Scanz Review: EquityFeed changed its name on 9/10/19 to Scanz. We will refer to both names in this review. When I started testing Scanz- EquityFeed, the first thing that stood out was the ease of use of the filter builder. And for good reasons. It was easier to use than most scanners I’ve tried, at least from the point of view of the interface and its workflow. If you’re a total newbie and want to learn the basic scanning steps, you may want to try Scanz – EquityFeed’s filter builder.
Table of Contents
Scanz AKA Equityfeed Review Introduction
This EquityFeed – Scanz review looks at their real-time alerts. What’s impressive with the EquityFeed scans is that the results are quasi-instantaneous even with multiple filters involved. You’re always on top of what’s happening with your stocks because the results are in real time. The market view window of Scanz – EquityFeed allows you to quickly identify hot “live” stocks. For example, you could use this tool to sort the stocks by the number of trades occurring at any time. You can then pick the stocks in play.
Those stocks, for example, have great liquidity and volatility. You can count on multiple arrays of filters to slice and dice your list any way you wish.
Scans incorporate pre and post-market data so that you can be well-prepared before the market opens. Checking the market direction, movement, and sentiment before your trading starts and throughout the day goes along with the territory of trading stocks.
Once you have identified a stock to add to your playlist, a.k.a. watch list, EquityFeed’s chart montage would likely be your next step in digging deeper into the opportunity it may offer.
If you prefer not to look non-stop at your screen while trading, Scanz – EquityFeed trading alerts can notify you based on specific technical using “pattern recognition.
Scanz Review of Workflow
What to analyze (i.e., the analytics)
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- Price
- Volume
- Fundamentals
- Technicals
Select the formula (i.e., the operator)
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- is greater than or equal to
- is less than or equal to
Select the value (in $ or %)
How else can this Scanz review help? Building your scan using multiple filters requires knowledge of indicators and criteria affecting the equities. So, if you are new to trading, the user-friendliness of Scanz-EquityFeed won’t help you until you learn the basics of technical analysis and, to some degree, until you learn the fundamentals.
News Trading With the Streamer
Let’s continue with our Scanz review. For active traders, news catalysts can influence their trade entries and exits, particularly scalpers and pre-market day traders. With Scanz – EquityFeed’s news and filings streamer, you can select the markets you want to monitor and the news type.
The news will appear in real time as it occurs. Scanz-EquityFeed’s reputation greatly precedes theirs when delivering news faster than most services.
As the news appears in the stream window, you can see the stock’s price and current volume. From the filters menu, you can select news based on price range, volume, and other technicals.
If you choose your stocks based on news catalysts, one feature you might like is the Scanz – EquityFeed’s keywords and key phrases scanner within the news streamer window. Here’s an example of a dozen hot keywords you could watch for using the feature: awarded, successful, positive, FDA approval, cancer, breakout, acquisition, launches, promising, contract, achieve, receive, etc. Check out a list of the top trading companies.
Scanz Review of Personal Lists and Alerts
Over the years, I have watched many pros in action, and one thing that many have in common is an ongoing watch list of preferred stocks they like to trade.
It’s like a carryover list of stocks that you constantly monitor for opportunities. Scanz – EquityFeed personal watch lists and personal alerts will monitor you.
It’s doing it by considering news that can make your stocks move. If you own a stock portfolio, you must have a personal watch list with proper alerts. That way, you can react quickly to events that may negatively affect your portfolio.
Regarding your portfolio, you need to know that Scanz can connect to some brokers, allowing you to trade directly from EquityFeed – Scanz or at least monitor your brokerage accounts.
Beginners or Experts?
If you’re a novice trader, it’s normal that when you start looking for a good stock scanner/screener/filter, you get a little lost among all the alternatives available. You’re wondering, “Should I use thinkorswim, TC2000, Trading View, or StocksToTrade…” and the list goes on.
If you’re an experienced trader, it’ll be hard not to like EquityFeed. But will experienced active traders prefer EquityFeed over the numerous others?
This Scanz review is not so sure. There are many options, like Trade-Ideas and, for less money, Finviz Elite. There is no doubt, however, that choosing the right scanner for you involves trying a few.
Trial
Trying Scanz for a couple of weeks will at least inform you of what types of scans are available. Just keep in mind that having too many stocks on your list can lead to analysis paralysis.
Maybe go for a dozen stocks. Practice slicing and dicing a list to boil it down to the best picks. Here’s a typical scan I ran when I got started:
- Stocks on NASDAQ, NYSE or AMEX,
- that are less than $20,
- with volume greater than 100K,
- a 10% + change since the last close,
- and a 30% + ownership by institutions.
This type of scan should yield over a dozen stocks to look at. I should say over a dozen charts to look at because having a list is one thing. Analyzing the price action is where the rubber meets the road.
The bottom line of this Scanz review is that Scanz can feed you equities with the charts to analyze. However, you will still need to understand charting and develop a strategy that works for you – and you can lean on the training you get here at Bullish Bears to help you out.
Take our trading courses to learn how to trade the stocks you find on your scans.
Scanz AKA Equityfeed Pricing Review
Here is a Scanz review of their pricing. SCANZ, previously known as EquityFeed, offers a 14-day free trial for one day. If you sign up for the paid membership, it’s $169 a month. For \$15 a month you can add on OTC markets as well.
Since around 2002, EquityFeed has been offering solutions for day traders. Over the years, they’ve used the latest technology to develop, design, and evolve their scanning platform.
What they’ve done better than most, in my opinion, is keeping the setup and interface user-friendly despite the sophistication of their scanner.
What may stop you from subscribing to EquityFeed isn’t the quality of the product but the cost of it, especially if you’re new to trading and need training.
Do you want to pay $169 a month for a scanner? And if you want to trade penny stocks, you’ll add another $15 on top of that, bringing it to $184 monthly for the scanner and OTC markets.
Final Thoughts: Scanz Review
You’ll read on Scanz’s website, hence this Scanz review, that they’re offering to transform you into the most efficient and profitable trader you’ve ever been! You’ll also notice that they changed their name from EquityFeed to Scanz because they’re inspired by what they do.
If you’re starting as a trader and haven’t found a good scanner, it may look like an easy promise for them to fulfill. But it is not that simple. No matter how good the scanner is, you must know what to look for. Then, you have to know how to interpret the information.
Frequently Asked Questions
Scanz, aka EquityFeed, is $169 a month. If you'd like to see the OTC markets, that'll be a $15 per month add-on.
Stock scanners are a great tool to find stocks to trade. Hence our Scanz review. However, you need to know how to read charts to make sure you didn't miss the move that popped up on the scanner.
Scanz is a great day trading tool. They do work, but you need to make sure what they offer works for you.
It doesn't look like Scanz has a mobile app. You'll need a desktop to use their product.
