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ThinkOrSwim doesn’t come with a low float stock scan built in. It doesn’t even have float shares as a quote column for traders to reference. Why that is the case is a bit of a mystery, because a lot of TOS traders want to be able to trade the low floats. Spike traders, spike faders, early morning gap traders, and many others, need the ability to find stocks with low floats that are setting up for good trades. And it has always been next to impossible to quickly find these trade setups from within ThinkOrSwim.
That is, until now.
I’ve developed a workaround that allows traders to run any kind of scan they want against a custom universe that ONLY includes low float stocks. So all the scan results will be low float stocks that can run, run, RUN!
The scan includes
5 separate universes 7 separate stock universes (personal custom watch lists) that include only stocks with less than either 100, 50, 40, 30, 20, 10, or 5 million shares float. You get to choose whichever one you want to use, and run your scans against that list. The list of low floats you choose can be further narrowed down as needed with additional filters in Stock Hacker:
- Set min/max price (filter out penny stocks or non-penny stocks, etc.)
- Min/max average daily volume (choose liquidity environments that you’re comfortable trading in)
- Choose min/max total shares outstanding
- Any other filter criteria you want to add within TOS StockHacker
So whereas it was previously impossible to run a low float stock scan in Think Or Swim, these
5 custom stock watchlists 7 custom stock watch lists now make scanning for low float runners a piece of cake.
Frequently Asked Questions
- Question: Do I get free updates?
- Answer: YES! And this is true of all the thinkscripts on our site. Updates, new versions, and improvements are always provided for free under your original order detail page when you login to the site. Just mouse over the menu at the top of the page and go to My Account > Orders, and then click the green “View” button to view the order details. The latest links are always posted there with the “as of” date so you’ll know if it’s newer than your current one.
- Question: How often are the low float stock scan watch lists updated?
- Answer: We update them once every 1-2 months around the 1st of the month. Float doesn’t usually change quickly, so it’s not usually necessary to update them more often than that.
- Question: How did you get this to work when no one else has been able to?
- Answer: We’re clever! No, actually, there’s no magic trick or anything involved. We just use a different data source to obtain the low float data, then manually filter, create, and reformat the lists, and then import them into ThinkOrSwim so they can be used from within Stock Hacker.
We’re always happy to answer questions, and full email support is provided with every purchase. We’ll make sure you get up and running. If you have questions, email us here or leave a comment below!