Here are my scanners and review of why I think EquityFeed sucks. The first is cost. The U.S. Bundle which includes NASDAQ, NYSE, AMEX, OTC and Pink Sheet market data is $200 a month. This allows you to create scans that search all Market Makers for your preset search criteria. At $200 a month, EquityFeed is more than double what leading competitors charge for the same features.
In comparison, TC2000 provides just about all the the same scanning features for around $125 per month. Trade Ideas is one of the more popular stock scanners. Its $99 a month and includes additional search functionality for Day Traders. With EquityFeed there isn’t a way to search for Relative Volume. In EquityFeed I can’t find a way to catch the really fast moving stocks that have gained more than 100x volume over a 1 minute time period. 🙁
EquityFeed features a well put together Streaming News Feed. I often find news stories in EquityFeed that I don’t see everywhere else. Here’s an example. ThinkorSwim is missing a few recent stories.
I can’t stand the charts in most trading software after getting spoiled by TC2000. I think the charting in EquityFeed needs to be improved.
With Equity Feed you can’t use the mouse wheel to scroll in and out of a chart. I hate having to click a bunch of different time frames to go from a daily to yearly view. It’s just a lot of unnecessary hunting and clicking instead of a smooth transition with one swipe of the mouse.
When I start applying indicators and oscillators to the chart in EquityFeed its starts to look rigid and convoluted. I use the EquityFeed chart to show me a basic over view. When I find an interesting stock I then look at using TC2000.
The chart is also a little glitchy after-hours. As shown below, the candlesticks run off the chart on the 30 minute, 60 minute, 2 hour and 4 hour time frame.
I actually prefer using the chart in PowerScanPro over EquityFeed and that isn’t saying much. At least with PowerScan you can zoom in and out using the slider.
PowerScanPro costs just $200 for a lifetime license. Here on this site perform a search for Power Scan Pro to find my full review. I believe PowerScan uses BATS which is now CBOE for its market data. This limits you to just one market operator, but gives you a good idea of the price in somewhat real-time.
PowerScan isn’t my go-to scanner because its missing a lot of lesser known ticker symbols such as most Penny Stocks.
Equity Feed features live market data from all of the US equities operators which ensures you’re seeing the most up to date price across all market makers.
For Day Traders who need to have up to the second price information, EquityFeed may be best for you. For swing traders and Investors looking for an inexpensive scanner to run complex scans outside the realm of your Brokerage Software, PowerScan Pro may be something to look into.
Look, Feel and Ease of Use
EquityFeed is aesthetically pleasing and easy to navigate after its setup. The path to getting it setup is a little clumsy in my opinion.
With EquityFeed you have to use the Layout Manager which isn’t very intuitive at all. Each time you make a change to your layout, you have to open the Layout Manager and save it. I’ve noticed on countless occasions that after saving a lay out, the window titles are missing.
To correct this issue you have to recreate the scan and save it over again. Here’s an example of a scanner created using the Filter Builder that shows Filter Builder BETA as the title instead of Hot Penny Stocks.
When you make a change in TC2000 it remembers the change automatically. You don’t have to save the changes each time.
EquityFeed uses an individual window lay-out system which means that each scanner, chart, news feed and alert is its own separate window. This can be extremely cumbersome for someone just starting out. With no preset example layouts, I guess it’s assumed that you’re a professional who knows exactly what to scan for upon purchasing this software.
Most scanners start you off with a basic layout to help get things going.
Another issue I have with EquityFeed is having to jump through hoops to edit a scan. Whenever you need to edit a scanner, you’re forced to re-select the Markets, Stock Types and several other settings. Again, more unnecessary hunting and clicking. It’d be nice if you could edit the scan and hit save.
Equity Feed Setup
As shown above, I like to squeeze everything I need onto one screen to help me stay focused throughout the day. The scanners at the top of the screen are used only after the stock market closes at 4:00pm EST.
These scans help me to find good trade setups for the upcoming day.
Once the market opens, I begin using only the scanners in the second row.
These scans look for volume and price action. As a Day Trader, you know that volatility is what it’s all about. These scans find the absolute hottest stocks starting in the Pre-Market and throughout the trading day.
After-hours EquityFeed Scanners
The first thing I like to scan for after the market closes are Bullish stocks that show a strong upwards chart pattern based on the past 20 trading days. For a stock to show up on the Bullish scanner, it needs volume and the price needs to be higher today than its been over the past month.
Here are the search perimeters I use for the Bullish scanner.
Don’t forget to save the Filter before running it.
The next thing I like to look for are stocks that have been active over the past 10 days or so. This scan find stocks that have been very volatile over the past week. Strong stocks can provide several days of tradable activity.
Here are the search perimeters I use for the 10 Days Active scanner.
The third scanner, titled 50 Crossing the 200 SMA looks at the Simple Moving Averages. A moving average just tells you where the stock should be trading. When a stock crosses through both the 50 and 200 day average its considered to be bullish and may continue going higher.
Here are the search perimeters I use for the 50 Crossing the 200 SMA scanner.
The forth scan in the list looks for Bottom Bouncers. These are stocks that are up at least 20% over the past 2 weeks ago. This scan helps to locate stocks that have bounced off of a low and held the gains for the past few weeks.
Here are the search perimeters I use for the Bottom Bouncers scanner.
The fifth scanner labeled Overextended Reversals is the first of 3 short sell scanners that work great for both Day and Swing Traders. The Overextended scanner looks for stocks that are up big today in price and volume.
Looking through this scan, it’s sometimes easy to spot stocks that are up way too much solely based on hype. If you can research and then time it right, you can ride some of these high flying stocks all the way back to earth.
Here are the search perimeters I use for the Overextended Reversals scanner.
The Short Floaters scan looks for stocks that closed down on the day, but are still trading above the Upper Bollinger Band. This scan looks stocks that are up big, but beginning show signs of weakness.
Here are the search perimeters I use for the Short Floaters scanner.
The 7th and final scan looks for all stocks that gained more than 20% during the previous trading day. I think it’s a good idea to keep your finger on the pulse of the hottest stocks at all times. This scanner finds stocks that are up way more than they should be and others with strong news that may continue higher.
Here are the search perimeters I use for the 20% Gainers scanner.
Pre-market and Daily Scanners
Around 7:00am I start each day by looking to see what stocks are already up big in the Pre-Market. After researching the biggest movers, I have a pretty good idea as to which stocks will be active right at the open. The Pre-Market Movers scan finds all stocks that are up more than 3% and have already traded more than 100,000 shares before the opening bell.
Here are the search perimeters I use for the Pre-Market Movers scan.
The second most important scan moving from the pre-market into the market open is the Gappers scan. With this scanner we’re looking for anything that has gapped up 5% or more in the pre-market. You’ll often hear Gurus go on about Gap and Go trade setups. This scanner finds the gappers before they go.
Here are the search perimeters I use for the Gap Up scan.
The next thing I look for each morning are Hot Penny Stocks. This scan looks for all stocks between .50 and $5.00 that are up more than 5% on strong volume. Penny Stocks are affordable so more people can trade them. Some of the biggest daily trade setups will come from this scanner.
Here are the search perimeters I use for the Hot Penny Stocks scanner.
The forth scan looks for Runners and High Flyers. These are the stocks experiencing the most price movement throughout the trading day. This scan looks for stocks with more than one million shares traded since the open that are up more than 3%.
Here are the search perimeters I use for the Runners and High Flyers scan.
The Breakout scanner looks for heavy traded stocks that have gained more than 3% within the past 5 minutes. This scan is good at finding stocks on the verge of breaking out to new highs.
Here are the search perimeters I use for the Breakout scan.
When Day Trading its best to find stocks that are currently experiencing much higher levels of volume than normal. Increasing volume is a good indication that the stock is currently in demand.
The 100% Volume Increase scan looks for stocks that have seen more than a 100% uptick in volume over the past 2 trading days. These stocks will generally remain active for several more days, weeks or even months. This scans looks for stocks that are at the beginning stages of their next move.
Here are the search perimeters I use for the 100% Volume Increase scan.
The 52 Week High Breakout scan looks for stocks that are at or above their one year high. Stocks that are reaching new highs are strong and have a good change of continuing higher based on news or financial information.
Here are the search perimeters I use for the 52 Week High Breakout scan.
To round out the scanners I also place a couple charts, Streaming News and Trading Alerts at the bottom of the screen. The larger of the charts is connected to the scanners. The smaller chart displays the SPY, which is a representation of the S&P 500. Whichever way the SPY is headed determines the overall direction of the stock market.
The Streaming News feature in EquityFeed is unique and very useful for finding out about big news before everyone else. I don’t really pay much attention to the Streaming News window during trading hours because I use Benzinga audio alerts and they cover all of the biggest stories of the day.
The Trading Alerts section is also unique to EquityFeed and provides real-time price alerts for stocks making new highs and lows based on different time frames. It also helps uncover huge block trades as they happen. I don’t use this much either simply because the same information is popping up the scanners.
I think EquityFeed sucks because the cost is more than twice as much as Trade Ideas which provides essentially the same scanning features and more. I don’t like Equity Feed’s clumsy Layout Manager, its lack-luster charts, the inability to quickly make changes or its lack of integration with other trading software. Dollar for dollar I’d have to say that Trade Ideas is a far better value.
It all comes down to how you trade. I think that EquityFeed sucks, but you might not trade the same way I do or care about the small issues I’ve uncovered. EquityFeed offers a free 2 week trial and they don’t require a credit card during sign-up. Use the trial period to setup the scans I’ve featured here in this article or create your own. Come back and let us know what you think about EquityFeed compared to the other scanners you’ve used.
To sign-up for the free 2 week EquityFeed trial click here.
What are your thought and opinions of EquityFeed? Let us know in the comments section below. Leave a Like if you enjoyed this article.