Stocks under $5 for day trade today

Screening Filters

1. price: max $5

   • Purpose: Find low-priced U.S. stocks under the user’s stated price limit.
   • Rationale: The user specifically asked for stocks under $5, so this filter directly matches that requirement and keeps the screen focused on penny/low-priced names that are typically of interest for day trading.

2. relative_vol: min 1.5

   • Purpose: Identify stocks trading with above-normal activity relative to their usual volume.
   • Rationale: Day traders generally look for stocks with unusual volume, because higher relative volume often signals stronger intraday movement, better liquidity, and more opportunity for short-term price swings.

3. volume: min 1,000,000

   • Purpose: Ensure the stock is actively traded today.
   • Rationale: High absolute volume helps make day trading more practical by improving liquidity and reducing the chance of getting stuck in thinly traded names with wide spreads. A minimum of 1 million shares is a common way to find stocks with enough participation for intraday trading.

4. min5_price_change_pct: min 0

   • Purpose: Focus on stocks that are at least flat or positive over the recent 5-day period.
   • Rationale: This helps screen for stocks that are not currently in a weak short-term downtrend. For day trading, names showing some short-term strength or stability can be more attractive than stocks that are steadily falling.

5. region: US

   • Purpose: Restrict results to U.S.-listed stocks.
   • Rationale: The user asked for U.S. stocks, so this filter ensures the screen only includes securities from the U.S. market.

6. list_exchange: XNYS, XNAS, XASE

   • Purpose: Limit the search to major U.S. exchanges: NYSE, Nasdaq, and NYSE American.
   • Rationale: Stocks on these exchanges are generally more accessible, more liquid, and more suitable for active trading than OTC or less regulated venues.

7. is_optionable: True

   • Purpose: Select stocks that have listed options.
   • Rationale: While not required for day trading, optionable stocks are often more actively followed and liquid. This can be a useful quality filter for active traders looking for well-known, tradable names.

Why Results Match:

• The filters as a whole target U.S.-listed stocks under $5 with strong current trading activity, which is exactly what day traders need.
• Price and region/exchange filters make sure the stocks match the user’s market and price criteria.
• Volume and relative volume help surface stocks with enough liquidity and intraday momentum to trade efficiently.
• The 5-day price change filter avoids stocks that are already showing weak recent momentum.
• The optionable filter favors more established, actively watched names that often have better trading characteristics.

Overall, this screen is designed to find low-priced U.S. stocks that are active enough and liquid enough for day trading today.