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Understanding range, Looking for day trading stocks

I am not sure if I understand "range". Whether that is today's bar range or an average of some kind.
This is what I am trying to do.
Create a list of good stocks to day trade. They must be active and They must have intra day moves that will provide technical signals for high percentage trades worth a minimum 10 cents. Preferably a little higher. But consistent 10 cent signals is the minimum I need.

This is my simple basic scan. Is this doing what I want or am I missing something?

Thank you.

[type is stock] and [sma(20,volume) > 4000000]
and [[exchange is NYSE] or [exchange is NYSE]]
and [Close > 30]
and [Close < 80]
and [group is Not ETF]
and [Daily Range > 1.5]
and [Daily Range < 5]

Comments

  • From the Scan Workbench documentation, it appears to just be the bar size.

    https://support.stockcharts.com/doku.php?id=scans:reference:price_volume_sctr

    Range (High - Low)
    The range for a security during the time period, calculated as the value of the high minus the value of the low for that time period.

    Syntax:

    range
    Operators:

    =, !=, >, >=, <=, <, x, is, is not
    Example:

    [range > 9.99]
  • I've edited your scan slightly:

    [[exchange is NYSE] or [exchange is NASD]]
    and [type is stock]
    and [group is Not ETF]
    and [sma(20,volume) > 4000000]
    and [Close > 30]
    and [Close < 80]

    and [sma(21, range) > 1.5]
    and [sma(21, range) < 5]


    Note your version says NYSE twice.

    Also, I've changed "range" to sma of range. You can choose a different parameter if it gets better results.

    Using sma eliminates hits that have just a single day of wide range.

    However, you will get more stocks now because the market is so volatile. If you backdate the scan to say, January, you will get many fewer. Also, individual stocks go through stages of wider and narrower range, so you would have to refresh your list often (maybe on the weekends). If you get too few hits, you can relax your conditions a little - maybe allow lower volume or higher or lower prices. Then look at the five and 1 minute charts to see if you get consistent volume all day.
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