A Share Screen Using Intraday Range, Weekly MACD, and Opening Gains

Summary

This stock-selection note describes a screen combining amplitude above 1, a positive weekly MACD histogram, and a 9:25 gain below 6%. The intended rationale is to find shares with notable price movement and a rising weekly trend while avoiding names that have already surged too far before the regular session. It provides formula and Python examples, though the examples use different implementations of the weekly trend and opening move conditions.

The note warns that a few technical filters omit company fundamentals and that the 9:25 move may be noisy relative to the full trading day. It suggests supplementing the screen with valuation or industry criteria, but reports no backtest results or evidence that the selection rules are profitable. The stated final screen adds an industry or industry-leader filter, without specifying which sectors or how leadership is measured. The code is presented as a reference and would need adaptation to the chosen data source and exact signal definitions.

Key ideas

• The screen combines amplitude above 1 with a positive weekly MACD histogram and a 9:25 gain below 6%.
• The rationale is to pair evidence of price movement and weekly strength with a cap on early-session gains.
• The note cautions that 9:25 price changes may be noisy and that technical filters omit fundamental information.
• Industry or valuation filters are suggested as possible additions, but no results validate the proposed screen.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.