Price Action Scanner — Intraday

Intraday Price Action — Pivot Levels Guide

Classic pivot points are calculated from the previous day's High, Low, and Close. They act as intraday support and resistance levels used by institutions and retail traders alike.

• PP (Pivot Point): (H + L + C) / 3 — the primary intraday reference. Above PP = bullish bias, Below PP = bearish bias.
• R1 / R2 / R3: Resistance levels — potential areas to book longs or initiate shorts.
• S1 / S2 / S3: Support levels — potential areas to buy dips or cover shorts.
• Open = High (O=H): Stock opened at the day's high — bearish signal, indicates selling pressure from open.
• Open = Low (O=L): Stock opened at the day's low — bullish signal, indicates buying support from open.
• Dist PP%: How far the LTP is from the Pivot Point as a percentage — useful for gauging extension.
• Nearest Res / Sup: The closest pivot level above (resistance) and below (support) the current price.

Trading with pivot zones

Stocks trading above R1 with bullish bias are in momentum — consider trailing stops. Stocks near PP switching from above to below can signal intraday reversal. Use OHL signals at open for early directional trades.

What is Price Action Trading?

Price Action Trading is a strategy in which price is treated as the purest indicator. Rather than relying on lagging indicators, traders focus purely on price movements, key support and resistance levels, and candlestick patterns to make entry and exit decisions.

Scan Types Explained

5-minute Breakout: Stocks closing above the high of the last 20 candles on a 5-minute chart — a short-term momentum breakout signal.

5-minute Breakdown: Stocks closing below the low of the last 20 candles on a 5-minute chart — a short-term bearish signal.

15-minute Breakout: Stocks breaking out above the last 20 candles' high on a 15-minute chart — preferred for trades held 1–2 hours.

15-minute Breakdown: Stocks breaking down below the last 20 candles' low on a 15-minute chart.

Hourly Gainers / Losers: Stocks that have gained or lost the most price in the last one hour — useful for catching momentum during the session.

Short-term Breakouts / Breakdowns: Stocks showing breakouts or breakdowns on daily charts — suitable for 2–10 day swing trades.

How to Use Price Action Scans for Intraday Trading

• For 5-minute breakouts: Look for stocks closing above the last 20-candle high with a rise in volume. Confirm on the chart before entering. Ensure the stock has enough liquidity.
• For 15-minute breakouts: Prefer stocks with high recent volume, above their 100 DMA and 20 EMA on the 15-minute timeframe.
• For short-term breakouts: These are daily-chart setups — ideal for swing trading 2–10 days. Look for the breakout above a key resistance level with above-average volume.
• Always identify support and resistance levels before entering — price action is most reliable near key levels.

Entry Types in Price Action Trading

• Breakout / Breakdown Entry: Enter when price closes beyond a key resistance or support level with volume confirmation.
• Pullback Entry: Wait for price to retrace to the breakout level (now acting as support) and enter on the bounce — offers a better risk-reward ratio.

Related Tools

• Opening Range Breakout
• Time-Wise Gainers
• Support & Resistance
• Price Movers