 And we are back today with another Thinker Swim video and the reason why I do all these Thinker Swim videos is because it's such a powerful platform really and it's a really good stock broker as well so you might as well get the account even if you don't put that much money into it, it gives you a very powerful platform with which to learn because along with this platform there's also a bunch of education that comes along with it over here in the education tab or it's also online somewhere I don't work for you know TD Ameritrade at all I'm just I'm very impressed by their platform and their software okay so in a previous video which I'm going to link to right here we looked at how to create scans and or filters in Thinker Swim and we we just went through the basics okay so it's basically you come over here to the scan tab right and in this case we're doing stocks as we did in the previous one and you're basically going to set up a scan which looks for you know it scans in all stocks or of course you can narrow it down you can look for just for example just the S&P 500 right or you can look for just the Dow Jones I believe would be somewhere in here right if you just want to look at those stocks but of course that narrows it down quite a bit so we're gonna leave it in this case for all stocks if you want to intersect it with something else you know if you want to look at all the stock all the stocks that are only you know have only had analyst upgrades or downgrades or pre and post market movers which is basically what we're gonna be making today okay and then you can exclude you know you exclude certain things that you don't want maybe you don't want analyst upgrades or you don't want somebody that's had you know top-ten net loss on the NASDAQ right or maybe you don't want OTC penny stocks for example okay so you can start that your scam actually starts out with these three parameters or pre filters and then you can add your own filters down here again if you want you know the link to that video is back there but basically you you start by adding filters okay and you can add filters for stock option fundamentals or studies or patterns right so you can add a filter that is related to stock parameters so what does that mean well basically we have some here this is the one that we're actually gonna be working with we want to look at mark okay so you added a filter here and you as you can see I'm not gonna go through these because I've already explained it in the previous video but basically anything that trades between five and 100 right as a mark so in after trading hours or pre market hours anything that's trading between five and a hundred dollars we also selected stock with a particular volume in this case five thousand because why we do not want stocks that have a very small trading volume not for this particular scan the point here is forgot to mention the point of this scanner is to look at stuff that is moving post and pre market so that when the actual market you know the cash trading session begins then you are in a better position to identify explosive movers okay so that is why we want to look at stocks that have a lot of trading volume we don't want something that is barely trading because they won't have such explosive moves and we also want something that's at least 500 million in market cap so we're kind of basically putting out some of the penny stocks out there or excluding them we don't want something that has a such a smart small market volume that is easily controlled by the winds of you know whoever is controlling it or has the largest you know stock position for that trade I mean for that ticker okay so we are going to those are the three stock filters that we have we added a study filter and going back to the types of filters that we looked at you can also filter for options if we were looking for options which in this case we're not but we could look for option parameters such as the Greeks you know Delta of so much Vega so much of so much etc etc you know put the call ratios and whatnot you can look at fundamentals you can look at tickers that have you know parameters that you're looking for such as maybe dividends or EPS you know this is probably something that interests you in the particular scan that you want to create and of course studies so let's go ahead and look at the studies and the patterns that we added in our current scan so what we did is we're looking for study that gives us that the after hours percentage change has moved greater than 2% okay so basically anything that has moved more than 2% as soon as the market closed which is very likely due to you know earnings beats or earnings misses because it could also go in the negative direction if we had this as less than so we could filter out those and in this case what we're doing is anything that has been moved at I mean equal to or above 2% in after hours trading and of course we're looking for the extended we have to look into the extended time frame and in this case we're looking at the one minute so any one minute candle that is 2% for greater than the previous okay and the last bit that we throw in here is a pattern okay you can also put patterns in here and you can pick from all the different patterns which one you like in this case I threw in a flag one but I actually wanted it let me get rid of the flag pattern for now just to show you what this scan looks like right now so let me go ahead and scan this right it's going to give us the 200 stocks sorted by symbol ascending scan and boom there it is 56 stickers okay there we go all right so Arbor real realty trust that is the first one and I hope also added a few things down here that you might have noticed her let me bring your attention to that which is normally you have the last the net change in the change what does that mean that the last is that Arbor realty closed at 1223 right at the end of the trading day it's not changed for the day was minus 0.08 right and that is a 0.65 percent change this is perfect because this gives you some information of of these 56 stocks that you're looking at and I've added another one right here and I wanted to bring your attention to this as well this is very simple and in the next few videos we're going to be looking at some scripts but this is probably the simplest script ever okay this is our ball this is relative volume now the way you get it to modify these columns move them around add new ones eliminate some of the ones that you're not maybe not using is exactly that you come over here sorry to the gear icon right here okay and you look at customize all right and this is where it is and if you want to look for something and then you know its name then you just go to our ball there it is okay that's what we're looking at and it's actually right here okay now if we sorry I think I just removed that did not mean to do that okay and then when it adds it adds to the bottom so drag that back up so that it goes back to where it was there it is okay our ball alright now if you click on that but it has to be right on the little scroll icon here you click on that it'll take you to the think script editor and tells you that this our ball think script is basically defined by this now what is this is what does this mean well it means that our ball is defined as the volume divided by the average volume right and you can go ahead and look at what all these parameters mean by going to the inspector or the reference right sorry there it is okay and then you can go ahead and look at all of these and search for them in here all right and then what do you do well in this case we add a label and we go ahead and assign a color in case that it is greater than one or a different color in case that it is less than point five all right so we go ahead and click out of here okay all right and that is the of course it shrank because I re-added it there it is okay so there it is now this is telling us that the volume the volume is 1.42 times in the case of ACV auctions it's 1.42 times so that's way more that's 42% more than its average volume right and in this case it's telling us that it is 0.73 which is actually less right then it then it's average volume so it's based on a one or one a hundred percent and anything below is less than a hundred anything above is more than a hundred and you can sort these by our ball as well you know so you really you know focus on the ones that are basically just you know bursting with volume you know trading volume here and as you can see clearly here we've got you know quite some big movers like such as this one Unity software right it's up 11.78% all right now we can go ahead and add that filter back which was the pattern one that I wanted to show you and you deselect all and then you just pick the one you want in this case I want the flag and this is really going to shorten it down so when you hit that there boom only one northwest bank shares right so it's the our ball is not that high but it's it's still 6.68% above that's how you use the study I'm sorry the pattern I'm not going to be using this pattern in this particular list and then when you're done with this you can basically just go ahead and save is watch this I'm not going to save it because I already have it saved in this case as our ball right which is this list so how do you use this well this this is basically it you pick the one let's say that we're going to look at which is the one that called our attention Unity software right so then you just go over here to the chart and actually next week or next month I'm going to be adding another one another study I have a few of them down here that I been working on please excuse the mess but basically we can look at this chart of Unity software in this case we're looking at that daily let's go ahead and look at the 180 for an ass six month one day there we go okay so you could say that this is a swing right here that if taken out it could definitely be an important level to look at so let's go ahead and bring in our price level and we're going to mark this right here as right there okay so there is our breakout level now what happens before the next trading day if we see let's go ahead and move into a smaller time frame such as the 20-day one hour okay there it is it's peeking through it peeked through or tried to isn't at least right there and what what we can do is the beginning of the trading day tomorrow okay we can actually go ahead and let me get out of this alright and just kind of focus on this alright and there it is okay so we're ready for tomorrow we have that we know that this has had a lot of volume lately okay we know that this thing can move and we are basically just going to be looking at it to see if it breaks up above this line and that's going to be our entry alright so I hope you enjoyed this video again if you missed on the previous missed out on the previous video on how to create these scans then I'm gonna link the video right here and and in the next few videos we're gonna be looking at creating some more scripts down here that can help us further refine our identification of these stocks that are about to move one of the things that I wanted to add is a breakout script you know that this is basically going to set up okay well and this could be our breakout level actually here and instead of this one and if it breaks out above that level then it should alert us and also we could create or we could cross this with we talked about analyst upgrades and downgrades because that is a news catalyst that is very likely to result in a breakout alright so I hope you enjoyed this video don't forget to use my link which is posted down below in the description of this video to join the Xtrades community by buying your membership plan with my link and if you do so I promise I'll give you a video guided tour of everything the the discord community the the web app the mobile app and everything else that we do at Xtrades I'll give you a free video session with me and I hope you enjoyed the video and see you next time