Combining RSI, Daily Gains, and MACD for Main-Board Stock Selection

Summary

This post describes a daily stock screen for main-board shares using three conditions: RSI below 65, a gain greater than 1% for the day, and daily MACD above zero. It frames the filters as a way to find stocks with positive recent movement while avoiding shares whose MACD indicates a downward trend. The post also includes a platform formula and a sample Python-oriented workflow for gathering current and historical stock data and filtering candidates.

The document gives no backtest results or performance evidence for the screen, despite mentioning a strategy template. Its explanation of RSI as indicating oversold conditions is not established by data here, and a positive daily MACD or one-day gain does not guarantee continued appreciation. It notes that reliance on a small set of technical signals can mislead, that short-term indicators may be unsuitable for longer horizons, and suggests adding other indicators or adjusting the gain threshold. Any use would require independent testing and risk controls.

Key ideas

• The screen requires RSI below 65, a daily gain above 1%, main-board listing, and positive daily MACD.
• The post supplies example formulas and a data-filtering workflow, but does not report measured performance.
• A small set of technical indicators can produce misleading selections, especially across different investment horizons.
• The author suggests testing additional indicators and revisiting thresholds as market conditions change.

Tags

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