Lab Experiments
Thinkorswim Momentum Scanner
The Intraday Momentum Scanner is designed to help me quickly identify small- to mid-cap stocks that are making big moves during the trading day. These are stocks that are moving fast, often with strong volume, and have the potential for significant intraday price swings.
What It Does
Scans for stocks priced between $2 and $20, keeping the focus on affordable, volatile names.
Filters for companies with 10 million shares or fewer outstanding, targeting smaller-cap stocks that can move sharply.
Looks for stocks that have already gained at least 10% during the day — the kind of strong momentum moves I want to capture.
Uses a custom volume filter to find stocks trading with unusually high activity, specifically those trading at least 5 times yesterday’s average volume.
- Best used to identify new intraday breakouts and high-momentum plays as they happen.
When to Use It
I use this scanner during regular market hours to identify intraday breakout opportunities or momentum trades. It’s perfect for spotting stocks that are surging on high volume and may continue trending throughout the session. This scanner is not for pre-market setups — it’s all about catching the action once the market is open.
How to Set Up the Intraday Momentum Scanner in Thinkorswim
Open Thinkorswim and go to Scan → Stock Hacker.
Add a Stock filter:
Condition: Last (last traded price)
Minimum:
2, Maximum:20
Add a Fundamental filter:
Select Shares Outstanding
Maximum:
10,000,000
Add a Stock filter:
Select % Change
Minimum:
10
Add a Custom filter:
Choose Thinkscript Editor
Paste the following code:
volume > volumeavg()[1] * 5
Click Scan to generate results.
Save the scanner for future use:
Click Show actions → Save scan query
Name it “Intraday Momentum”
Optional tips:
Sort results by Volume, % Change, or Last Price to prioritize strongest movers.
Watch the top results closely — these are the stocks most likely to continue their momentum during the trading day.
Option 2: One-Click Import
Simply use my shared Thinkorswim link below to import the scanner directly.
This automatically sets up all the filters for you — no manual configuration needed.
Once imported, save it under a recognizable name like “Intraday Momentum” for easy access.
Tips for Both Methods
Sort results by Volume, % Change, or Last Price to find the strongest movers.
Watch the top results closely — these are the stocks most likely to continue their momentum throughout the trading day
How to Import Scanners 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.
