eSignal Market Scanner - Rally Scan
What is the Rally Scan?
Rally Scan is available through the Turbo Package only. At approximately 10:30 a.m. EST and again at 2:30 p.m. EST, big Wall Street money pushes hot stocks up and sour stocks down. It's the law of supply and demand and it happens every day! This extremely intelligent and accurate scanner captures every big move of the day.
Discover breakout opportunities in real time to learn which stocks are hot trades for the day. Learn which stocks are exceeding important highs and lows set in the first hour of trading and then again after noon. Constantly sorts results according to your needs (either by total price performance or by breakout). Control your results by displaying the information that's critical to you, including company name, last, $ change or % change, change from previous close or open, daily or year high and low, volume or average volume, number of trades, bid/ask spread and market capitalization. Plus, access charts, news, and company research to learn more about each potential trading opportunity.
eSignal users can also copy results directly into eSignal to monitor momentum with a host of powerful decision support features found in eSignal.
How high does a stock have to go before it gets included in the Rally scan?
The current price of the stock just has to be greater than the highest price of the stock during the first hour of trading. There is no minimum percentage or limit in the price of the stock before it gets included in the scan, the price just has to be higher than the highest price during the first hour of trading.
What is Trading Scan and the Breakout Scan in the Rally Scanner and what is the main difference between the two?
The Trading Scans rank the results by order of magnitude with the largest moves listed first. These scans will identify those stocks that have had large moves above or below a range either following the first hour of trading or following the trading at noon.
The Breakout Scans will identify those stocks that are just breaking above or below a range either following the first hour of trading or following the trading at noon. The stocks closest to the breakout level are ranked first.
The main difference between the Trading Scan and the Breakout Scan is the order they are sorted. The breakout scan sorts the data and puts those issues that have exceeded the high by the smallest amout/percent at the top of the list. The trading scan takes the same data and sorts it so those issues that have exceeded the high by the most amount/percent are at the top. The list of issues for the Breakout Scan is the same list of issues in the Trading Scan in reverse order.
How to add the Market Scanner to your Services:
The Rally Scan is included in both the Power and Turbo packages. Both packages require subscription. Please click here for price information. You can add this service through Account Maintenance. For Rally Scan Data for NASDAQ, you must add the NASDAQ exchange to your services.
The Rally Scanner in eSignal can be found in two different places.
Browser Version - Click Scanner in the eSignal's menu bar, select and click 'Rally Scan'. An embedded browser will open with the Rally Scan. Defaults are saved in a "cookie", and the scanner will allow you to save a maximum of 16 scans.
Scan Window - The Rally Scanner can be opened within the eSignal program by clicking on File > New > Scan from the main menu bar.
Select Rally Scan in the Upper left hand corner of the Scan window.
Scan Type - There are two types of scans - Trading and Breakout.
The Trading Scans rank the results by order of magnitude with the largest moves listed first. These scans will identify those stocks that have had large moves above or below a range either following the first hour of trading or following the trading at noon.
Trading:
Above 1st hour lists stocks that are trading much higher since 10:30 am ET.
Below 1st hour lists stocks that are trading much lower since 10:30 am ET.
Above Noon list stocks that are trading much higher since the trading at noon ET.
Below Noon list stocks that are trading much lower since the trading at noon ET.
Above Final Hour list stocks that are trading much higher since 3:00 pm ET.
Below Final Hour list stocks that are trading much lower since 3:00 pm ET.
The Breakout Scans will identify those stocks that are just breaking above or below a range either following the first hour of trading or following the trading at noon. The stocks closest to the breakout level are ranked first.
Breakout:
1st hour high list stocks that are trading slightly higher since 10:30 am ET.
1st hour low list stocks that are trading slightly lower since 10:30 am ET.
Noon high list stocks that are trading slightly higher since noon ET.
Noon low list stocks that are trading slightly lower since noon ET.
Final Hour High list stocks that are trading slightly higher since 3:00 ET.
Final Hour Low list stocks that are trading slightly lower since 3:00 ET.
The main difference between the Trading Scan and the Breakout Scan is the order they are sorted. The breakout scan sorts the data and puts those issues that have exceeded the high by the smallest amout/percent at the top of the list. The trading scan takes the same data and sorts it so those issues that have exceeded the high by the most amount/percent are at the top. The list of issues for the Breakout Scan is the same list of issues in the Trading Scan in reverse order.
Sector - Allows you to view stocks belonging to certain sectors or industry groups.
Show Ind. Groups - Displays/turns off the industry groups listing.
Issues
ALL All Stocks
IPO(<2 Wks) Stocks that have IPO'd within the last 2 weeks
IPO(2 Wks - 3 Mos) Stocks that have IPO'd between 2 weeks and 3 months ago
IPO(3 Mos - Year) Stocks that have IPO'd between 3 months and 1 year ago
Min/Max Price - Allows you to set price brackets (ie., minimum/maximum dollar value per share) to focus on stocks best suited to your trading needs.
Min/Avg Volume - The Min Volume is used to select stocks whose premarket trade volume exceeds the specified value. For example: If Min Volume is set to 100k, this means a stock has to trade over 100,000 shares since the market closed on the previous day to be included in the scan.
The Avg Volume is used to select stocks whose last 20 day average volume exceeds the specified value. For example: If Avg Volume is set to 2000k, this means a stock has to trade over 2,000,000 shares average per day over the last 20 days to be included in the scan. Helpful for weeding out very thinly traded stocks whose movements are not supported by sufficient volume for trading.
Market Cap - Allows you to eliminate stocks whose market capitalization are outside the specified boundaries.
Columns - Allows you to select additional information to be displayed for each issue which meets your critiera.
Auto Refresh - Forces the database to be re-scanned in the selected interval. A countdown timer is also displayed to let you know how long is left until this occurs.
Table - Allows you to set the number of issues that are displayed at one time. If you are seeing too few results you may want to change your search criteria. If you have a full page of results and want to have more displayed on each page, you can choose the number of rows from the drop down list in the table section at the bottom of the scanner page.
Show Change From - Calculates the Change and % Change either from the Open price or the previous day closing price.
Options: Saved Scans - Allows you to save all your current settings and restore them later. You may have up to 10 saved scans.
Load - Loads the selected saved scan
Delete - Deletes the selected saved scan
Save As - Saves all your current settings under a name that the user enters.
Scanner Instructions and Descriptions
For complete descriptions of each field in the Market Scanners, click on the HELP button located in the Browser Version on each Scanner page, or visit this KB article.
Use eSignal Market Scanner to spot trading opportunities
eSignal's real time market scanner searches the entire market in a matter of seconds based on the criteria you entered. The scanner lets you access critical price performance data as soon as the markets are open. Every time you run the scanner, you get a concise, easy-to-read list of stocks that are trading candidates. And, the list is based on the lastest real time streaming market data!
Please click on the link below to access the various eSignal Market Scanner Strategies.
http://www.esignal.com/education/likepro/strategy/default.asp
*Please note that the scanner only scans the market for US stocks.