Setting up a Pre Filter Exploration

A question that I get from some of my new business partners is how can I build a list of stocks that are between $5 and $50 and have a volume of at least a certain number.  The idea is to build a list you can scan against regularly and weed out the securities that you wouldn't be interested in.

Putting together an exploration like this is really easy, and my goal here is to show you how to do it.  

You'll want to start in the Explore tab of the Power console.  On the Explorations tab, you will want to right click and choose "New Exploration."  

This will open up a dialog box that will allow you to create your Exploration.  

The real fields you need to worry about are Name, notes and Filter.  In this case, I've named this as Jeffs Prefilter Exploration.  I expect you to name it whatever you want to.  

I do recommend adding some items in the Notes field as this will make it much easier for you to remember the purpose of your Exploration down the road. 

For the filter column we will look for the close of the security to be above 5 and less than 50 and for the volume to be greater than 250,000.  Of course you can easily change these values to fit your actual trading style.  

The code you'll use is very simple.  You will click on the Filter Tab and choose 

Close > 5 and Close <50 and Volume > 250,000

Once you are done, everything should look similar to your the screen above.  Simply click OK and you are ready to run your new Exploration against the list of your choice.  

I would recommend saving your list when you are done with the exploration.  This way you can just choose to scan the new list with the explorations you normally use.  

If you run into any issues with this, feel free to reach out to our help team.  I get great feedback on our support and you can reach them at www.metastock.com/customer

Happy Trading

Jeffrey Gibby

Head of Business Development

About the author:  

Jeffrey Gibby has been working for MetaStock for over seventeen years. He is currently in charge of global business development and works to create new MetaStock distributors and partners worldwide.

Mr. Gibby works with training companies to help people learn the power of MetaStock. He has spoken to traders from around the world and has trained people on how to use the software and trade various markets. Among his areas of responsibilities are the management of new products and services for MetaStock and creating strategic partnerships.