Warrior Trading Blog

MadScan Review

MadScan Review

MadScan is a powerful scanning software that allows traders and investors to scan the markets and provide you with the data in an easy-to-use format. This gives traders eyes on a much larger part of the market without having to constantly click through charts. The scanner will provide you with alerts based on your parameters for your best setups giving you a huge edge over other traders while providing you with a lot more opportunities through out the day. While keeping in the know by filtering the stock market, they also provide a proprietary news filter that sends out alerts on important news events that has potential to move markets from up/down grades, earnings, takeovers or breaking news happening real time.

You can also utilize their technology to build awesome custom signals for your private algorithm or use their API for black box or grey box trading. Once you have built and back tested a successful trading strategy then you can implement into your trading via their technology. All you have to do is sit back and make sure its working properly. For those of you who do not know what black box trading is, it’s basically a set of rules built as an algorithm that can be implemented into a trading strategy. Once you have defined your rules and risk parameters and back tested it to assure it is a profitable strategy then you can activate it to trade live through your account. The reason this is advantageous is because it takes the emotion out of trading which can really affect traders’ bottom line.


Products & Cost

MadScan has a few different options to choose from with the option for some add-ons. The first option is their free version of their scanning software that requires no credit card that includes full access to all their standard filters and signal alerts with exchange data limited to BATS & EDGX. The download only takes a few minutes to setup and then you’ll be ready to start scanning the markets for possible opportunities. The next version is called MadScan Standard and this is going to run you $74.99 per month to use but you’ll have access to their signals and filtering products with access to exchange data from the NYSE, NASDAQ and AMEX.

The next version after the standard is the MadScan Elite and this will run you $174.00 per month but with this subscription you will get everything from the standard version plus:

  • Real time streaming news
  • Ability to filter any signal or create a watchlist by news category
  • Get FDA, Earnings, Guidance and analyst recommendations
  • Monitor signals or lists based on time since news release occurred

So for the extra $100 per month you get a quite a bit more and I can tell you its worth the extra money. Real-time news is a major bonus because nothing is worse than when you see a stock making a big move and you don’t know why.

MadScan also offers the ability have add-ons for a discounted price if you are a paid subscriber of the Elite package. If you are, then you have option to add Fly On The Wall for an additional $25 per month, Benzinga for $25 per month, Street Insider for $25 per month or 10-k Wizard for just $10 per month. You don’t have to add these on if you don’t want to but they are offered at a great discount compared to normal prices for those services.


Final Thoughts

If you’re a serious trader or an aspiring trader that is looking to make a living then you need to really consider adding a scanning program to your arsenal of tools. I can’t tell you how many opportunities they have provided that I would have normally missed if I wasn’t using them. You can easy make back the monthly cost with the amount of actionable trade ideas they will give you in the month. If you don’t have any scanning software then these are guys are definitely worth checking out. Here is their contact information if you would like to reach out to them for more information.


As always if you have any questions or comments regarding MadScan, please leave us a message below!



Reviews by Warrior Trading


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