Understanding the Position in 60 Minute Range Filter

The "position in 60-minute range" filter refers to a metric used to determine where the current price of a stock falls within its 60-minute trading range.

Here's how the "position in 60-minute range" filter works:

60-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 60 minutes. So, for each 60-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 60-minute range" filter then determines where the current price of the stock falls within this 60-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 60-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 60 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 min value to 90 to show stocks that are near the high of their range for the last 60 minutes.

Using the Position in 60 Minute Range Filter

Several trading strategies can be employed with the Position in 60 Minute Range filter. Here are a few examples:

Trend Confirmation: Traders can use the position in the 60-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 60-minute range, confirming the upward momentum.

Scalping: Scalpers aim to capitalize on small price movements within short timeframes. They may use the position in the 60-minute range to identify quick entry and exit points based on short-term momentum and volatility.

Volatility Trading: Traders may use the position in the 60-minute range to gauge volatility levels. Higher volatility may present more significant trading opportunities, while lower volatility may require adjustments to trading strategies.

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 60-minute range, expecting a reversal towards the mean.

FAQs

What does the "position in the 60-minute range" filter indicate?

• This filter shows where the current price of a stock lies within its price range over the past 60 minutes. It provides insights into short-term momentum and volatility within an hourly timeframe.

How is the position in the 60-minute range calculated?

• The calculation involves determining the high and low prices of the stock within the last 60 minutes and comparing the current price to this range. The position is then expressed as a percentage or ratio to indicate how far the current price is from the high or low of the range.

Why is the "position in the 60-minute range" filter important in trading?

• This filter helps traders assess short-term price dynamics and momentum within an hourly interval. It can be valuable for identifying potential breakout or reversal points, confirming short-term trends, or assessing volatility levels.

What does it mean when the price is near the high or low of the 60-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 depending on their trading strategies.