Screening Filters
Support/Resistance Relationship: ['PriceBreakResistance', 'PriceAroundResistance']
- Purpose: To identify stocks where the price has recently broken through a resistance level or is currently trading near a previously broken resistance level.
- Rationale: The user specifically requested stocks where the price has confirmed a breakout of a recent resistance level and is now in a pullback phase, touching the broken resistance zone. This filter directly addresses the user's criteria by focusing on price action relative to resistance levels.
Relative Volume: {'min': '150'}
- Purpose: To ensure that the breakout and subsequent pullback are accompanied by significant trading volume, indicating strong market participation and a higher probability of a valid breakout.
- Rationale: The user requested that the breakout should have a volume greater than 1.5 times the average, which demonstrates "real intention" behind the price movement. Setting a minimum relative volume of 150% aligns with this requirement, as it filters for stocks with heightened trading activity.
Technical Indicators: 'Analyze recent price action to identify confirmed resistance breakouts with retests.'
- Purpose: To analyze price action patterns and confirm that the breakout has occurred and that the price is currently retesting the broken resistance level.
- Rationale: The user emphasized the need for a confirmed breakout (closed candles on 1H/4H timeframes) and a pullback to the broken resistance zone. This filter ensures that the stocks identified meet these technical criteria by focusing on price action analysis.
Why Results Match:
- The 'PriceBreakResistance' and 'PriceAroundResistance' filters directly address the user's request for stocks that have broken a recent resistance level and are now in a pullback phase, touching the broken resistance zone. These filters ensure that the price action aligns with the user's desired entry point.
- The Relative Volume filter ensures that the breakout is accompanied by significant trading volume, which matches the user's requirement for volume > 1.5x the average to confirm the breakout's validity.
- The Technical Indicators filter focuses on analyzing price action to confirm breakouts and retests, which aligns with the user's request for confirmed breakouts (closed candles on 1H/4H timeframes) and pullbacks.
Additional Notes:
While the filters applied closely match the user's request, it is important to note that the specific timeframes (1H/4H) mentioned by the user are not explicitly addressed in the filters. However, the general focus on confirmed breakouts and retests ensures that the results are still highly relevant to the user's query. If the user requires strict adherence to specific timeframes, additional customization may be needed.
This list is generated based on data from one or more third party data providers. It is provided for informational purposes only by Intellectia.AI, and is not investment advice or a recommendation. Intellectia does not make any warranty or guarantee relating to the accuracy, timeliness or completeness of any third-party information, and the provision of this information does not constitute a recommendation.