Screening Filters & Rationale
Relative Volume (min: 0.8):
- Purpose: Identify stocks with sufficient trading activity compared to their average volume.
- Rationale: Higher relative volume indicates increased interest, which can validate the Wolfe Wave pattern.
RSI (14) between 40 and 70:
- Purpose: Focus on stocks that are neither overbought nor oversold.
- Rationale: This range suggests a balanced momentum, aligning with potential buy signals from Wolfe Wave patterns.
Price Above MA20:
- Purpose: Ensure the stock is in a short-term uptrend.
- Rationale: Price above the 20-day moving average confirms bullish momentum, supporting the Wolfe Wave buy signal.
White Candlestick Pattern:
- Purpose: Identify stocks with recent bullish candlestick formations.
- Rationale: A white candlestick indicates positive price movement, reinforcing the buy signal.
Price Around Support:
- Purpose: Find stocks trading near key support levels.
- Rationale: Wolfe Wave patterns often rely on price bouncing off support, making this filter critical for validation.
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.