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How to Use the Momentum Scanner (Beta)
How to Use the Momentum Scanner (Beta)

Utilize options flow to catch short term momo trades.

Eirik Nordgaard (Norse) avatar
Written by Eirik Nordgaard (Norse)
Updated over a year ago

We built the momentum scanner to help bring you the highest probability of short-term momentum trades as easily as possible. The scanner is built on the principles Wall St Jesus has used to trade momentum from option flow for many years.

You'll find the scanner in the drop-down menu of the "Tools" section and the chat room dedicated to discussing its signals on the left-hand channel list.

Section Explanation

Active Signals

This section contains the signals that are currently active. When a stock is listed as an active signal, chances are high that there is either current momentum in the name or that momentum will appear in the near term.

On the Radar

In this section, stocks that are close to issuing an active signal will appear. Monitoring this section will give you a head start and the chance to pull up charts, options chains, or the level two before an actual signal issues.

Past Signals

The past signals section is where you will see the signals that have been issued during the current trading day. If no qualified momentum orders have been received for a certain amount of time, a signal will move from active to past signals.

Column Explanation

Received

This is simply the time of day that the signal was issued.

Sym

This is the ticker/stock the signal was issued for.

Ref

Ref shows the price of the stock when the signal was received.

Strength

The strength shows the level of momentum one may expect from the signal. The more qualified momentum flow that hits the scanner, the stronger the strength will be.

Side

This shows whether the signal was created from call or put buying. If the signal was created from call buying, our traders may expect upside momentum. If the signal was created from put buying, our traders may expect downside momentum.

Custom Settings (Paid users only)

Paid subscribers have the ability to customize the scanner settings to their liking. The scanner comes with "standard" settings that we worked out based on Wall St. Jesus' recommendations. However, we encourage our users to play around with the settings to fine-tune the signals according to their preferences.

For instance, a user who exclusively trades TSLA may want to receive alerts only when TSLA hits the scanner. Additionally, this user might choose to increase the number of orders needed to create a signal, as TSLA is a stock with a large float and may require a larger number of orders to generate momentum.


MoMo Scanner Introduction Live Public Broadcast



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