You can create outer glow using shadow like this:
context.shadowBlur = 10;
context.shadowColor = "black";
Take a look at this link for an example:
http://www.williammalone.com/articles/html5-canvas-example/
And here’s a really basic JSFiddle.
I think this will be faster than “a for loop to draw circles with different radius and alpha.”
I hope this can help!