How to Scan for Momentum Trading Opportunities in TradingView: A Professional Trader's Complete System

Master the art of finding high-probability momentum trades using TradingView's powerful scanning tools and proven chart patterns

Finding the best trading opportunities on the ASX can feel overwhelming when you're faced with over 2,000 listed companies. How do professional traders consistently identify the stocks with the highest probability of strong gains? The answer lies in a systematic scanning process that combines technical analysis, pattern recognition, and disciplined list management.

In a detailed walkthrough, Charles Boyd from Foreshore Capital shared his complete process for identifying momentum trading opportunities using TradingView. This isn't theoretical—it's the same methodology he uses daily to manage his fund and maintain a focused watchlist of just 15-30 high-probability setups.

The Foundation: Training Your Chart Eye

Before diving into the technical scanning process, Charles revealed a crucial first step that most traders overlook: training your chart eye through pattern recognition.

Building Model Books from Mark Minervini's Tweets

Charles has compiled extensive "model books"—thick binders containing hundreds of chart examples from Mark Minervini's tweets. These charts all share remarkably similar characteristics:

The Consistent Pattern:

1. Strong uptrend with larger moving averages above smaller ones

2. Consolidation phase where the stock trades sideways

3. Brief pullback within the consolidation

4. Breakout to new highs with expanding volume

"It's quite remarkable how similar these charts are," Charles explains. "He's clearly looking at the top right of the chart. He's not looking for bottom fishing. And I've found that buying the top right has worked best for me."

This systematic pattern study creates what traders call "chart eye"—the ability to quickly recognise high-probability setups amongst hundreds of charts. It's the difference between scanning aimlessly and scanning with purpose.

The Core Philosophy: Stock Runs Up, Trades Sideways, Pushes, Comes Back, Then Goes Again

This rhythm appears repeatedly in the strongest momentum stocks. Understanding this pattern is essential because it helps you identify stocks at the right point in their cycle—after the initial run, during the consolidation, and before the next expansion.

The TradingView Scanning Process: Step-by-Step

Starting From Scratch

Charles demonstrated building a scan from a blank canvas, showing exactly how to filter the entire ASX market down to the most promising opportunities.

Step 1: Set Basic Parameters

Open TradingView's Stock Screener and configure:

• Market: Australia

• Market Cap: Minimum $100 million (Charles typically uses $300M-$2B for his fund, but $100M works for broader screening)

• Price: Minimum $0.20 (eliminates extreme penny stocks with poor liquidity)

"I don't really like anything less than 10 cents, but we'll put it at 20 cents for this exercise," Charles notes.

Step 2: Focus on Performance

This is where most traders make their first mistake—they get distracted by valuation metrics, profitability ratios, and dividend yields. Charles cuts straight to what matters for momentum trading:

"I just want to look at the best performing stocks."

Navigate to the Performance filter and examine these critical timeframes:

• Today's movement (intraday momentum)

• Weekly performance (short-term strength)

• 1-month performance (recent trend)

• 3-month performance (primary scanning period)

• 6-month performance (longer-term leaders)

Step 3: Sort and Create a Scannable List

Here's a TradingView feature many traders don't know about:

1. After setting your filters, click the button that converts your results into a scrollable list

2. This allows you to quickly flip through charts one by one

3. Each stock displays with its chart already loaded

"Now we've got a list that we can make," Charles explains, showing how this transforms hundreds of potential stocks into a reviewable format.

The Art of Rapid Chart Evaluation

With your filtered list displayed, the real skill begins: rapidly evaluating charts to identify the Mark Minervini-style patterns.

What You're Looking For

As Charles toggles through charts, he applies a rapid-fire assessment:

Immediate Disqualifiers:

• Parabolic spikes followed by sharp declines

• Extended periods below the 50-day moving average

• Broken support levels with increasing volatility

• Declining volume on attempted rallies

Strong Candidates:

• Clear uptrend with higher highs and higher lows

• Consolidation phases with tightening price range

• Volume expansion on breakouts, contraction during consolidation

• Moving average support (20-day and 50-day) holding firm

• Recent push to new highs or approaching previous resistance

The Colour-Coding System

When Charles identifies a promising chart, he doesn't add it to a single massive watchlist. Instead, he uses TradingView's colour-coding feature to create tiered lists:

Purple List: Resources/Commodities Stocks in the resources sector that meet his criteria

Blue List: Emerging Leaders Stocks showing strong performance but not yet established leaders (like Forrestania Resources in his example, which had rallied from 7 cents to 60 cents)

Other Colours: Momentum Leaders Established strong performers with consistent patterns

"I click on this button up here, and it'll come up with the colours. I click it on the purple and all of a sudden it pops up on this list," Charles demonstrates.

The beauty of this system is that you can instantly filter by colour to focus on specific types of opportunities during different market conditions.

Building Your Core Watchlist: Quality Over Quantity

Here's where Charles's approach diverges sharply from many momentum traders who accumulate hundreds of stocks on their watchlists.

The 15-30 Stock Rule

"I try and keep it to probably 15 to 30. Once it gets above 30... you've got to be able to work out if you're looking at the 56th stock, is it really the best stock that you should be buying?"

This constraint forces discipline. If you want to add a new stock, you need to remove one that's no longer meeting your criteria. It keeps your focus razor-sharp on only the highest-probability setups.

The Practical Reality:

• You can't effectively monitor 100+ stocks

• The best opportunities are always in the top performers

• Deep knowledge of 20 stocks beats shallow knowledge of 200

The Two-Phase Scanning Approach

Charles runs his scanning process across two timeframes:

Phase 1: Three-Month Performance Captures stocks in strong recent trends, identifying emerging leaders early in their momentum phase.

Phase 2: Six-Month PerformanceIdentifies established leaders with proven staying power, stocks that have maintained strength over an extended period.

"I will do it for the same for the six-month stocks," Charles explains, toggling between the timeframes to build a comprehensive view of both emerging and established momentum.

Real-Time Monitoring: The Intraday Component

Scanning isn't just a pre-market activity. Charles revealed a crucial intraday process that helps catch breakouts as they happen.

The Today's Movement Filter

"The other thing that I do, and this is more so during the day, I'm constantly looking at the best stocks today."

By filtering for the day's top performers, you can:

• Identify stocks beginning new momentum phases

• Catch early-stage breakouts from consolidations

• Spot which sectors are showing relative strength

• Add new names that weren't on your radar

"If a stock's going up today, I want to be looking at it because quite often as we know, if a stock starts running really hard, it can push for quite some time."

This is particularly valuable because many of the strongest momentum runs begin with a powerful breakout day that announces the stock's intentions to the market.

List Maintenance: The 50-Day Moving Average Rule

Accumulating stocks is easy. Culling your list requires discipline and clear rules. Charles's primary criterion is elegantly simple: the 50-day moving average.

Understanding the 50-Day MA as a Profitability Indicator

Charles reframes the 50-day moving average in a way that makes its significance immediately clear:

"I look at the 50-day moving average really simply—it's 50 of the last trading days. There's roughly 22-23 trading days in a month. So the 50-day average to me is: over the last two months, is the average punter making money or losing money?"

Key Insights:

• Above the 50-day MA: The average trader who bought in the last 2 months is profitable

• Below the 50-day MA: The average trader who bought in the last 2 months is underwater

"If it's trading above the 50-day moving average, the average punter is making money. For example, right now in ELS, the average punter or investor over the last two months is now underwater."

The Removal Criteria

Charles allows some flexibility around moving averages—stocks can touch or briefly undercut them. But his rule is clear:

"If it spends more than 3 to 5, maybe 10 days trading below a major MA, I don't want to be in it."

This prevents the common mistake of holding onto former momentum leaders as they deteriorate into extended corrections or outright downtrends.

The 20-Day MA for Shorter-Term Context

Charles also references the 20-day moving average (approximately one month):

"The 20-day moving average is typically—if there's 22 average trading days in a month—is the average investor over the last month making money or not?"

This provides a shorter-term gauge of momentum and helps identify stocks pulling back to support within otherwise strong uptrends.

Cross-Referencing: The Power of Validation

One of Charles's most valuable insights came when discussing how he validates his list:

Comparing with External Momentum Lists

"One thing that I see time and time again is that I'll also cross-reference my list with your list in terms of what you send out on a Thursday."

Christopher Aaron publishes a Top 30 momentum stocks list and a Launchpad list (stocks pulling back but maintaining strength). Charles uses these for validation:

When a stock appears on both lists:

• "It makes me sit up a little bit straighter and go, 'Okay, I need to do a bit more homework on this stock.'"

• Confirms that the stock is showing strength across multiple methodologies

• Increases confidence that you've identified a genuine momentum leader

Understanding momentum duration: "How long does a stock stay on average in the top 30?"

If it's a true momentum leader, it can stay in the top performers for 30-40 days within a three-month period—far longer than most traders expect.

This creates a valuable principle: Leaders lead longer than we anticipate. When you identify a genuine momentum leader, don't be too quick to dismiss it just because it's already had a strong run.

The Complete Daily Workflow

Bringing it all together, here's Charles's systematic approach:

Pre-Market Routine

1. Review US markets to identify sector trends that may flow through to the ASX

2. Check existing watchlist (15-30 stocks) for setup developments

3. Know your stocks - 80% of what you'll potentially trade should already be researched

"I already know what stocks I'm looking at. I already know 80% of the stocks that I'm looking at, if I'll be buying them or not or if they're on the watchlist."

Morning Scanning Process

4. Run 3-month performance scan in TradingView

5. Toggle through results applying chart eye to identify patterns

6. Colour-code promising candidates into appropriate lists (emerging leaders, momentum leaders, resources)

7. Run 6-month performance scan to identify established leaders

8. Add stars to key stocks for quick navigation

Intraday Monitoring

9. Check today's top performers regularly throughout the day

10. Monitor existing watchlist for setup completions (tightness, volume, breakouts)

11. Toggle between charts looking for the "tightness" that precedes breakouts

12. Look for volume patterns (contraction during consolidation, expansion on breakouts)

Evening Review and Maintenance

13. Remove stocks below the 50-day MA for more than 3-10 days

14. Research new additions that appeared on multiple scans

15. Cross-reference with external momentum lists for validation

16. Plan potential entries for stocks approaching breakout points

The Psychology: Keeping It Simple

Throughout the discussion, Charles emphasised a counterintuitive approach: simplicity over complexity.

"I've gone down the rabbit hole before, having heaps of checklists, but I try and keep it as simple as possible because it's not possible to be at the desk every single day. So if you're away from the desk, you can still stick to the process."

Why Simplicity Matters

Complex systems fail when:

• You're travelling or away from your desk

• Market conditions change rapidly

• You're managing multiple positions

• Emotional pressure increases during drawdowns

Simple systems succeed because:

• They're repeatable under any condition

• They're memorable without constant reference

• They require less mental energy to execute

• They allow faster decision-making

Charles's entire system can be summarised in just a few rules:

1. Scan top 3-month and 6-month performers

2. Look for the specific chart pattern (run up, sideways, push, pullback, breakout)

3. Maintain 15-30 stock focused watchlist

4. Remove anything spending significant time below the 50-day MA

5. Cross-reference with external validation

Statistical Validation: Why This Works

Christopher added crucial statistical context that validates Charles's approach:

"We know from studying statistically on the ASX, particularly the last 12 months, if your trade originates above the 50-day moving average, it's two and a half times more likely to rally 10% than if it's under."

This isn't opinion or theory—it's quantifiable edge derived from analysing thousands of ASX trades. By focusing exclusively on stocks above the 50-day MA, you're automatically improving your probability of success by 150%.

The Launchpad Dimension

Christopher's Launchpad list identifies another pattern: the best momentum stocks typically only appear on the pullback list for 2-3 days within a month before resuming their trend.

"If they're a good performer, they're probably only going to be on the Launchpad two or three times within the last month, and then they're going to hit their stride again."

This creates a timing opportunity: when a stock from your momentum leaders list appears on a pullback list, it's often an optimal re-entry point before the next leg higher.

Practical Implementation Tips

Start Small

Don't try to implement this entire system at once. Begin with:

1. Build one model book page with 10-15 Mark Minervini chart examples

2. Run a single 3-month scan focusing on just finding one good setup

3. Create your first colour-coded list with 5 stocks maximum

4. Practice the 50-day MA rule on existing holdings

Leverage TradingView Features You May Not Know

• Custom colour lists for categorising opportunities

• Star function for quick navigation between key stocks

• List view mode that allows rapid chart flipping

• Performance filters across multiple timeframes simultaneously

• The conversion button that transforms scan results into reviewable lists

Create Your Filtering Sequence

Everyone's optimal filters will differ slightly based on their trading style, but the sequence matters:

First Filter: Size and Liquidity

• Market cap (prevents micro-caps with liquidity issues)

• Minimum price (eliminates extreme penny stocks)

Second Filter: Performance

• Focus on winners, not value traps

• Multiple timeframes provide different perspectives

Third Filter: Chart Pattern

• Your trained chart eye becomes the most important filter

• No amount of screening will replace pattern recognition skills

Common Pitfalls to Avoid

1. List Accumulation Syndrome

Starting with 10 stocks, adding more weekly, never removing any until you have 300+ stocks you can't effectively monitor.

Solution: Enforce the 15-30 maximum. Want to add a new stock? Remove one that's no longer acting right.

2. Ignoring the Moving Average Rule

Hoping that a stock breaking below the 50-day MA will quickly recover, holding it as it deteriorates further.

Solution: Respect the 3-10 day rule. If it's spending extended time below major moving averages, it's telling you something has changed.

3. Chasing Parabolic Moves

Seeing a stock up 50% in a week and jumping in at the top, only to watch it reverse sharply.

Solution: Look for the rhythm (run up, sideways, push, pullback, breakout), not just anything going up fast.

4. Over-Complicating the Process

Adding dozens of indicators, trying to scan for 15 different criteria simultaneously, creating unwieldy checklists.

Solution: Remember Charles's philosophy—keep it simple enough that you can execute it anywhere, anytime.

5. Neglecting the Chart Eye Training

Jumping straight into scanning without first studying what successful setups actually look like.

Solution: Build your model book first. Study 100 successful momentum trades before trying to find your own.

Advanced Considerations

Sector Rotation and Thematic Awareness

While Charles focuses on individual stock patterns, he noted the importance of monitoring US market sectors: "I'll run through the US markets to see what sectors are probably going to have the movements."

Why this matters:

• Momentum stocks rarely rise in isolation

• Strong sectors create multiple opportunities

• Thematic trends can persist for months

• Sector awareness improves position sizing decisions

Christopher highlighted this in his comment about maintaining a market thematic: "Understanding the Importance of a Market Thematic for Strong Performance."

Volume Analysis Beyond the Basics

While Charles looks for volume expansion on breakouts and contraction during consolidation, advanced practitioners watch for:

• Volume dry-ups at the end of consolidations (the "spring" is loaded)

• Volume signatures on pullbacks (selling vs. profit-taking)

• Relative volume compared to the stock's own history, not just absolute levels

The Emerging vs. Established Leader Distinction

Charles's use of different colours for emerging versus momentum leaders reflects an important strategic consideration:

Emerging Leaders (Forrestania Resources example: 7 cents to 60 cents)

• Higher potential gains

• Higher volatility and risk

• Require closer monitoring

• May not sustain momentum

Established Momentum Leaders

• Proven staying power

• Often less volatile

• May offer multiple entry opportunities

• Typically higher liquidity

Your list should contain both, with position sizing adjusted accordingly.

The Winning Mindset: What Makes This System Work

The technical aspects of scanning are important, but Charles and Christopher both emphasised psychological elements that separate successful momentum traders from the majority:

1. Discipline Over Discretion

"If it spends more than 3 to 10 days trading below a major MA, I don't want to be in it."

This isn't a suggestion—it's a rule. The winning trader follows the rule even when the stock "looks" like it might come back.

2. Opportunity Focus, Not Holdings Focus

Many traders become emotionally attached to positions. Charles's approach flips this:

"I want to be looking at stocks that have this style setup... If I can build out 10 to 20 names or even five names that have a chart set up like this and they've got volume, fantastic."

He's focused on finding the next opportunity, not defending existing positions.

3. Comfortable with Concentrated Conviction

Maintaining just 15-30 stocks on your watchlist (when thousands are available) requires conviction that your filtering process works. This confidence comes from:

• Systematic pattern study (the model books)

• Statistical validation (the 2.5x success rate)

• Cross-referencing with external sources

• Consistent execution of the process

4. Patience for Setup Completion

"I'm just literally flicking through and waiting and looking for a setup where, say for example NTM, is this a buy signal? And this comes down to the strategy."

Charles doesn't force trades. He waits for his specific setup to complete, understanding that patience dramatically improves his hit rate.

Measuring Success: What to Track

To ensure your implementation of this system is working, track these metrics:

Key Performance Indicators

1. Win rate on stocks above 50-day MA vs. below

   • Target: 2.5x better performance as Christopher's research suggests

2. Average holding period for winners

   • Leaders should stay on your list 30-40+ days in a quarter

3. Watchlist turnover rate

   • Too high = chasing, too low = not culling dead wood

   • Sweet spot: 20-30% monthly turnover

4. Time from identification to breakout

   • How early are you catching the momentum phase?

   • Goal: Add stocks during consolidation, not after breakout

5. Validation rate with external lists

   • What percentage of your stocks appear on other momentum rankings?

   • High correlation = your filtering is working

Conclusion: A Complete System for Consistent Momentum Trading

Charles Boyd's scanning methodology isn't about finding every potential winner—it's about efficiently identifying the handful of stocks that offer the highest probability of strong, sustained momentum moves.

The system works because it combines:

1. Pattern Recognition Training

• Building chart eye through systematic study

• Creating model books of proven setups

• Developing instinct for the momentum rhythm

2. Efficient Filtering

• Starting with size and liquidity requirements

• Focusing on performance across multiple timeframes

• Creating a manageable, reviewable list

3. Disciplined List Management

• Maintaining 15-30 stocks maximum

• Enforcing the 50-day MA removal rule

• Colour-coding for different opportunity types

4. External Validation

• Cross-referencing with momentum rankings

• Confirming patterns with multiple methodologies

• Leveraging collective intelligence

5. Simplicity and Repeatability

• Executable from anywhere

• Minimal decision trees

• Clear rules that don't require constant reference

As Christopher noted in closing, "All of the things that you've just broken down there from a charting eye perspective I completely agree with." When multiple successful traders, using different starting points, arrive at the same conclusions about what works, it's worth paying attention.

The question isn't whether momentum trading works—the ASX statistics prove it does. The question is whether you'll implement a systematic process to consistently identify these opportunities before they're obvious to everyone else.

Charles's answer is clear: train your eye, build your filters, maintain discipline, and keep it simple. The market will do the rest.

Implementation Resources:

For those serious about implementing this system:

• Build a Mark Minervini model book by cataloguing successful momentum stocks from the past 5 years on the ASX (See out playlist of Model Books starting here: https://youtu.be/5JlSsO8F0SQ

• Set up TradingView with the specific filters discussed (market cap $100M+, price $0.20+, performance sorting or similar)

• Create your colour-coded lists (emerging leaders, momentum leaders, sector-specific)

• Subscribe to external momentum rankings for validation (like Christopher's Top 30 list)

• Track your results meticulously to prove (or disprove) the system for your own trading

The tools are available. The patterns are proven. The only question is whether you'll put in the work to make the system your own.

Watch how members use Thursday's 3030 List to identify the best momentum stocks before market close, giving them first-mover advantage on ASX leaders

Educational Disclaimer: This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results. Consider your financial situation and seek professional advice before making investment decisions. Disclaimer:  Finer Market Points Pty Ltd, CAR 1304002, AFSL 526688, ABN 87 645 284 680. This general information is educational only and not financial advice, recommendation, forecast or solicitation. Consider your objectives, financial situation and needs before acting. Seek appropriate professional advice. We accept no liability for any loss or damages arising from use.