Is there a third party software that uses esignal data feed that has a Gap scanner , an maybe intraday leaders and laggers .... Thanks
Esignal Gap Scan
- Thread starter jpomerenke
- Start date
anyone??????
The problem is that clients of e-signal, such as myself, are LIMITED BY THE NUMBER OF SYMBOLS, which of course, is dependent on whatever package you purchase with them. The very best package has 500 symbols and you can purchase more ....for a price. In order to have an effective gap scan you will probably need at least 2000 symbols.
So the symbol limit is probably why no vendor has developed a scanner that scans the stock universe for gaps. At best the vendor will require the client to have a symbol limit that would certainly exceed 500, but that would be costly for the client.
You could, however, build a data base with a list of 2000 stocks using software such as, RT Investor, Neoticker or Tradestation 2000i ( with the new e-signal plugin) and use their customizable quote screens to create your own criteria for your gap stocks. The kicker, is that you could only run 500 (or whatever your symbol limit is) on one quote screen. To identify any other gap stocks from your list of 2000 candidates, you will need to run 3 additional quote screens of 500 stocks. This could not be done simultaneously because you will go over your symbol limit. I don't know if anyone does this but its seems like a big hassle to maintain this data base.
E-signal already has a scanner, which is web based that gets around the symbol limit. It scans the universe of stocks for gaps and it can be configured to filter out candidates for price, volume and other criteria. I personally use their pre-market scan and its adequate in detecting gap candidates.
So the symbol limit is probably why no vendor has developed a scanner that scans the stock universe for gaps. At best the vendor will require the client to have a symbol limit that would certainly exceed 500, but that would be costly for the client.
You could, however, build a data base with a list of 2000 stocks using software such as, RT Investor, Neoticker or Tradestation 2000i ( with the new e-signal plugin) and use their customizable quote screens to create your own criteria for your gap stocks. The kicker, is that you could only run 500 (or whatever your symbol limit is) on one quote screen. To identify any other gap stocks from your list of 2000 candidates, you will need to run 3 additional quote screens of 500 stocks. This could not be done simultaneously because you will go over your symbol limit. I don't know if anyone does this but its seems like a big hassle to maintain this data base.
E-signal already has a scanner, which is web based that gets around the symbol limit. It scans the universe of stocks for gaps and it can be configured to filter out candidates for price, volume and other criteria. I personally use their pre-market scan and its adequate in detecting gap candidates.
www.trade-ideas.com uses esignal data and has the gap scanners. Here is one of a few of them. http://www.trade-ideas.com/Help.html#GUR
SocalTrader,
Trade-ideas.com is a web based scanner that uses its OWN data which integrates with the e-signal platform. It does not use any data feed from e-signal. So, in some ways its similar to the e-signal scanner. It seems that web based scanners may be the only practical solution when scanning for large number of stocks
Trade-ideas.com is a web based scanner that uses its OWN data which integrates with the e-signal platform. It does not use any data feed from e-signal. So, in some ways its similar to the e-signal scanner. It seems that web based scanners may be the only practical solution when scanning for large number of stocks
eSignal Support
eSignal
Here's more information about eSignal Market Scanners. There's a free 30 day trial available for existing subs.
Thanks.
While you certainly can't scan the "universe" of stocks with only 500 symbols, it does seem that you could have very significant coverage.
Considering that the S&P100, Nasdaq100, and Dow30 account for half or more of ALL the volume traded and (at least according Yahoo's simple screener) there's only about 600 stocks that trade at least $5/share and at least 1 million shares/day.
With the other 270-275 symbols, you could add in the major ETFs, top stocks from the MidCap and Russell, and flesh out the list from any remaining stocks in the S&P 101-200 range that you wanted - at that point you should be covering 80%+ of all the volume traded (and probably 90%+ of all the market value traded).
That's not enough of a representative universe from which to get at least a few candidates from almost any scan??
Would you realistically get a significant number of additional good candidates if you were to go through the effort of throwing in another 1500 symbols?
Considering that the S&P100, Nasdaq100, and Dow30 account for half or more of ALL the volume traded and (at least according Yahoo's simple screener) there's only about 600 stocks that trade at least $5/share and at least 1 million shares/day.
With the other 270-275 symbols, you could add in the major ETFs, top stocks from the MidCap and Russell, and flesh out the list from any remaining stocks in the S&P 101-200 range that you wanted - at that point you should be covering 80%+ of all the volume traded (and probably 90%+ of all the market value traded).
That's not enough of a representative universe from which to get at least a few candidates from almost any scan??
Would you realistically get a significant number of additional good candidates if you were to go through the effort of throwing in another 1500 symbols?
We have about 15 systems published that uses gaps on our web site. Do a search on "gap" here:
http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/submittitlesearch
In our new automated trading execution we do have a function that submits orders only at the open. So you might be able to use that for your system. I know quite a few good systems that are based on gaps.
Volker
http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/submittitlesearch
In our new automated trading execution we do have a function that submits orders only at the open. So you might be able to use that for your system. I know quite a few good systems that are based on gaps.
Volker