5SmaLa8
Filter
Change From 8 Period SMA (5m) Filter (5SmaLa8)
Find stocks trading above or below the 8-period moving average on the 5-minute chart in real time with Trade Ideas Streaming Alerts (Scanner) and Top Lists (Screeners). The Change From 8 Period SMA (5 min) filter compares the last print to the 8-period simple moving average on a 5-minute chart, in percent. Positive means above the average.
See the cross when it happens, not on tomorrow’s chart.
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Streaming Alerts check the Change From 8 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 8 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 8 period SMA on a 5 minute chart. See Trade Ideas plans and pricing to run it live.
How the Change From 8 Period SMA (5 min) filter works
The "Change From 8 Period SMA 5m Filter" is an indicator that looks at the current price of a stock relative to its 8-period Simple Moving Average (SMA) on a 5-minute chart. It is tailored for short-term, intraday trading by highlighting immediate price trends. Here’s a breakdown of its components:
Simple Moving Average (SMA)
8-Period SMA on a 5-Minute Chart: This SMA calculates the average closing price of a stock over the last 8 five-minute periods, giving a total span of 40 minutes. It serves to smooth out price fluctuations on a very short-term basis.
Calculation: The values entered for this filter are percentage (%). The formula is (Percent Change) = ((Last Price) - (SMA)) / (SMA) * 100.
Key point
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 8 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 8 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 8 period SMA on a 5 minute chart.
Using the Change From 8 Period SMA 5m Filter
Several trading strategies can be employed with the Change From 8 Period SMA 5m filter. Here are a few examples:
- Momentum Trading: Traders might look for a significant positive change as an entry signal for a long position, interpreting it as upward price momentum. Conversely, a significant negative change might signal a potential short opportunity.
- Reversion to Mean Strategies: If the stock price deviates notably from the 8-period SMA, some traders may expect the price to revert to the mean (the SMA) and trade accordingly.
- Scalping: Because the filter reflects very short-term changes, it's useful for scalping strategies where traders seek to profit from small price changes, quickly entering and exiting trades.
- Stop Loss and Take Profit: The 8-period SMA can serve as a dynamic level to manage stop loss and take profit orders, adjusting them in real-time with the moving average.
Filters to combine with Change From 8 Period SMA (5 min)
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FAQ
Which stocks are above their 8-period moving average on the 5-minute chart?
Add the Change From 8 Period SMA (5 min) filter (5SmaLa8) 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 8 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 8 period SMA on a 5 minute chart.
What is the Change From 8 Period SMA (5 min) filter?
The Change From 8 Period SMA (5 min) filter compares the last print to the 8-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 8 Period SMA (5 min) filter (5SmaLa8) in Trade Ideas Streaming Alerts and Top Lists to find stocks trading above or below the 8-period moving average on the 5-minute chart. The Change From 8 Period SMA (5 min) filter compares the last print to the 8-period simple moving average on a 5-minute chart, in percent.