About Scanner - Open Equals Low Intraday Momentum Strategy

Open Equals Low Strategy identifies stocks with strong buying pressure, making it a high probability setup for intraday long trades.

Strategy Description -

• Open equals the low on the latest tick, indicating no lower wick and clear upside pressure at the start of the candle.


• To ensure bullish continuation, the latest screener open is greater than or equal to the previous close, showing that price opened with strength and upward intent.


• Latest tick volume is higher than the previous tick’s volume, highlighting increasing buying participation.


• Current tick volume is greater than the 20-tick average volume, ensuring the strong buying interest.


• Open price crossing above the 50 period SMA, signaling a strong breakout.

Additional Considerations -

• Timeframe: This strategy works best on a 5 minute timeframe. It performs most effectively between 9:30–10:30 AM and 2:00–3:00 PM.


• Confirm with Volume: Monitor volume closely - Momentum is trustworthy when supported by good average volume.


• Avoid Sudden Spikes: If there’s a huge price move in the last two ticks, stay cautious as volatility may fade quickly.


• Filter Stocks: Apply this strategy to your favorite stock basket or your watchlist.

Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option

Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.