Screening Filters
Price: 5 ≤ price ≤ 150
- Purpose: Focus on reasonably priced, liquid names that are practical for intraday trading.
- Rationale:
- Under $5 often includes very illiquid or highly speculative penny stocks with wide spreads.
- Above $150 can make position sizing harder for small intraday moves (2–4%) and can have wider intraday swings/spreads.
- This range keeps you in the “tradable” universe where a 2–4% scalp is more manageable.
Monthly Average Dollar Volume: ≥ 20,000,000
- Purpose: Ensure there’s enough liquidity to get in and out within the day without excessive slippage.
- Rationale:
- Your earlier request had ≥ 36,800,000; we relaxed this to ≥ 20M to surface more candidates while still requiring solid liquidity.
- High dollar volume = many dollars changing hands each day, which typically means tighter spreads and better fills for intraday trades.
Moving Average Relationship: PriceAboveMA5
- Purpose: Capture stocks with very short‑term upward momentum.
- Rationale:
- Originally, you asked for PriceAboveMA5 and PriceAboveMA20. The prior screen used both; this version keeps PriceAboveMA5 only, which is a relaxation.
- Price above its 5‑day moving average suggests immediate, short‑term strength—suitable for intraday “surging” candidates.
- Dropping the MA20 condition allows inclusion of stocks that may be breaking out today but are not yet firmly above the 20‑day average, increasing the pool of early movers.
Price Change % (from previous close): 1.5% ≤ change ≤ 10%
- Purpose: Target stocks already moving meaningfully after the open but avoid extreme blow‑off moves.
- Rationale:
- You originally specified 2% to 9%. We relaxed this to 1.5% to 10%:
- Lower bound to 1.5%: includes slightly smaller but still notable movers early in the session, in case the market is calmer that day.
- Upper bound to 10%: lets in stronger surges while still trimming the most extreme moves that can quickly reverse.
- This range is consistent with your goal: find “surging” names that could realistically offer an additional 2–4% intraday move.
Region: United States
- Purpose: Keep results aligned with typical US intraday trading hours and market structure.
- Rationale:
- You’re explicitly talking about “first hour after Market Open” and “before market close”, which fits US regular hours.
- US‑listed names on major exchanges typically have better liquidity, more reliable data, and tighter spreads.
Exchange List: XNYS, XNAS, XASE
- Purpose: Restrict to major US exchanges (NYSE, NASDAQ, AMEX) for quality and liquidity.
- Rationale:
- Avoids OTC and lightly regulated venues where spreads can be huge and intraday fills unpredictable.
- Matches your objective of practical intraday trading rather than speculative illiquids.
Comparison Between Indicators: ema_5 > ema_20
- Purpose: Confirm a short‑term uptrend, not just a random one‑off spike.
- Rationale:
- You explicitly asked for this: ema_5 > ema_20.
- When the 5‑period EMA is above the 20‑period EMA, it indicates recent prices are higher than the slightly longer average—classic short‑term bullish momentum.
- This supports your goal of catching surging names with a higher probability of continuation, rather than quick fade‑outs.
One-Day Predicted Return: ≥ 2%
- Purpose: Use a model‑based signal to prioritize names where the expected short‑term move is meaningfully positive.
- Rationale:
- You originally set this to ≥ 2.5%. We relaxed it to ≥ 2% to broaden the list but still require positive expected return.
- Aligns directly with your target of capturing an additional 2–4% intraday move; we’re biasing toward names where the model expects at least ~2% upside over the next day.
Why Results Match Your Intent
You want “surging” intraday candidates in the first hour after open that are:
- liquid enough to trade intraday (dollar volume + major exchanges),
- already moving (price change filter),
- showing short‑term strength and trend (PriceAboveMA5 + ema_5 > ema_20),
- and statistically tilted toward further upside (one‑day predicted return ≥ 2%).
The current filter set does match the indicators you requested (PriceAboveMA5, ema_5 vs ema_20, price change %, predicted return).
- We did not drop any indicator because of system limitations; all are supported.
- We simply relaxed some thresholds, per your request, to increase the number of candidates while staying true to your intraday scalping objective.
One important caveat: no set of filters can guarantee a 2–4% intraday profit or that the moves will continue throughout the day. What these filters do is skew the list toward:
- actively traded,
- currently strong,
- short‑term uptrending stocks
that historically have a higher chance of follow‑through than random names.
If you’d like, I can suggest additional refinements (e.g., limiting maximum intraday volatility or spread proxies) to further tailor this toward your specific risk tolerance for 2–4% scalps.
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.