Lab Experiments
Thinkorswim Gap Scanner
The TOS Gap Scanner helps me quickly find stocks that have made large moves in a single day, highlighting potential gap-and-go or intraday momentum plays. This scanner focuses on $2–$20 stocks with strong volume that are up 20% or more today compared to the previous day’s close, making it perfect for spotting stocks that are “in play” right now.
What It Does
Finds stocks up 20% or more from the previous day’s close, highlighting strong intraday momentum.
Focuses on $2–$20 stocks with high volume, filtering for small- to mid-cap runners that are tradable.
Ensures liquidity by highlighting stocks with at least 1,000,000 shares traded.
Optional filters like sector or price adjustments can narrow your focus if desired.
When to Use It
I use this scanner during regular trading hours to spot stocks that have made big moves today. It’s perfect for day trading momentum or gap-and-go setups, where catching high-volume, high-momentum stocks early can create intraday trading opportunities.
How to Manually Set It Up in Thinkorswim
Open the Scan tab in Thinkorswim.
Add a Stock Filter → Last (Price):
Set the minimum to 2 and maximum to 20 to focus on your desired price range.
Add a Stock Filter → Mark:
Set the minimum to 1.00 to avoid penny stocks.
Add a Study Filter → Custom:
Click ThinkScript Editor and enter:
((close - close[1]) / close[1]) * 100 > 20
Make sure the study is applied on the daily chart (“D”) to find stocks up 20%+ today.
Add a Stock Filter → Volume:
Set the minimum to 1,000,000 to focus on liquid stocks that are easier to trade.
Click Scan to view your results.
Save the scan for quick access later by clicking Show actions → Save scan query and naming it something like “TOS Gap Scanner.”
Optional Tips
Sort results by volume or percentage change to find the strongest movers.
Focus on top candidates — these are stocks most likely to continue moving intraday.
Combine with intraday charts or VWAP to confirm momentum before entering trades.
Refine filters as needed: You can adjust optional settings such as:
Price range – focus on specific stock price tiers (e.g., $2–$20, $20–$50).
Volume – increase the minimum to filter for more liquid stocks.
Sector or industry – narrow results to the markets you prefer to trade.
- Relative volume or volatility indicators – filter for unusually active stocks.
Option 2: Click to Import
You can also use the shared Thinkorswim link provided below. This will automatically import all the filters and settings for you. Once imported, save it under a recognizable name like “TOS Gap Scanner” for easy access.
How to Install This Scanner in Thinkorswim
Follow these steps to import each scanner directly into your Thinkorswim platform:
- Click on the blue download button on this page for the scanner you want to install
- Click on the + sign next to import manually
- Click on the link to copy it
Open Thinkorswim and go to the Scan tab
Click the Setup icon (top right) → choose Open shared item
Paste the import link and click Preview
Click Import to add the scanner to your list
Save it for easy access
Disclaimer: The scanners provided on this page are for educational and informational purposes only. They do not guarantee profit and should not be considered financial advice.
