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Intraday and swing merchants want a high-quality inventory scanner to seek out alternatives for his or her buying and selling methods in real-time.
Two of essentially the most highly effective scanners in the marketplace are Commerce Concepts and Scanz. Each are constructed for fast-paced buying and selling and supply the flexibleness to accommodate a variety of methods. Nevertheless, they differ in how they strategy scanning and supply completely different instruments that will help you flip concepts into profitable trades.
We’ll evaluate Commerce Concepts vs. Scanz that will help you determine which of those inventory scanning instruments is best for you.
About Commerce Concepts and Scanz
Commerce Concepts launched in 2003 as one of many earliest real-time inventory scanning instruments designed for merchants. The platform doesn’t reveal what number of customers it has, however Commerce Concepts is extensively thought to be one of the highly effective inventory scanners in the marketplace. It was additionally one of many first inventory scanners to include synthetic intelligence when it launched its Holly AI instrument in 2016.
Scanz, previously often known as EquityFeed, launched in 2002, shortly earlier than Commerce Concepts. Greater than 90,000 merchants use the platform at present. The platform underwent a whole redesign in 2019 that made it simpler to make use of and doubled down on the scanner’s give attention to merchants moderately than buyers.
Similarities
Commerce Concepts and Scanz each supply real-time inventory scanners geared toward intraday merchants and swing merchants. Each platforms cater to a variety of methods, providing the flexibleness to create absolutely customized scans utilizing dozens of fashionable technical parameters. Each platforms additionally cowl all US shares, together with OTC shares.
Nevertheless, that’s about the place the similarities finish. The 2 platforms take very completely different approaches to scanning and serving to you see buying and selling alternatives.
Commerce Concepts vs. Scanz: Constructing Customized Scans
The method of constructing a scan in Commerce Concepts and in Scanz is analogous on the floor, however very completely different within the particulars. Each platforms allow you to create customized inventory scans primarily based on dozens of technical and basic parameters. You possibly can mix parameters utilizing and/or logicals to tailor what setups make it into your scan outcomes.
The Commerce Concepts scanner stands out for providing setup-based alerts to construct scans round. For instance, you possibly can construct scans primarily based on parameters like 25% pullback from excessive, Fibonacci 38% purchase/promote sign, and transferring common crossovers.
Scanz gives easier scan parameters primarily based on frequent technical indicators, however you possibly can scan primarily based on how two indicators work together. For instance, you possibly can construct a scan primarily based on a short-term transferring common crossing a long-term transferring common or a worth crossing VWAP. This strategy is extra customizable, but it surely additionally takes slightly extra work to create an preliminary set of strategy-based scans.
Commerce Concepts vs. Scanz: Pre-built Scans
One other distinction between the 2 scanners is that Commerce Concepts gives dozens of pre-built scans, whereas Scanz doesn’t. Pre-built scans in Commerce Concepts can assist you discover bull and bear flags, RSI divergences, three line strike patterns, and extra. Scanz says it has a library of greater than 100 pre-built scans coming quickly, however they haven’t but been launched.
One neat function that Scanz gives, nevertheless, is the Simple Scanner. It is a click-and-go scanning instrument that allows you to shortly filter shares primarily based on primary parameters like market, worth change, buying and selling quantity, quick curiosity, and extra. It’s a very useful gizmo for locating shares making massive strikes on above-average quantity or quick squeeze candidates.
One other instrument inside Scanz is the Breakout Scanner. This scanner gives a working listing of shares setting new highs and lows, breaking above or beneath transferring averages, or buying and selling with higher than common quantity. It’s one other quick strategy to uncover potential commerce setups that aren’t tied to a extremely particular technique.
Commerce Concepts vs. Scanz: Backtesting
One of the highly effective options in Commerce Concepts is its technique backtester. You possibly can apply the backtester to a customized scan to see how that scan technique carried out over a customized time interval. Even higher, Commerce Concepts helps you optimize your technique by displaying you the affect of every parameter and the way your income would improve or lower for those who made tweaks.
Scanz assumes that you have already got a confirmed buying and selling technique and doesn’t supply any instruments for technique growth.
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Commerce Concepts vs. Scanz: Synthetic Intelligence
Commerce Concepts can also be distinctive in leveraging synthetic intelligence to ship actionable commerce concepts. The Commerce Concepts AI, nicknamed Holly, evaluates greater than 60 methods to seek out essentially the most worthwhile trades day by day. You will get commerce indicators in real-time and so they embody entry and exit costs and cease losses.
Scanz doesn’t have any comparable synthetic intelligence instruments or robotically generated buying and selling indicators.
Commerce Concepts vs. Scanz: Brokerage Integrations
Commerce Concepts helps you to commerce straight from the platform with an Interactive Brokers or TradeZero account. Notably, you too can set Commerce Concepts to robotically execute trades from any of your customized methods or primarily based on Holly’s AI-generated commerce indicators.
Scanz doesn’t at present supply brokerage integrations, but it surely says they’re coming quickly. The platform plans to supply integrations for TD Ameritrade, Interactive Brokers, and different fashionable brokers.
Commerce Concepts vs. Scanz: Information Scans
Scanz has a devoted market information scanner that pulls in headlines and tales from greater than 100 sources. It covers main shops like Benzinga, CNBC, Reuters, In search of Alpha, and extra. It additionally tracks SEC filings. You possibly can search current information by key phrase or arrange alerts for particular tickers and key phrases.
Commerce Concepts does embody information, however not in a manner that’s significantly helpful for buying and selling round breaking headlines. When viewing the web page for a person inventory—which incorporates that inventory’s chart and fundamentals—you get a primary feed of current headlines involving that ticker. Commerce Concepts pulls headlines from just a few main newswires, however not almost as many sources as Scanz.
Commerce Concepts vs. Scanz: Ease of Use
There’s an enormous distinction in usability between Commerce Concepts and Scanz.
Commerce Concepts has a really steep studying curve and it’s removed from intuitive. The show might be overwhelming the primary time you utilize Commerce Concepts and it takes a number of days to discover ways to use the platform successfully. The excellent news is that Commerce Concepts has a ton of academic sources together with tutorials, movies, and a web based buying and selling room that will help you discover your manner across the software program.
In distinction, Scanz is extremely intuitive. In the event you’ve used a inventory scanner earlier than, you’ll don’t have any drawback leaping into the software program and creating your first scan. It nonetheless takes a while to arrange a library of customized, strategy-based scans, however the course of feels easy. Scanz additionally has a useful weblog that exhibits you learn how to scan for frequent setups.
Commerce Concepts vs. Scanz: Pricing
Commerce Concepts begins at $84 per thirty days (paid yearly), however that doesn’t embody AI-generated commerce indicators or brokerage integrations. For these options, you’ll want a Premium subscription that prices $167 per thirty days.
Scanz prices $169 per thirty days, plus an extra $15 per thirty days for OTC inventory information.
Which Scanner Is Higher?
Commerce Concepts and Scanz are each wonderful instruments for merchants seeking worthwhile setups. Commerce Concepts stands out as the higher platform for almost all of merchants due to its pre-built scans and wider collection of setup-based filters. It’s additionally a lot cheaper than Scanz for those who don’t want entry to the superior backtesting module or AI-generated commerce indicators.
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That stated, Scanz is a good selection if you would like a scanner with much less of a studying curve or for those who wish to commerce round breaking information headlines. Scanz may work higher than Commerce Concepts for some momentum merchants due to its breakout scanner, though you possibly can simply construct worth and volume-based scans in Commerce Concepts.
Options to Commerce Concepts and Scanz
For a lot of merchants, the largest cause to search for alternate options to Commerce Concepts and Scanz is their value. These are premium inventory scanners, and so they include worth tags.
Among the finest various scanners is FINVIZ, which gives a paid plan with real-time inventory information for less than $24.96 per thirty days. FINVIZ is straightforward to make use of and allows you to scan primarily based on all kinds of worth and quantity metrics and technical indicators.
One other good various is TradingView. Whereas TradingView is finest identified for its technical charts, the scanner can also be fairly highly effective and gives a whole lot of filters. The largest draw back for buying and selling is that outcomes are refreshed each 10 seconds as an alternative of in real-time. You should utilize the TradingView scanner without spending a dime.
Conclusion: Commerce Concepts vs. Scanz
Commerce Concepts and Scanz are two of essentially the most highly effective real-time inventory scanners accessible to merchants. Commerce Concepts stands out for its pre-built scans, backtesting instruments, and AI buying and selling indicators. Scanz gives ease of use and a information scanner for buying and selling round headlines.Take a look at our full Commerce Concepts evaluate and our full Scanz evaluate to study extra about these inventory scanning platforms.
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