What I was thinking hypothetically was - you can create a simple formula on a chart - say average price ( ohlc / 4 ) of a stock. It would be useful to then scan sectors / markets for stocks n% above or below the average price formula. You then short stocks above their average and go long with stocks below their average.
Its only an idea, just interested in how useful a scanner / software filter could be.
Neil is bang on - Prophet is excellent. Scans include sector as well as TA. There is also a real time scan for intra day data - but the results are limited to 10 unless you subscribe (which is only $10 pcm)
MSN Money also has an excellent Java scanner for EOD data. Allsorts of scans are possible including fundamentals and price, volume, beta etc