Low Float Stock Scanner for ThinkorSwim

I’m a big fan of trading low float stocks, but I also know that finding them on ThinkorSwim is not easy. In fact, you can not do so.

A low float stock is a security with a small number of outstanding shares. That means there are fewer shares in circulation. In plain English, there is more demand than supply, which tends to make low float stocks more volatile.

ThinkorSwim does not report “float” data. Therefore, it would be impossible to scan for low float stocks in ThinkorSwim.

This tutorial will show you two methods of screening for low float stocks. Once you find your candidate, you can plug it into ThinkorSwim and do the rest of your trading there.

Method #1: FINVIZ Screener

Finviz is an excellent website for finding low float stocks. The platform provides live data, charts, and news on thousands of stocks and indices.

Step 1: Go to the Finviz Screener page.

Step 2: Set the Float filter to Under 20M

Step 3: Set the Average Volume to Over 300K

Step 4: Set Price to Under $10

The filters above are merely the framework. If you have your own criteria to scan for low float stocks, then you can modify the screener to fit your needs.

Method #2: Finviz using Shell Script

Because ThinkorSwim does not provide float information, a Reddit user has created a shell script as a workaround.

This script searches Finviz for low float stocks using a pre-defined list of filters. Finally, it creates a watchlist file that you can import into ThinkorSwim.

#!/bin/sh
# Spencer Butler <[email protected]>
# ToS doesn't provide stock float infomation.
# Grab symbols from FinViz that meet your float requirements.
# In ToS Watchlist > Create watchlist > import > select the csv file
# You can then create a scanner and choose this watchlist to "Scan in:".

# Change this to the directory you want to save your watchlists.
outdir="$HOME"

# Choose the fields you want to define (check finviz.com for more choices).
FLOAT='sh_float_o50'           # over 50M
PRICE='sh_price_o5'            # over $5
VOLUME='sh_avgvol_o1000'       # over 1M
RELVOL='sh_relvol_o1.5'        # over 1.5x
ATR='ta_averagetruerange_o1.5' # over $1.50

# Add these fields to your search.
fields="${FLOAT},${PRICE},${VOLUME},${RELVOL},${ATR}"

# These lines shouldn't need to be changed (much).
finviz='https://finviz.com'
start=1
per_page=20
now="$(date +%Y-%m-%d)"

screener='screener.ashx'
endpoint="$screener"
outfile="${outdir}/${now}_${fields}.csv"
[ -f "$outfile" ] && rm "$outfile"

total=$(curl -s "${finviz}/${endpoint}?v=111&f=${fields}&r=${start}" | egrep -o '<b>Total: </b>[[:digit:]]+' | cut -d '>' -f 3)

while [ "$start" -lt "$total" ]; do
    curl -s "${finviz}/${endpoint}?v=111&f=${fields}&r=${start}" | egrep -o '^[A-Z]{1,}\|' | tr -d '|' | tee -a "$outfile"
    start=$(( start + per_page ))
done

echo
echo "Use this URL to check/refine your query."
echo "${finviz}/${endpoint}?v=111&f=${fields}&r=1"
echo
echo "ToS Watchlist > Create watchlist > Import >"
echo "$outfile"

It’s crucial to keep in mind how unpredictable low float stocks are. Less volume is required for a low float stock to change significantly in price.

The first approach demonstrates how to screen for low float stocks using a web-based tool like Finviz. You can switch to ThinkorSwim to perform trend analysis and trading after you’ve found the right ideas.

The second method is similar to the first but requires technical skills. The tool will immediately provide you with a CSV file to import as a ThinkorSwim watchlist.

Happy testing!

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