Ease of Use
MOMO is a real-time market scanner developed and designed for momentum traders. This scanner offers in-depth looks at stocks setting new intraday highs and lows to help momentum traders find the right opportunities. MOMO also includes features such as alerts, market meters, and custom filters. Read our MOMO review now to learn more.
MOMO is a real-time market scanner designed for momentum trading. It offers a look at all stocks setting new intraday highs and lows to help day traders identify potential trading opportunities. The platform also supports custom filters and alerts tto help you stay on top of the latest changes in the market.
So, is MOMO right for you? Our MOMO review will cover everything you need to know about this platform.
MOMO Pricing Options
MOMO offers three pricing tiers: Momo, Momo Pro, and Momo Pro+.
The Momo plan costs $17 per month and doesn’t include the Discovery Pro scanner or alerts based on a stock’s trading volume, distance from VWAP, or price change.
The Pro plan costs $27 per month and includes the Discovery Pro scanner as well as some other helpful scanning tools (more on this later).
The Pro+ plan includes everything in the Momo and Pro plans as well as conditional alerts, advanced indicators, and an API.
Annual plans are available at a 20-25% discount and all plans offer a 5-day free trial.
MOMO offers breadth meters for the Dow, Nasdaq, and S&P 500 indices. The meters use a heatmap-like display to show the number of stocks in each index hitting intraday highs and lows over a 3-minute moving average.
The meters offer a simple way to keep track of intraday momentum. However, it would be great if MOMO also tracked how the frequency of intraday highs and lows is changing throughout the day to give a bigger-picture view of how a session is going. As it stands, there’s no context about what has happened outside the 3-minute window captured by the meters.
Intraday High and Low Scanner
The real-time intraday high and low scanner is one of the more powerful features within MOMO. It’s a nonstop stream that shows every stock hitting new lows in a left-hand column and every stock hitting new highs in a right-hand column. The scanner also shows the number of times that symbol has hit a new high or low during the current session and uses highlighting to indicate when a stock is also hitting a 52-week high or low.
You can customize what stocks the scanner displays based on price, volume, and market sector. In addition, you can create a second stream view that’s filtered according to a custom list of stocks. You must upload the list as a CSV with all the ticker symbols you want to include in the real-time scan.
The Discovery scanner is MOMO’s most powerful feature and is only available to Pro users (which makes the upgrade worth it). This scanner offers far more real-time information about stocks than the intraday high and low scanner while retaining the same emphasis on helping you find stocks with strong intraday momentum.
With the Discovery scanner, you can sort stocks based on a custom momentum score that measures the number of new intraday highs versus the number of intraday lows. It’s a simple but effective metric to find stocks that keep setting intraday highs or lows. In addition, the scanner lets you sort stocks by a stock’s distance from its VWAP, money flow, trading volume, and float.
Two additional indicators help you find stocks that could be good opportunities for trading. The unusual volume indicator compares trading volume during a 15-minute period to the average volume during that same 15-minute period over the last 30 days. In effect, it takes the concept of looking for stocks with above-average trading volume and translates it to intraday trading.
The squeeze indicator is a unique indicator that identifies stocks that may be susceptible to short squeezes. This is a unique tool that we’ve only seen in the ShortSqueeze paid subscription before.
The Squeeze indicator has three categories: Squeeze Now, Squeeze Pre, and Squeeze Post. The categories help traders determine where in the “squeeze” pattern a stock currently is. The indicator also includes a “squeeze strength” value for more details on the timeframe of the squeeze. This can be helpful for traders who want to approach the squeeze play in different ways (i.e. anticipating a breakout or shorting a breakdown). The Squeeze metrics are defined algorithmically based on volume, price change, and float. Like any algorithmic indicator, the data is not perfect but it provides a great starting point for identifying potential trade candidates.
The Discovery scanner can be filtered based on the market sector or your favorite stocks. You can also create custom filters based on any of the columns in the data table. The data is automatically updated every minute.
The data from the Discovery scanner can also be exported to a CSV file if you want to do further analysis in Excel or Google Sheets (works well with MarketXLS).
MOMO lets you turn on alerts for any stock. By default, it displays five different alerts:
- Intraday high and low alerts
- Unusual volume alerts
- VWAP distance alert
- Price change alert
- Halted trading alert
You can also create more customized alerts using conditional settings.
You can keep track of triggered alerts in the “Alerts” window of the platform.
You can also set voice alerts, which is particularly helpful for active traders who have a dozen windows open at any given moment.
Customization and Layout
All of the data available in MOMO is displayed on a single dashboard page. You can toggle any of the modules on or off to streamline your dashboard, but there’s no way to rearrange them.
There are no watchlists on the platform, but you can “favorite” stocks and see them throughout the platform (indicated by a star).
MOMO Platform Differentiators
MOMO offers real-time scanners to help you find stocks with intraday momentum. The scanners are purpose-built and offer only a minimal amount of customization in the form of stock and data filters.
The main differentiator within MOMO is the Discovery scanner, which is only available to Pro subscribers. It gives you actionable information to find trading opportunities, including details about how far a stock’s price is from its VWAP and how many times a stock is hitting new intraday highs or lows. The Discovery scanner’s unusual volume and squeeze indicators are also unique and can be very helpful in identifying potential trading setups.
One thing that we’d like to see MOMO add is basic technical charts. While the platform is clearly intended to be used in conjunction with a dedicated trading platform, having simple candlestick charts within MOMO would be a major timesaver when combing through hundreds of potential setups.
MOMO appears to be actively developed, with new features rolling out regularly, so we are looking forward to see what else is in store.
What Type of Trader is MOMO Best For?
MOMO is best for day traders who focus on trading momentum stocks. The platform’s scanners make it easy to spot stocks that are setting intraday highs and lows while trading with unusual volume or moving away from their VWAP.
While MOMO is very simple to use, it’s best suited for advanced traders who are comfortable quickly analyzing setups in a dedicated trading platform. MOMO may offer hundreds or thousands of signals a day, and it’s up to individual traders to decide which ones to act on.
The platform is entirely focused on real-time intraday data, so it doesn’t make much sense for swing traders or anyone with multi-day trading strategies.
- Easily track momentum at the index level
- Filter the intraday high and low scanner with a custom list of stocks
- Unique momentum, volume, and squeeze indicators
- Alerts based on volume, distance from VWAP, and price change
- Relatively affordable subscription
- Doesn’t offer any built-in charts
- No watchlists