Pro Trading System's HotList Filter

Our HotList Filter is one of our most powerful yet easy to use features.  It will allow you to take a large list of stocks, and narrow the list down into a more manageable one, between 3 to 10 stocks.  Our program does this by eliminating stocks which do not meet your criteria.

Let's say, for example that you only want to trade stocks that trade more than 800,000 shares per day on average, where the price is above $30 (higher priced stocks move more during the day), where the stock is above yesterday's high (uptrending), where Vol/Avg Vol is above 200% (Stocks up on double+ volume often continue their uptrends) and  the stock had previously fallen for 3 straight days. 

In other charting programs you would have to learn a complicated programming language to filter down or scan for these stocks.  In our program you can within 10 to 20 seconds setup this filter and immediately see the results!

To use our HotList Filter simply left click on box on the left and enter specific amounts in the box on the right.  Detailed descriptions of each Hotlist Filter are found below.

If you end up with too few stocks for your liking change the filter selections to less restrictive numbers.  If you have too many stocks to humanly watch then try being more strict.  For example, to reduce the numbers of stocks on your hotlist, try raising the price of stocks shown from $15 to $30 or from Volume greater than 200,000 shares to greater than 800,000.

Volume: This lets you find high volume stocks and eliminate thinly traded issues.  But if your strategy is to trade thin issues, you can use this to eliminate the higher volume stocks.  Suggestion: For most daytraders try Greater than 500,000

Price: This lets you decide which stocks to watch and trade based on their share price.  Daytraders generally want to find stocks that move enough during the day to get in and out with 1/4 to 1/2 or more points.  Suggestion:  For most daytraders try Greater than: 20

Above Previous Daily High: This filter lets you find stocks that are now trading at or above the previous day's high.  Enter the default 0 to see stocks at or higher than the previous trading day's high.  Enter .25, for example, to see stocks trading $.25 above yesterday's high.  If you wish to be alerted to stocks just ABOUT to go over yesterday's high, then put in - .10  ( minus .10 )

Below Previous Daily Low: This filter lets you find stocks that are now trading at or below the previous trading day's low.  Enter the default 0 to see stocks at or below the previous trading day's low.  Enter .25, for example, to see stocks trading $.25 below yesterday's high.  If you want to see stocks about to go below yesterday's low put in + .10 ( plus .10)

First N Minute Bar: This is one of our most POWERFUL hotlist filters.  What it does is let you find INTRADAY BREAKOUTS as they are happening!  For example, many traders like to buy a strong stock after it breaks out of its first bar of the day.  That gives the stock time to settle down before it begins its trend.  You can put any number in here you want from 3 to 180 minutes.  Settings that many of our traders use is 5, 15, 30, and 60.  In the morning stocks are often very volatile and no clear trend exists for the first thirty minutes.  Setting this number to 30 will alert you the second a stock goes above its first thirty minute trading range.  The uses for this filter are many.  Another good way to use this filter is for afternoon trading.  Stocks above/below their first 30 or 60 minute bar highs/lows are often the most trending stocks and trending stocks tend to close near the highs/lows of the day.  This is a great way to find stocks to trade in the afternoon.  Suggestion:  Use 5, 15, 30, or 60 and make sure to select Above for long trades and Below for short trades.

(Vol / Avg Vol) greater than: This is one of our most POWERFUL Hotlist Filters.  This lets you see stocks who are trading more volume today than normal.  The old saying Volume precedes price is true for a reason.  Stocks move when people decide to either buy or sell them.  If there are more shares being bought than being sold the stock's price goes up.  Conversely, if more shares are being sold than bought the price will go down.  Using this filter you will quickly see that if a stock is trending with much higher volume today than it normally trades, it is very likely to continue the trend.  Suggestion: Use 200 to 300%+ in the first hour of trading and if later in the day the numbers of stocks in your list declines too much try reducing this to 125 to 200% for the remainder of the trading session.

(Vol / Avg Vol) less than: This lets you find stocks that are trading on less volume today than they normally do.  This does not mean that volume will not come into this stock at a later point in the day but generally stocks with low Avg % Volume will not trend and may be good candidates to look for reversals.  Also, since these stocks don't typically trend they may make excellent candidates to trade if they become overbought or oversold using any number of overbought/oversold indicators (Stochastics, RSI, MFI, etc)

Up X Days in a row: This is a wonderful filter to quickly find stocks that have gone up X number of days in a row.  Let's say your strategy is to short stocks after they have gone up 5 straight days, this filter quickly lets you find those stocks.  If your entry point is below the previous day's low, you can be alerted immediately when a stock on your list goes below the previous day's low.  Often times after a big increase, investors will take profits and the stock may fall substantially.  Suggestion:  Set this to 3, 4, or 5.

Down X Days in a row: This is a wonderful filter to quickly find stocks that have fallen down X number of days in a row.  Let's say your strategy is to buy stocks after they have fallen 3 to 5 straight days in a  row.  This filter quickly lets you find these stocks.  If your entry point is above the previous day's high, you can be alerted immediately when a stock on your list goes above the previous day's high.  Often times after many days down, even a weak stock will rally for a day or two.  Suggestion:  Set this to 3, 4, or 5.

Narrowest Day in last X days: This is another one of our most powerful filters.  What this filter does is let you find stocks that did not move very much in their previous trading day.  Often times stocks can make explosive moves after a narrow range day.  Often times stocks with strong trends will take a breather day and resume their trends the following day.  Suggestion: Set this to 4 or 7.

Inside Day for last X days:   What this filter does is let you find stocks that traded inside of their previous day's range.  What this means is that the stock's low yesterday was higher than the previous day while its high was lower than the previous day.  Suggestion: Set this to 1, very rarely will a stock have two or more inside days.