RPD
Filter
Position in Previous Day's Range Filter (RPD)
Find stocks trading above yesterday's high, or below yesterday's low, in real time, with Trade Ideas Streaming Alerts (Scanner) and Top Lists (Screeners). The Position in Previous Day's Range filter shows where the current price sits in yesterday's high-low range, as a percent: 0 is yesterday's low, 100 is yesterday's high, and above 100 is above yesterday's high.
See the breakout when it prints, not after.
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Streaming Alerts check the Position in Previous Day's Range filter the moment each alert fires, and Top Lists can sort by it.
How Trade Ideas finds it: set the minimum filter to 100 and leave the max filter blank to see stocks trading near the previous day's high. See Trade Ideas plans and pricing to run it live.
How the Position in Previous Day's Range filter works
The "position in previous days range" filter is used to evaluate where the current price of a stock stands relative to its price range on the previous trading day. This filter helps traders assess the strength or weakness of the current price movement within the context of recent trading activity.
Here's how the "position in previous days range" filter works:
Formula
Calculation of Previous Day's Range: The filter first calculates the price range of the previous trading day. This range typically spans from the highest price (high) to the lowest price (low) traded during that day.
Position Calculation: Next, the filter determines the position of the current price within the range of the previous day. This calculation is expressed as a percentage, representing how far the current price is from the previous day's low or high.
Key point
0 means that the last print was at the same price as the previous low. 100 means that the price of the last price was the same as the previous day’s high. 50 means that the last price was exactly in the middle of the previous day’s trading range. This number can be below 0 or above 100 when the last print is below the previous day’s low or above the previous day’s high.
Position in Previous Day's 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 or Top List (Screener) window.
Here is how to setup the filter in your configuration window:
- Set the minimum filter to 100 and leave the max filter blank to see stocks trading near the previous day's high.
Using the Position in Previous Days Range Filter
Several trading strategies can be employed with the Position in Previous Days Range filter. Here are a few examples:
- Reversal Trading: Contrarian traders may look for stocks that have moved significantly away from the previous day's range, indicating overbought or oversold conditions. If the price shows signs of reversal near the high or low of the previous day's range, such as bearish or bullish candlestick patterns, traders may enter positions anticipating a reversal back toward the mean.
- Range Trading: Traders may identify stocks that are trading within the previous day's range and look to capitalize on price oscillations within that range. They may enter long positions near the low of the previous day's range and short positions near the high, aiming to profit from price reversals back toward the mean.
- Volatility Breakout: Traders may use the position in the previous day's range filter to identify periods of low volatility where the price remains within the previous day's range. When the price breaks out of this range, indicating a surge in volatility, traders may enter positions in the direction of the breakout, aiming to profit from the ensuing price movement.
Filters to combine with Position in Previous Day's Range
Alerts to pair with the Position in Previous Day's Range filter
Categories
FAQ
Which stocks are trading above yesterday's high right now?
Add the Position in Previous Day's Range filter (RPD) to a Trade Ideas Streaming Alerts or Top List (Screener) window. Set the minimum filter to 100 and leave the max filter blank to see stocks trading near the previous day's high.
What is the Position in Previous Day's Range filter?
The Position in Previous Day's Range filter shows where the current price sits in yesterday's high-low range, as a percent: 0 is yesterday's low, 100 is yesterday's high, and above 100 is above yesterday's high.
How do I find previous-day high breakouts?
Use the Position in Previous Day's Range filter (RPD) in Trade Ideas Streaming Alerts and Top Lists to find stocks trading above yesterday's high, or below yesterday's low. The Position in Previous Day's Range filter shows where the current price sits in yesterday's high-low range, as a percent: 0 is yesterday's low, 100 is yesterday's high, and above 100 is above yesterday's high.