Stock Screening with Weekly MACD, Intraday Range, and Auction Value

Summary

This screen combines a daily price-range threshold with weekly MACD above zero, then ranks candidates by the value of their opening auction and keeps the five highest-ranked stocks. The document frames range and MACD as signals of market activity and direction, while auction value is used as a measure of immediate trading interest. It includes formula and Python examples, though the Python illustration also uses a weekly moving-average condition and historical sample dates, so it does not precisely match every stated rule.

No performance figures or backtest results are supplied. The article cautions that auction activity does not establish long-term stability and that the screen ignores fundamentals and other factors. It recommends adding financial, industry, ownership, or sentiment information and validating the combined approach through statistical analysis and historical backtesting. The ranking is a short-term selection device, not evidence of durable returns or controlled risk.

Key ideas

• The screen filters for a daily range threshold and weekly MACD above zero.
• It ranks qualifying stocks by opening auction value and selects the top five.
• The Python example does not exactly align with the stated conditions, including its added weekly moving-average test.
• The article provides no performance evidence and warns that high auction value does not imply long-term stability.
• It recommends broader inputs and historical validation before relying on the screen.

Tags

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