ThinkorSwim Stock Hacker scan settings for backtested setups
Every SetupHits screen has a thinkScript version for ThinkorSwim's Stock Hacker, ranked here by backtested 5-day hit rate.
Test: 518 S&P 500 + Nasdaq-100 stocks, 2021-10-13 to 2026-10-12, each signal held 5 trading days. Hit rate = share of signals that closed higher 5 days later.
Ranked by 5-day hit rate
| # | Screen | Hit rate | Avg 5d | SPY 5d | Max DD | Signals |
|---|---|---|---|---|---|---|
| 1 | RSI(14) Oversold Mean Reversion | 57.9% | +0.88% | +0.85% | -29.9% | 22,196 |
| 2 | 10% Weekly Drop Mean Reversion | 57.3% | +1.45% | +0.94% | -49.4% | 13,900 |
| 3 | Death Cross Momentum | 55.6% | +0.60% | +0.43% | -21.3% | 2,006 |
| 4 | Gap Down Reversal Gap | 55.2% | +1.09% | +0.77% | -35.0% | 4,524 |
| 5 | Close Below Lower Bollinger Mean Reversion | 54.4% | +0.54% | +0.60% | -21.9% | 30,739 |
| 6 | Gap Down Continuation Gap | 53.9% | +1.47% | +0.45% | -33.8% | 2,271 |
| 7 | RSI(2) Oversold Bounce Mean Reversion | 53.9% | +0.41% | +0.32% | -22.8% | 34,000 |
| 8 | Hammer at 20-Day Low Mean Reversion | 53.6% | +0.38% | +0.30% | -24.1% | 6,814 |
| 9 | Three Down Days Above 200 SMA Mean Reversion | 53.5% | +0.42% | +0.31% | -24.0% | 33,176 |
| 10 | Inside Day in Uptrend Breakout | 52.8% | +0.25% | +0.21% | -28.1% | 41,269 |
| 11 | Unusual Volume Selloff Unusual Volume | 52.8% | +0.50% | +0.56% | -33.6% | 2,445 |
| 12 | 52-Week High Breakout Breakout | 52.3% | +0.47% | +0.17% | -39.4% | 3,958 |
| 13 | EMA Stack Trend Momentum | 52.3% | +0.20% | +0.21% | -24.1% | 21,332 |
| 14 | NR7 Breakout Breakout | 52.3% | +0.10% | +0.14% | -25.0% | 32,672 |
| 15 | Pocket Pivot Unusual Volume | 52.2% | +0.26% | +0.19% | -25.4% | 45,525 |
| 16 | Unusual Volume Up Day Unusual Volume | 52.1% | +0.66% | +0.37% | -49.6% | 1,813 |
| 17 | 3-Month Momentum Leaders Momentum | 51.9% | +0.41% | +0.23% | -30.0% | 59,212 |
| 18 | Golden Cross Momentum | 51.9% | +0.22% | +0.23% | -29.0% | 1,932 |
| 19 | RSI(14) Overbought Momentum | 51.8% | +0.22% | +0.07% | -37.6% | 44,280 |
| 20 | 20-Day Donchian Breakout Breakout | 51.8% | +0.16% | +0.17% | -22.0% | 48,592 |
| 21 | Bollinger Squeeze Breakout Breakout | 51.5% | +0.16% | +0.23% | -46.4% | 2,456 |
| 22 | Relative Strength vs SPY Momentum | 51.3% | +0.33% | +0.18% | -30.6% | 24,211 |
| 23 | MACD Bullish Cross Above Zero Momentum | 50.5% | +0.04% | +0.17% | -26.2% | 10,554 |
| 24 | Big Up Day (+5%) Momentum | 50.5% | +0.39% | +0.19% | -46.0% | 11,615 |
| 25 | Gap Up on Volume Gap | 50.3% | +0.50% | +0.39% | -34.9% | 1,218 |
What to know
Paste a thinkScript condition into a Stock Hacker custom study filter and set the aggregation to Day.
Standard RSI(14) under 30.
Down 10%+ over 5 sessions.
50 SMA crosses below 200 SMA.
Gaps down 3%+ but closes green on the day.
Close under the lower BB(20,2).
Gaps down 4%+ and closes below the open (weak follow-through).
Copy-paste rules for every screen above, plus Daily Fire Picks: 1-3 highest-confidence setups emailed before the open. Educational, not advice.
FAQ
What are the best thinkorswim scan settings?
In our 2021–2026 backtest, RSI(14) Oversold had the highest 5-day hit rate of this group at 57.9% over 22,196 signals. "Best" depends on your holding period and risk tolerance; compare drawdowns too.
Where are the exact settings?
The exact backtested thresholds and copy-paste TradingView, Finviz and ThinkorSwim versions are part of SetupHits Pro ($39/mo), delivered by email. The rankings and stats on this page are free.
Are these results realistic?
They are simulated on daily bars with no fees or slippage, on today's index members (survivorship bias). Treat them as a relative comparison, not a forecast.
More guides
Simulated results; no fees, slippage or taxes; survivorship-biased universe. Not financial advice. Methodology.