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Window Specific Filters

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Now, let's look at the next section. Configure window specific filters. These are slightly different form the filters above because they apply to all alerts in the system, not just a particular alert type. The first two items are the min price and the max price. This is a way that a lot of people choose which symbols they like to trade. For example: Maybe I like to trade stocks between $5 and $100. By leaving the setting blank, again I see more alerts. This will show me everything between $0 and $100. This will not filter by price at all. Max spread is a very useful filter. It can be used in a couple of different ways. If I'm looking at a lot of different stocks, I might want to set a spread of five pennies. That way I can see which stocks are liquid enough for me to trade. Otherwise, I might see stocks that look interesting but I really can't do anything about them. If I know which stocks I'm looking at, I might want to filter out the ones which have stopped trading at the end of the day. A quick way to do that is to set this to about 15 or 25 pennies. Most stocks, regardless of when the bell rings, will have a small spread when they are being actively traded and a larger spread when people stop trading them. This is a much better way than using your clock to see what's still in play. Again, leaving it blank allows all stocks through. The next filters are min daily volume and max daily volume. This is the average number of shares per day that the stock trades. This is different from the previous few filters because this is an average based on historical data where the previous ones were based on the most recent print. Again, I can set a range. I can say everything between a million shares and ten million shares. Or, I can leave it blank to see everything. Dollar volume is a combination between the price and the average daily volume. Again, it uses the average price over approximately two weeks times the most recent print price. These next two are used in very specific strategies. This is the minimum number of shares on the ask or the bid at the time the alert happens with no filtering or smoothing. This is a quick way to reduce the number of alerts a lot. Min current volume and max current volume are two of the most powerful filters on this system. These compare today's volume to the average volume for this time of day for this stock. A value of one says I'm looking for average volume. In this case, I set my minimum at 1.2. Because this is a market overview window, I only want to see things that are trading slightly above their average volume. Things that are trading less than this just aren't contributing to the overall market status. You can also set these to a maximum value. For example, if a stock has news and is printing a whole lot of alerts, get rid of it. I know this stock is trading at 50 times volume, I just don't care. Alternatively I can say I'm only interested in stocks trading on low volume. Only things which are less than one. This is especially useful if you want to segregate the market. Have one window with the low volume stocks and another window with the high window stocks. And, of course, leaving this blank gives you the most stocks.

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