A stock market screener idea for ten top stock picks

How to find a hot stock pick for free

Ideal for free day trading stock picks and short-term stock picks

These traders need to find stocks where there’s some momentum building to realize short-term trades. So, the most important task is to find the answer to the question, “How can one spot building momentum?”

The simple answer is watch the volume . Unusual and high volume levels are a strong signal that big players, institutional investors and money funds are active in this stock. It can be associated with both types of price movement, a rising price for long trade and a declining price for short-type trade.

The key idea is to spot this unusual volume as soon as possible. I use Amibroker , technical analysis software to do this.

Traders can build their own database of stocks for monitoring. It’s possible to have a database of all U.S. stocks, or a database can be based on the European stock markets like the Frankfurt or the London stock exchange.

This database must be connected to some real-time data provider that scan in real time. Or you can also use EOD data from free data providers like Yahoo for End of Day scanning.

Then use the automatic analysis function of AmiBroker. Choose the file with a high volume formula defined. Here is a description of this formula:
TimeFrameSet( inDaily );
Cond1= Volume > MA( Volume, 20 );
TimeFrameRestore(); // restore time frame to original

Filter = TimeFrameExpand(Cond1,inDaily);

AddColumn( Close, "Close  " );
AddColumn( Volume,"Volume      " );
AddTextColumn(IndustryID(1),"Industry");


Run it. It should provide a list of stocks with above-average volume. And this list should contain ten top stock picks for the current or the next trading days.

Like this example:

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