- Editor Rating
- Rated 4 stars
- Powertrader Pro
- Reviewed by:
- Published on:
- Last modified:
All in all, PowersScan-Pro is a great way to filter stocks that fit one’s strategy. This is great for all time frames: day trade, swing trade, and position trade. The program lacks fundamental data so it is best for technical traders that rely on either price action or technical indicators. The interface is outdated but their support via email is robust and responsive. Ultimately, the downside to PowerScan-Pro is that you must already have technical scans in mind in order to take advantage of this program. This is a program specifically tailored for technical traders that already have some experience with trading and just needs actionable alerts based on technical setups. (price is monthly)
For access to Powertrader-Pro one can pick a one month subscription for $39 or a lifetime subscription for $349. The lifetime subscription includes PowerScan-Pro and Optionality-Pro as well as Permanent subscription to StockVision-2015 and Academy videos. Powertrader-Pro’s website is gasworld.com and there are video on Option Strategies as well as Stock Strategies. Option strategy videos include basics on options and Safe Option Strategies. Stock strategy videos include Powertrader-Pro rollout and two videos on Powertrader Filters. In addition, there is an online eight-part academy on trading that includes: Basics, Charting, Trading Systems, Option Basics, Safe Option Strategies, Large Investment Accounts, Software Tricks, and Money Management. Essentially, there is plenty of educational material to learn how to trade and how to use the Powertrader-Pro software.
The key feature of Powerscan-pro is its ability to scan for different stock setups. On the left there is a long list of setups such:
- AM Gap Down – Use in pre-market. Stocks that will gap down and show recent strength (making them strong bounce candidates).
- AM Gap Up – A pre-market filter. A “gap up” means a stock is set to open higher than its previous close. Gap-ups can be considered for shorting.
- Back to the Future – For swing trading. Stocks that are uptrending on a daily chart but have pulled back.
- Big Buy Volume – Stocks getting above-normal buy volume action today. These are especially significant in an otherwise dull market.
- Bollinger Squeeze (long) – This uses classic Bollinger Bands and looks for stocks ready to make a big run.
- Bollinger Squeeze (short) – This uses the classic Bollinger Bands “squeeze” play but for short selling.
- Breakouts – Stocks breaking above recent resistance. In a positive market, breakouts often advance for several days. Strong volume is a key component.
- Caving – Shows stocks that appear to be breaking below support, hence, much downside could follow. Good for short positions.
- Channel Bouncers – For swing trades. Approaching a strong support level.
- Cheapie Breakouts – Stocks under $7 that are breaking out today.
- Covered Call Choices – Chooses high-volume, decent volatility stocks near their resistance levels.
- Covered Call Finder – Locates the most volatile stocks which generally produce a high premium for calls.
- Daytrade Oversold Bounce – For daytrading. Stocks that are oversold, at support, and bouncing.
- Early Bird Flyers – Stocks that are gapping up and are likely to trigger a big short squeeze, sending them way higher in the early going.
- Early Momentum – Stocks showing strength right now. If market is bullish, these are likely to keep going.
- Gar’s Lunar Bounce – Stocks that are closing near a strong support level, will likely bounce in the AM.
- Gar’s Super Swing – Stocks that appear to be ready for 1-3 day updside.
- Gar’s Superball (bull) – For daytrading. Stocks that have pulled back but showed early strength.
- Gar’s Superball (bear) – For daytrading. Stocks that have moved way up but showed early weakness.
- Heaven’s Sake – Uses the Bollinger-Keltner squeeze to predict huge upside coming soon.
- Lunar Stochastic – Solid Stochastic but time constrained for final 10 minutes of the market.
- Options Lunar Garden – High-volume stocks nearing 100-day resistance levels. Ideal for a crash
- Options Swing – Precision swing-trade detection suited for options trading.
- Overbought – Stocks that appear to be overbought based on Williams %R
- Oversold – Stocks that appear to be oversold based on Williams %R
- Penny Ante – Decent “swing” candidates under $7 per share. Filter uses the MACD histogram as its main indicator.
- Penny Ante Darkside – Decent “swing” candidates under $7 per share but for short selling.
- Picker’s Aroon Cross – When up line (bull) line crosses down (bear) line indicates more upside. Good profit potential for swing to mid term.
- Pits of Hell – Uses the Bollinger-Keltner squeeze to predict huge downside coming soon.
- PSAR Stars – Looks for a PSAR “flip” on a weekly chart.
- Renko Options – Screens stocks that appear to be reversing trend to the upside. Suited for options.
- Rockets – Both daytrading and swing. Stocks busting through resistance.
- Swingset Choices – At lower end of a trend channel. The concept is the stock will likely bounce in this channel.
- Trap Door – Stocks that have spiked WAY lower within the last 60 seconds. Constrained to stocks above $5.
- Weekly Channel Bouncers – Stocks that are right smack on their lower linear regression channel on weekly charts.
For illustration purposes, we selected Breakout and it produced two stocks: IRBT and TRMB:
On top of just one scan you can actually combine scans so we combined Breakouts with Big Buy Volume and produced a longer list. Results are also color coded to see which scan criteria it falls under:
There is also an option scanner and to illustrate, we selected Covered Call Choices which gives us the best stocks to sell covered calls:
Option scanning is appealing because it tailors to option players but what’s lacking is the ability to pinpoint just exactly what strike and maturity to choose for the stock.
For traders that doesn’t find default scanners that meet their needs they can also build their own scanners. The scanning criteria are categorized Highs and Lows, Bars and Histograms, Indicators and Crossovers:
Highs and Lows
Bars and Histograms
Indicators and Crossovers
The beauty of building your own scan is that you can select any of the available scans and build as detailed of a filter as you like. This customization capability is a strong plus for Powerscan-Pro.
Another function on the homepage of Powerscan-Pro is the ability to place stocks into watchlist. There are three ways to add stocks into watchlist, enter tickers one by one, import from a scan, and import from a file.
Lastly, there is a paper-trading function on the bottom right corner of the homepage. This allows traders to add tickers and test their scans in real time without putting capital to work. Example below shows what placing trades after hour looks like. This function is a great way to test out different scanners and see their profitability over time.
Have you had any experiance with Powertrade Pro?
Summary: All in all, PowersScan-Pro is a great way to filter stocks that fit one’s strategy. This is great for all time frames: day trade, swing trade, and position trade. The program lacks fundamental data so it is best for technical traders that rely on either price action or technical indicators. The interface is outdated but their support via email is robust and responsive. Ultimately, the downside to PowerScan-Pro is that you must already have technical scans in mind in order to take advantage of this program. This is a program specifically tailored for technical traders that already have some experience with trading and just needs actionable alerts based on technical setups. (price is monthly)