com/ans/scan-for-three-consecutive-days-of-two-percent-daily-gain/  So, the scanner should be looking for both conditions: A stock making more than 8000 in volume per 1-min bar and making consecutive price increases of more than 2% per 1-min bar. This is what I did: volume is greater than 8000 and close is greater than close from 1 bars ago * 1.02 and close from 1 bars ago is greater than close from 2 bars ago * 1.02 and close from 2 bars ago is greater than close from 3 bars ago * 1.02 However, it's not giving me any results at all!
( at April 13, 2020 5:02 am)
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There is nothing in the code that forces it to work in premarket.

The only way to get a scan to work for premarket hours is to check the box for "EXT" next to where you set the time frame for the study filter. If you have ensured that box is already checked then break the code down into is smallest components and test each element of the scan separately until you find out which portion is causing the failure.

I never have charts open before markets open so I can't test this myself. But this is the way it has always worked in the past. But if it were me and I wanted to test this with 100% certainty I would run the following scan:

volume is greater than 0

Got it? Troubleshooting techniques like this are common tools for developers. Reduce every element to the very minimum and if it still doesn't work the problem is further upstream (meaning if volume greater than zero fails to work you need to contact TDA support because their tool is broken).

( at April 13, 2020 7:32 am)
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It was set to scan including EXT hours as you can see here: https://ibb.co/Q8zCM4C Good tip, I'm going to try and test the volume first and then the 2% consecutive candles. By the way, only after the open I started to get some results, but they were not the most obvious stocks, just some stocks that were a bit under the radar, not the hot small caps of the day that everyone was watching.
( at April 13, 2020 8:33 am)
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I would also suggest you remove the top stock filter you have there for volume greater than 5,000. That may seem like it would not impact the results but that filter is set to daily time frame and cannot be set to included extended hours trade. And your Bid filter should be removed too as part of your troubleshooting.
( at April 13, 2020 10:40 am)
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Hi Pete! I am just seeing your comment now! I didn't get the email alert. Thanks for the suggestions. Today the results seem to be a bit better. However, I noticed that I was receiving some alerts for stocks opening with a gap down in premarket and I realized that I need to include only stocks gapping up in premarket, but it is not that easy as it should be! I'm trying "Add filter/Study/Gap up/current's bar HIGH gaps 1% or more above previous CLOSE. But that should be for daily, and as you say, the other part of the scan is for 1 min and EXT hours. So, how do I scan for stocks opening with a gap up since premarket and also gapping up during the session? Thanks so much!
( at April 15, 2020 11:07 am)
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I believe gaps have already been extensively covered in the forum. Included one that runs for premarket data.
( at April 15, 2020 11:13 am)
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Yeah, I have searched for options to add the gap up info to the scanner, but I don't really know how to do that. I'm just a newbie using code. This should really be so much easier in TOS, just basic choice for the user if he wants to search for gap up or down stocks. So, I guess I'll try the built in scan for Gap up stocks and try to modify it. Thanks!
( at April 15, 2020 2:25 pm)
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I suggest you try building a scan for just the gap before trying to add this volume scan. You can add multiple Study Filters to the scan and apply a different set of code to each one. You don't have to try and figure out how to combine them into one code. The code running in each of the study filters will each contribute to a combined signal. I believe the following post will suit your purposes for a gap scan: https://www.hahn-tech.com/ans/help-making-pre-market-gap-scanner-more-efficient/
( at April 15, 2020 3:23 pm)
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OK. Thanks, Pete! I'm going to keep trying ideas.
( at April 16, 2020 1:39 pm)
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OK, I kept trying and I can say I\\’m lost trying to set something that should be so absolutely obvious. Really disappointing. I just want to scan stocks moving with a gap up in premarket compared to yesterday\\’s close. That should be a 1-step process that any user could do. I tried to set a simple rule to search for 1-minute bars with close greater than open, I also tried close greater than low, as well as the gap up and the price change built in rules. Nothing gives good results as it should. I keep getting stocks with a gap down and those useless 5-letter tickers that should be ignored by scanners. Any orientation would be welcome! Thanks!
( at April 28, 2020 6:04 am)
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Sorry but this is about the limit for the level of assistance I am able to provide in a Q&A forum post.
( at April 28, 2020 7:25 am)
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Thanks!
( at April 28, 2020 4:44 pm)