📖 Complete guide

How to Use the
Stock Market Scanner

Everything you need to read the ToolsFin scanner confidently — what each signal means, how to interpret every column, and the exact daily workflow professional swing traders use to build their watchlist before the market opens.

S&P 500 — 500 stocks Dow Jones 30 Nasdaq 100
Contents
Section 01

The Three Indices — Which One to Use

Use the index switcher at the top of the scanner to switch between S&P 500, Dow Jones 30 and Nasdaq 100. All 10 signals apply equally to every index. Here is what makes each one different.

🇺🇸S&P 500
500 stocksNYSE + NASDAQAll sectorsSPY ETF

The broadest US large-cap index. Covers all 11 GICS sectors — Technology, Healthcare, Financials, Energy, Consumer Discretionary and more. Best for: swing traders who want the widest universe of setups. Most signals fire here daily because of the larger stock count.

🏛️Dow Jones 30
30 stocksBlue chips onlyPrice-weightedDIA ETF

Only the 30 most established US companies — JPMorgan, Apple, Boeing, Goldman Sachs, Walmart, UnitedHealth, Nike and more. Best for: traders who prefer fewer, higher-conviction setups on mega-cap names with deep institutional participation.

💻Nasdaq 100
100 stocksTech-heavyNon-financialQQQ ETF

The 100 largest non-financial Nasdaq companies. Dominated by technology — NVDA, AAPL, MSFT, META, AMZN, TSLA, GOOGL. Best for: momentum traders who want tech-driven breakouts. Signals here tend to be faster-moving and higher-beta than S&P 500.

Pro tip: Run all three indices on the same signal (e.g. VCP) and compare. A VCP signal that appears in both the S&P 500 and Nasdaq 100 scanner on the same stock is double-confirmed — the stock qualifies under both index criteria.
Section 02

All 10 Signals — What They Mean

Every signal is calculated fresh each evening after market close using end-of-day Yahoo Finance data. Here is the exact logic behind each one.

🎯 VCP — Volatility Contraction Pattern Weekly · Daily
Mark Minervini's highest-conviction swing trade setup. Requires: stock in a Stage 2 uptrend (price above 150 and 200 SMA), within 25% of its 52-week high, showing 2–4 successive pullbacks each shallower than the last, with volume contracting on each pullback. Current price must be within 5% of the pivot (the highest point in the base).

This is the tightest, most precise signal in the scanner. A clean VCP on volume 1.5× or higher when it breaks the pivot is a high-probability setup.
📈 RSI Bullish Divergence 1H · 4H · Daily
Detected when price makes a lower low but RSI makes a higher low — meaning selling momentum is weakening even as price falls. Requires a minimum of 2 confirmed swing lows on the selected timeframe. Only triggers when today's daily candle closes above open (green candle confirmation).

Available on three timeframes: 1H (shorter-term), 4H (medium), 1D (strongest). A divergence confirmed on both 4H and Daily is higher conviction than 1H alone.
📊 EMA Cross + Trend Daily
The 20 EMA crosses above the 50 EMA with price trading above the 200 EMA. Requires 3 consecutive higher closes and rising volume over those sessions. This filters out false crosses caused by single-day spikes.

The 200 EMA condition is key — it ensures the stock is in a longer-term uptrend, not just bouncing in a downtrend. Only golden cross setups (short EMA above long EMA) appear here.
RSI Crossing 45 Daily
RSI crosses from below 45 to above 45 on the daily chart, confirmed by a bullish candlestick pattern on the same day. The 45 level is significant — stocks in strong uptrends rarely drop below 40 RSI, and a cross back above 45 signals the pullback is over.

Look for this signal combined with a green day and above-average volume for the best entries.
🕯 Bullish Candlestick Patterns Daily
Classic single and multi-candle reversal formations detected on the daily chart: Hammer, Bullish Engulfing, Morning Star, Three White Soldiers, Piercing Line, Dragonfly Doji and Bullish Harami.

These patterns are strongest when they form at a key support level, after a pullback in an uptrend, with above-average volume on the pattern candle. Use the sector filter to find clusters of candle patterns in a single industry — sector rotation often shows up here first.
🚀 52-Week High Breakout Daily
Price closing within 3% of its 52-week high, volume at 1.5× or above average, RSI above 60, and price above the 200 SMA. All four conditions must be met simultaneously.

New 52-week highs on expanding volume are one of the most reliable momentum signals in the market. Stocks that break to new highs have cleared all prior overhead resistance — there are no trapped buyers above to sell into the move.
📐 Flat Base Pattern Weekly
Price consolidating in a range of ≤15% for at least 5 weeks near prior highs, with the 200 SMA below the consolidation zone and volume contracting through the base. This is a classic IBD / CAN SLIM setup.

The tighter the base (under 10% depth) the better. A breakout from a flat base on 2× volume is a high-quality Stage 2 entry. Watch the top of the base (shown in the Detail column) — that is your buy trigger level.
📦 Inside Bar Breakout Setup Daily
Today's entire candle range (high to low) fits inside the prior day's range. Price must be above the 50 SMA, RSI between 45–75, and volume declining. This is a compression / coiling setup.

The inside bar itself is not the entry — it is the setup. The entry trigger is a close above the prior day's high on expanding volume, ideally the next session. The Detail column shows that exact price level.
📉 Weekly Volume Coil Weekly
A prior week registered a volume spike ≥2× average. Each subsequent week shows lower volume AND a narrowing price range — the stock is coiling after unusual institutional activity. Requires minimum 2 declining weeks confirmed.

Think of this as a spring being compressed. The original spike week was institutional buying. The quiet weeks after are distribution of that buying into fewer and fewer hands. When volume expands again, the move resumes.
👀 Weekly Watchlist — Fresh Volume Spike Weekly
This week itself is showing a fresh volume spike ≥2× the 20-week average volume. This is the earliest-stage signal in the scanner — it tells you unusual accumulation is happening right now.

Add these to a manual watchlist. If volume contracts over the next 2–3 weeks and the price range tightens, it becomes a Weekly Volume Coil — a much higher conviction setup. Think of Weekly Watchlist as the early-warning radar.
Section 03

Reading Each Column — Left to Right

The scanner table has 7 columns. Here is exactly what each one shows and how to use it.

Column What it shows How to use it
Symbol Ticker + company name. Left border colour = signal category Green border = momentum signal (EMA, RSI45). Teal border = divergence. Click row to open TradingView chart instantly.
Sector GICS sector (Technology, Healthcare, Financials, Energy, etc.) Use the sector chips above the table to isolate industries. Multiple signals in the same sector = sector rotation in progress — high-value signal cluster.
Price / Chg% EOD closing price + day's percentage change Sort by Change % to see which signals had follow-through today. Green = up, red = down. A bullish signal with a red day is weaker — wait for follow-through.
Signal The technical setup badge(s) that triggered. Includes timeframe tag (1H / 4H / 1D / Weekly) A stock can appear under multiple signals. More signals = more confluence = higher conviction. The timeframe badge tells you which chart to open first.
Volume Volume ratio (today ÷ 20-day avg) + a visual bar showing relative strength Under 1.0× = weak. 1.5× = active. 2.0×+ = 🔥 institutional activity. Always cross-check volume before acting — signals without volume confirmation have lower follow-through probability.
Trend Mini sparkline of recent closing prices. Green = uptrending, red = downtrending A bullish signal on a green (rising) sparkline = aligned signal. A bullish signal on a red sparkline = contrarian trade — lower conviction unless other factors are strong.
Detail The exact numbers behind the signal — price levels, RSI values, contraction depths, pivot prices This is the most important column. See Section 4 below for a full breakdown of what each signal shows here.
Section 04

The Detail Column — Signal by Signal

The Detail column shows the precise numbers behind every signal. This is where you decide whether a setup is worth acting on. Here is exactly what each signal displays.

🎯 VCP Weekly · Daily
Shows the contraction sequence as a depth chain (e.g. 18% → 11% → 6%) — each pullback must be shallower than the last. Also shows the pivot price (resistance to break) and how far current price is from it.
Example: Contractions: 18% → 11% → 6% | Pivot: $184.50 | Current: $181.20 (1.7% below pivot)
→ Under 3% from pivot = very close to a potential breakout entry. Watch for volume expansion on a close above $184.50.
📈 RSI Divergence 1H · 4H · Daily
Shows the two price swing lows (price going down) and the two RSI lows (RSI going up) side by side — the divergence in numbers.
Example: Price lows: $142.30 → $138.70 (lower) | RSI lows: 38.4 → 43.1 (higher) | Timeframe: 4H
→ Price fell $3.60 but RSI rose 4.7 points. Sellers are exhausting. Watch for an upside break on volume.
📊 EMA Cross Daily
Shows EMA20 value, EMA50 value, and how far above the 200 EMA price currently is (%).
Example: EMA20: $221.40 | EMA50: $218.90 | Price vs 200 EMA: +12.4%
→ Clean golden cross. +12% above 200 EMA = strong uptrend context. The higher above 200 EMA, the more extended — consider whether the move is early or late stage.
⚡ RSI › 45 Daily
Shows RSI moving from below 45 to above 45 with the exact values, plus the candlestick pattern that confirmed the signal.
Example: RSI: 43.2 → 47.8 ↑ | Pattern: Bullish Engulfing | Volume: 1.8× avg
→ RSI crossed 45 on a bullish engulfing with above-average volume. All three confirming. Strong signal.
🚀 52W Breakout Daily
Shows the 52-week high price, how far below it the stock currently is (%), today's volume ratio, and RSI.
Example: 52W High: $312.80 | Current: $308.40 (1.4% below) | Volume: 2.1× avg | RSI: 71.2
→ 1.4% below the high = extremely close. 2.1× volume = institutional buying. RSI 71 = strong momentum. This is a quality breakout setup.
📐 Flat Base Weekly
Shows how many weeks the base has formed, base depth (% range from high to low), the top of the base (buy trigger), and current RSI.
Example: Base: 7 weeks | Depth: 9.2% | Base top (buy above): $445.20 | RSI: 58
→ 7-week base, only 9.2% deep = tight flat base. A weekly close above $445.20 on volume is the entry. Under 15% deep for 5+ weeks is the minimum — this qualifies cleanly.
📦 Inside Bar Daily
Shows the prior day's high (your entry trigger), the inside bar tightness (% of prior day's range the inside bar covers), and RSI.
Example: Buy trigger (prior high): $187.60 | Inside bar covers 64% of prior range | RSI: 62
→ A close above $187.60 tomorrow on volume is the entry. RSI 62 = healthy momentum. The tighter the inside bar (lower %) the better the coil.
📉 Volume Coil Weekly
Shows the original spike volume ratio, how many declining weeks since, and how much price has moved from the spike week's close.
Example: Spike: 3.4× avg | Declining weeks: 3 | Price change since spike: -2.1%
→ Original 3.4× spike = strong institutional buying. 3 weeks of contraction = coil forming. Down only 2.1% from spike = price is holding well. Strong setup — watch for volume to re-expand.
👀 Weekly Watch Weekly
Shows this week's volume spike ratio and the stock's price change this week.
Example: This week volume: 2.8× avg | Price this week: +4.3%
→ Fresh accumulation. Add to watchlist. If volume contracts over the next 2–3 weeks and price holds, this becomes a Weekly Volume Coil — one of the best setups in the scanner.
Section 05

Understanding Volume Ratio

Volume is the most important confirmation tool in the scanner. A signal without volume is unconfirmed. Here is how to read the volume ratio.

Volume RatioWhat it meansSignal quality
Under 0.8×Below-average volume — quiet dayAvoid. Signal has no confirmation. May be a false move.
0.8× – 1.2×Normal trading volumeNeutral. Signal is valid but not strongly confirmed by institutional activity.
1.2× – 1.5×Active — above averageGood. Institutions are participating. Signal has reasonable conviction.
1.5× – 2.0×High volume — strong institutional interestStrong. Priority signals. Indicates clear directional conviction from large players.
2.0× and above🔥 Unusually high — major institutional activityHighest priority. Rare signals. These deserve immediate attention and chart analysis.
Rule of thumb: Only act on signals where volume is 1.5× or higher on the signal day. For VCP breakouts and 52-week high breakouts, insist on 2.0× or higher — the volume expansion on the breakout candle is the confirmation that institutions are driving the move, not retail traders.
Section 06

Filters, Sectors & Sorting

Three filter tools help you cut from 500 stocks down to your best 3–5 candidates in under 2 minutes.

🏷️Signal Filter Tabs
At the top of the table: All · VCP · RSI Div · EMA · RSI45 · 52W High · Flat Base · Inside Bar · Coil · Watchlist. Click any tab to show only that signal type. Tip: Start with VCP or 52W High — these have the strictest criteria and lowest number of results, making them easiest to review quickly.
🏭Sector Chips
Chip buttons for each GICS sector: Technology, Healthcare, Financials, Energy, Consumer Discretionary, Industrials, Materials, Utilities, Real Estate, Communication Services, Consumer Staples. Tip: When the market is rotating into a specific sector, filter by that sector across all signals to find the best setups in the leading industry.
🔢Sort Options
Sort the table by: Volume (highest first — best for finding the most active setups), Change % (biggest movers today), RSI (momentum strength), or Ticker (alphabetical). Tip: Always sort by Volume first — the most active setups with confirmed institutional participation should get your attention first.
🔍Ticker Search
Type any ticker symbol to instantly jump to that stock across all signals. Useful when you have a stock in mind and want to check whether it is showing any signal today. The search filters live as you type — no need to press Enter.
Section 07

Daily Workflow — Step by Step

This is the exact process to go from opening the scanner to a finished watchlist — in under 15 minutes, every evening after 4:00 PM EST.

1

Open the scanner after 4:00 PM EST

All 10 signals update after the NYSE market close. Opening before close will show yesterday's data. The scan badge at the top of the page shows the last update time and scan date. If the data looks stale, click ↻ Refresh.

2

Choose your index — start with Nasdaq 100 on strong market days

On days when the broad market (QQQ, SPY) is up strong, lead with Nasdaq 100 — tech stocks tend to produce the cleanest momentum signals. On mixed or rotational days, use S&P 500 for the widest signal set. Use Dow Jones to check blue-chip health.

3

Click the VCP tab — review highest-conviction setups first

VCP has the strictest criteria. If 5–8 stocks appear here, that is a good day. Sort by Volume. Read the Detail column for each — focus only on stocks under 3% from the pivot with volume 1.5× or higher. These are your A-grade candidates.

4

Check 52-Week Breakout tab — new highs on volume

Filter to 52W High. Sort by Volume. Any stock within 1–2% of its 52-week high on 2× volume or more with RSI above 65 is a breakout candidate for tomorrow's open. Note the exact 52-week high price from the Detail column.

5

Scan RSI Divergence on 4H and Daily — for pullback entries

Filter to RSI Div. Sort by Volume. Focus on 4H and 1D timeframe tags — ignore 1H unless you are a very active short-term trader. Look for divergence where both 4H and Daily show divergence on the same stock — this is double-timeframe confluence and the strongest version of this signal.

6

Click each candidate — verify on TradingView chart

Click the row to open TradingView. Check: (1) does the chart visually confirm what the scanner says? (2) is there a clear support level nearby? (3) what is the risk/reward to the next resistance? (4) check the fundamentals tab — earnings growth, revenue trend. A great chart with deteriorating fundamentals is a lower-conviction trade.

7

Build your watchlist — maximum 5 stocks per session

Discipline over quantity. Write down: Ticker · Signal type · Entry trigger price · Stop loss level · Target · Volume condition required. A watchlist of 3 well-researched setups beats a list of 20 half-researched ones every time. Arrive at tomorrow's open prepared, not reactive.

Section 08

Pro Tips — Getting the Most from the Scanner

These habits separate traders who use scanners well from those who get overwhelmed by data.

Tip 1 — Confluence beats single signals. A stock showing VCP + Inside Bar + RSI above 50 on the same day is far stronger than any single signal alone. Use the "All" tab and look for tickers that appear multiple times.
Tip 2 — Market context first, stocks second. Before opening the scanner, check whether SPY and QQQ closed above or below their 20 EMA. In a confirmed uptrend (both above 20 EMA), take breakout signals. In a choppy or downtrending market, be far more selective — stick to VCP only, or wait.
Tip 3 — Sector clusters are a leading signal. If you see 4 Technology stocks showing EMA crossovers on the same day, that is not coincidence — it is sector rotation. Add the whole sector to your radar and look for the strongest individual name within it.
Tip 4 — Weekly signals are slower but more reliable. VCP and Flat Base are weekly signals. They take longer to set up but have higher follow-through rates than daily signals. If you can only act on one type of signal per week, prioritise these two.
Tip 5 — The Dow Jones scanner is your market health check. Run the Dow Jones scanner last. If 10+ of the 30 blue-chip stocks are showing bullish signals (EMA cross, RSI above 50, 52W highs), the broad market is healthy and bias should be long. If fewer than 5 blue-chips show any signal, be cautious regardless of what S&P or Nasdaq show.
Tip 6 — Weekly Watchlist today = Volume Coil in 2–3 weeks. Every Monday, run the Weekly Watchlist tab and note the top 5 by volume ratio. Set a reminder for 2–3 weeks later to check if those same stocks are now showing a Volume Coil. This is how you catch setups before they are obvious.

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S&P 500 · Dow Jones 30 · Nasdaq 100 · 10 signals · Updated daily after 4:00 PM EST · Free during launch

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