A-Share Screening with Bollinger Bands, Range Expansion, and Dividends

Summary

This A-share stock screen combines a range expansion condition, a Bollinger Band location filter, and a historical dividend ratio threshold. It selects stocks whose daily high-low range exceeds its 20-day average, whose close lies between the middle and upper Bollinger bands, and whose 2019 dividend ratio is at least 25%. The article also sketches implementations in common Chinese market-analysis tools and Python, and describes excluding certain listings and special-treatment stocks.

The rationale offered is that the range and band conditions capture price movement while the dividend filter favors companies with substantial distributions. However, the article provides no backtest results or evidence that the combined filters predict returns; its long-term investment claims are unsupported. It also acknowledges risks from market swings, delayed or mismatched data, and relying too heavily on dividend history. The suggested refinements are to combine technical and fundamental measures, consider firms' future needs, and examine multiple time horizons.

Key ideas

• The screen requires a daily high-low range above its 20-day average.
• It selects closes between the middle and upper Bollinger bands.
• The dividend filter uses a 2019 payout ratio threshold of 25%.
• The article gives implementation examples but reports no strategy performance evidence.
• Historical dividend levels and short-term price conditions may not reflect future returns.

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