Stock Screen Using RSI, Daily Gains, Volume, and Opening Price

Summary

This post outlines a short-term equity screen combining an RSI threshold below 65, a daily gain above 1%, main-board membership, trading volume above 10,000 lots, and an opening-price condition. It includes example query and Python snippets intended to filter stocks using indicator, price-change, and volume fields. The stated rationale is to combine technical conditions with trading activity and an opening-price signal.

The post cautions that the rules are simple and may select volatile or speculative names; it suggests adding financial-quality filters and explicit risk controls. It provides no backtest or evidence that the screen predicts returns. The examples also contain inconsistent or unclear opening-price conditions, and the explanation that RSI below 65 denotes an oversold market is not generally accurate: that threshold alone does not define oversold conditions. Data field definitions, board coverage, and execution assumptions would need verification before use.

Key ideas

• The screen combines an RSI ceiling, a minimum daily gain, a volume threshold, and a main-board restriction.
• The examples also impose an opening-price condition, though its implementation is unclear and inconsistent.
• The author recommends adding fundamental filters and stop-loss or take-profit controls.
• No backtest or performance evidence is supplied, and the oversold interpretation of the RSI threshold is questionable.

Tags

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