Understanding the Position in 15 Minute Range Filter

The "position in 15-minute range" filter refers to a metric used to determine where the current price of a stock falls within its 15-minute trading range. This filter is particularly relevant for intraday traders who are interested in short-term price movements.

Here's how the "position in 15-minute range" filter works:

15-Minute Trading Range: The trading range refers to the difference between the highest and lowest prices at which a stock has traded during a specific time period. In this case, the time period is 15 minutes. So, for each 15-minute interval during the trading day, a range is established based on the highest and lowest prices reached by the stock within that interval.

Position within the Range: The "position in 15-minute range" filter then determines where the current price of the stock falls within this 15-minute trading range. It quantifies this position as a percentage, where 0% represents the lowest price within the range, 50% represents the midpoint, and 100% represents the highest price within the range.

Traders use this filter to gauge the current price's relative position within the recent price action. For example, if the current price is near the high of the 15-minute range (closer to 100%), it may indicate bullish momentum or buying pressure. Conversely, if the price is near the low of the range (closer to 0%), it may suggest bearish sentiment or selling pressure.

Time is accurate to the minute.

Position in 15 Minute Range 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/Top List Window.

Here is how to setup the filter in your configuration window:

• Set the max value to 10 to show stocks that are very close to the bottom of their range for the last 15 minutes.

Using the Position in 15 Minute Range Filter

Several trading strategies can be employed with the Position in 15 Minute Range filter. Here are a few examples:

Range Trading: Range-bound strategies involve buying near the low of the 15-minute range and selling near the high, or vice versa. Traders may wait for the price to approach one end of the range and then enter positions in anticipation of a reversal towards the opposite end of the range.

Trend Confirmation Traders can use the position in the 15-minute range to confirm trends identified through other technical indicators. For example, if a stock is in an uptrend according to longer-term indicators, traders may look for buying opportunities when the price is near the high of the 15-minute range, confirming the upward momentum.

Mean Reversion: Mean reversion strategies involve trading based on the belief that prices tend to revert to their average over time. Traders may look for opportunities to enter positions when the price is near the extremes of the 15-minute range, expecting a reversal towards the mean.

FAQs

What does the "position in 15-minute range" filter indicate?

• This filter shows where the current price of a stock lies within its price range over a specific 15-minute interval. It provides insights into the current momentum and volatility of the stock within a short-term timeframe.

Why is the "position in 15-minute range" filter important in trading?

• This filter helps traders assess the short-term market sentiment and momentum. It can aid in identifying potential breakout or reversal points, confirming trends, and adjusting trading strategies based on current market dynamics.

What does it mean when the price is near the high or low of the 15-minute range?

• If the price is near the high of the range, it suggests bullish momentum or buying pressure, while if it's near the low, it indicates bearish sentiment or selling pressure. Traders may interpret these positions differently based on their trading strategies and market conditions.

How can traders use the "position in 15-minute range" filter in their trading strategies?

• Traders can use this filter to identify potential entry and exit points, confirm trends, gauge volatility levels, and adjust their trading strategies accordingly. It can be particularly useful for day traders focusing on short-term price movements.