For daily stock signal

Screening Filters

1. Price: $10–$100

   • Purpose: Focus on tradeable, mid-priced stocks that are accessible for daily trading and less erratic than penny stocks.
   • Rationale:
     • Below $10 you often get very volatile “lottery ticket” names with wider spreads and higher manipulation risk.
     • Above $100 position sizing for day trades can get harder for smaller accounts, and percentage moves may be smaller relative to capital used.
     • This range balances volatility, liquidity, and accessibility so that any “signals” you get are realistically tradable.

2. Relative Volume ≥ 2

   • Purpose: Find stocks that are trading with at least 2× their normal volume today.
   • Rationale:
     • Day traders rely on unusual activity—more participants, tighter spreads, and big intraday moves.
     • Relative volume (current volume vs. average) is a direct way to spot where the market’s attention is right now.
     • These names are more likely to give intraday breakouts, breakdowns, or trend continuations that you can use as trading “signals.”

3. Monthly Average Dollar Volume ≥ $2,000,000

   • Purpose: Ensure the stocks are liquid enough in dollar terms (price × volume) to enter/exit positions quickly.
   • Rationale:
     • Dollar volume is often more telling than share volume because it reflects actual money flowing through the stock.
     • At $2M+ per day (on average over a month), spreads are usually tighter and slippage lower—critical for daily trading signals that may require fast execution.

4. RSI Category: Moderate

   • Purpose: Avoid stocks that are extremely overbought or oversold; focus on names in a more neutral / sustainable zone.
   • Rationale:
     • Extremely high RSI can mean a move is already extended and at higher risk of reversal whipsaws.
     • Extremely low RSI can look attractive but often comes with news risk or downtrends that can keep going.
     • A “moderate” RSI (typically around 40–60) means the stock still has room to move in either direction, which can produce cleaner intraday setups (breakouts, pullbacks, trend starts) you can trade.

5. Daily Price Change %: +5% to +20%

   • Purpose: Target stocks that are already moving significantly today, but not in a totally parabolic, blow-off fashion.
   • Rationale:
     • Under +5%: might be too “quiet” for active day trading; moves may be too small for your risk/return.
     • Over +20%: often news-driven spikes where spreads widen and reversals are violent; harder for consistent intraday trading.
     • The 5–20% range is a sweet spot: strong momentum and clear intraday interest, but still tradeable and more technically respect levels.

Why These Results Match Your Goal of Daily Trading Signals

• The combination of high relative volume and meaningful but controlled price movement (5–20%) surfaces stocks that are actually in play on that day—ideal for generating actionable intraday signals.
• Liquidity filters (price range and dollar volume) make sure the “signals” you get are on symbols where you can realistically enter and exit without excessive slippage.
• The moderate RSI keeps you away from the most extreme, one-sided conditions, improving the odds that technical setups (breakouts, pullbacks, trend-following signals) behave in a more orderly way.

In practice, you’d run this screen each trading day. The resulting list is your daily watchlist of candidates; from there you apply your specific entry/exit rules (breakouts, moving-average crosses, price-action patterns, etc.) to generate actual buy/sell signals.