Screening Filters
Price: 10–60 USD
- Purpose: Focus on reasonably priced, actively traded stocks and avoid very illiquid penny stocks or extremely high-priced names that are harder to size and scale for day trades.
- Rationale:
- Stocks under ~$10 often behave like penny stocks: wider spreads, low liquidity, more manipulation risk—less ideal for consistent day trading.
- Very high-priced stocks (e.g., $300+) can make it harder to size positions flexibly for smaller accounts and can have large dollar swings that are tough to manage intraday.
- The $10–$60 range tends to include many mid‑cap and liquid large‑cap names that move enough for day trading but are not as structurally risky or thin as very low-priced issues.
Monthly Average Dollar Volume ≥ 5,000,000 USD
- Purpose: Ensure high liquidity so you can enter and exit quickly with minimal slippage.
- Rationale:
- Dollar volume = price × volume; it’s more informative than share volume alone.
- Higher dollar volume usually means tighter bid-ask spreads, deeper order books, and better fills—critical for intraday trading where you may trade in and out multiple times.
- A $5M+ threshold helps filter out thin, hard‑to‑trade stocks that can gap against you on relatively small orders.
Relative Volume (relative_vol) ≥ 3
- Purpose: Find stocks trading at least 3x their normal volume today—i.e., “in play” with strong attention and participation.
- Rationale:
- Day traders typically look for unusual activity: news, catalysts, or sudden interest.
- Relative volume ≥ 3 suggests today’s liquidity and participation are well above average, which often comes with larger intraday moves and clearer intraday patterns.
- This increases the probability of tradable moves (breakouts, reversals, momentum runs) and better order execution.
RSI Category: Moderate or Overbought
- Purpose: Focus on stocks with momentum or recent strength, which are more likely to have clean intraday trends and volatility.
- Rationale:
- Moderate RSI: Not extended but showing activity—these can be building momentum and may offer intraday trend opportunities with less “blow‑off” risk.
- Overbought RSI: Indicates strong recent buying pressure; these can be prime for momentum continuation trades or sharp intraday pullbacks/reversals, both of which day traders like to exploit.
- Avoiding oversold-only names reduces the focus on weak, illiquid, or “dead” stocks that may not move enough intraday.
Price Change % (Daily) between 5% and 20%
- Purpose: Target stocks that are moving enough to be worth day trading, but not so extreme that they become unmanageable.
- Rationale:
- <5% daily move often doesn’t provide enough range to justify multiple trades after spreads, fees, and slippage.
- 5–20% moves usually indicate strong intraday volatility and clear trends or reversals without the chaotic, limit-up/limit-down behavior often seen above 20–30%.
- This band captures many “in play” names: earnings movers, news plays, sector momentum, etc.
Region: United States
- Purpose: Restrict results to U.S. companies to match your request for day trading in the US stock market.
- Rationale:
- Aligns with US trading hours, US regulations, and familiar tickers/platforms.
- Avoids cross‑listing complexities, foreign tax/settlement issues, and different volatility/liquidity profiles.
Exchange: XNYS (NYSE), XNAS (NASDAQ), XASE (AMEX)
- Purpose: Limit results to the primary major US exchanges where most active day traders operate.
- Rationale:
- NYSE, NASDAQ, and AMEX are the most liquid, transparent, and widely followed U.S. exchanges.
- Many off‑exchange or OTC stocks are far less liquid, more prone to manipulation, and riskier for intraday in‑and‑out trading.
- This ensures access to robust pre‑market/after‑hours data, Level 2 info, and better broker support.
Why Results Match What You’re Asking For
- The filters collectively zero in on liquid, actively traded U.S. stocks suitable for rapid entry and exit—critical for day trading.
- Price, dollar volume, and exchange filters ensure tradability and low slippage.
- Relative volume, RSI, and daily price change range focus on stocks “in play” with strong intraday movement, which is what you need to find meaningful intraday setups.
- The US region and major exchange filters ensure the list is directly aligned with the US stock market you want to trade.
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.