5SmaLa5
Filter
Change From 5 Period SMA (5m) Filter (5SmaLa5)
Find stocks trading above or below the 5-period moving average on the 5-minute chart in real time with Trade Ideas Streaming Alerts (Scanner) and Top Lists (Screeners). The Change From 5 Period SMA (5 min) filter compares the last print to the 5-period simple moving average on a 5-minute chart, in percent. Positive means above the average.
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Streaming Alerts check the Change From 5 Period SMA (5 min) filter the moment each alert fires, and Top Lists can sort by it.
How Trade Ideas finds it: set the min value to 1 to see only stocks in which the current price is above their 5 period SMA on a 5 minute chart. Set the max value to -1 to see only stocks in which the current price is below their 5 period SMA on a 5 minute chart. See Trade Ideas plans and pricing to run it live.
How the Change From 5 Period SMA (5 min) filter works
The "Change From 5 Period SMA (5 minute)" filter in stock trading is used to compare the price of the last print for a stock to that of the 5 period simple moving average on a 5-minute chart. This filter is designed for short-term, intraday trading analysis due to its focus on small time increments and rapid SMA calculation. Here's how it's constructed and used:
Simple Moving Average (SMA)
- 5-Period SMA: This is an average of the stock's closing prices over the last 5 periods, where each period is 5 minutes long. In other words, it's the average closing price of the stock over the last 25 minutes of trading.
- Dynamic Indicator: The 5-period SMA on a 5-minute chart is a highly dynamic indicator that changes quickly as new price data comes in every 5 minutes.
- Calculation: The values entered for this filter are percentage (%). The formula is (Percent Change) = ((Last Price) - (SMA)) / (SMA) * 100.
A positive number means that the current price is above the moving average. A negative number means the current price is below the moving average.
Change From 5 Period SMA (5 min) filter settings
The settings of each Trade Ideas filter are defined in the Window Specific Filters Tab located in the Configuration Window of your Alert or Top List (Screener) window.
Here is how to setup the filter in your configuration window:
- Set the min value to 1 to see only stocks in which the current price is above their 5 period SMA on a 5 minute chart.
- Set the max value to -1 to see only stocks in which the current price is below their 5 period SMA on a 5 minute chart.
Using the Change From 5 Period SMA 5m Filter
Several trading strategies can be employed with the Change From 5 Period SMA 5m filter. Here are a few examples:
- Intraday Trend Analysis: This filter is useful for day traders to identify the very short-term trend direction within the day.
- Momentum Trades: Day traders might look for a significant positive change as a momentum entry signal or a significant negative change as a potential signal for a short trade.
- Scalping: Traders employing a scalping strategy may use the filter to take quick, small profits from minor price changes, entering and exiting trades rapidly.
- Pullback and Breakout Trades: Some traders look for moments when the price temporarily pulls back to the 5-period SMA during a larger uptrend as a buying opportunity, or when a price breaks well below the SMA during a downtrend to initiate a short position.
Filters to combine with Change From 5 Period SMA (5 min)
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FAQ
Which stocks are above their 5-period moving average on the 5-minute chart?
Add the Change From 5 Period SMA (5 min) filter (5SmaLa5) to a Trade Ideas Streaming Alerts or Top List (Screener) window. Set the min value to 1 to see only stocks in which the current price is above their 5 period SMA on a 5 minute chart. Set the max value to -1 to see only stocks in which the current price is below their 5 period SMA on a 5 minute chart.
What is the Change From 5 Period SMA (5 min) filter?
The Change From 5 Period SMA (5 min) filter compares the last print to the 5-period simple moving average on a 5-minute chart, in percent. Positive means above the average.
How do I scan for stocks above an intraday moving average?
Use the Change From 5 Period SMA (5 min) filter (5SmaLa5) in Trade Ideas Streaming Alerts and Top Lists to find stocks trading above or below the 5-period moving average on the 5-minute chart. The Change From 5 Period SMA (5 min) filter compares the last print to the 5-period simple moving average on a 5-minute chart, in percent.