Mean reversion screens (short) - RSI Indicator
This screen shows stocks that have experienced a sharp increase in price in a short time and are therefore at least 9% away from their 10-day moving averages and where the RSI2-indicator is extremely overbought (>90). This makes these stocks ideal candidates to look for mean reversion SHORT setups on the assumption that the price will at least temporarily move back towards the average price. Remember that these candidates are merely watchlist setups. Confirmation is still needed, so be sure to read the article below that explains exactly what the strategy entails and how to apply it. Trade safe!
Mean Reversion Stock Screener
Use the stock screener to find mean reversion trading ideas
2 Day RSI Trading Strategy
The 2 day RSI Trading Strategy, specifically aimed at active traders who hold positions for several days to at most several weeks.
The RSI Indicator: What Is It And How To Use It?
The Relative Strength Indicator (RSI) is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and helps traders identify overbought or oversold conditions in a market.
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sma10: SMA(10) Above SMA(20)
This ensures that the short term trend is up
RSI: RSI(2) Above 90
RSI-indicator extremely overbought
Signal: New 10 day High Today
Current highest Price in 10 days
Average Volume: 50 SMA > 300K
Minimal Liquidity
Today>=0%
This ensures us that the most recent day closed positive
Price: Above 10
Minimum Price filter
(close>=(sma10*1.09))
Custom filter, current price is at least 9% above SMA10 price
Exchange: US Only
Personal Preference
Daily charts
Regional Run
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.