70%+ red candles over last 20 bars with price below EMA20 and volume above average.
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Part of Volume Surge Stocks Today
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The 70%-red-candles filter requires at least 14 of the last 20 bars to have closed lower than they opened. on the Daily chart, that means sellers won the majority of individual sessions over the past trading month. Close below EMA(20) confirms the current price is beneath the 20-day Exponential Moving Average — a standard medium-term trend benchmark — placing the stock in a downtrend by that measure. Volume above average adds a participation requirement: the selling is active, not a passive low-volume drift. The three conditions together filter for stocks experiencing deliberate, repeated, and liquid selling, not just a temporary weakness in an otherwise healthy trend.
The 70% red candle threshold is meaningfully higher than the 60% used in intraday momentum screens — it requires a more extreme candle imbalance on the daily scale. This makes the screen appropriate for identifying distribution phases where institutions are systematically liquidating positions over weeks. The most important failure mode is a reversion after exhaustion: stocks with 70%+ red candles over 20 sessions are often oversold by standard indicators and can stage sharp countertrend rallies, especially on any positive news catalyst. Traders must distinguish between continuation and exhaustion; volume behavior on up days within the 20-bar window can help (heavy volume up days suggest buyers are absorbing the selling). Compare to Sustained Buying Pressure for the bull-side equivalent. Strong Intraday Downtrend screens are the intraday version of a similar concept.
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This screen identifies stocks where more than 70% of the last 20 candles were red, price is below EMA(20), and volume is above average. Together these conditions describe a stock under consistent, elevated selling pressure across an extended period — not a one-day flush. Short sellers and traders anticipating continued downside use this to find stocks in confirmed distribution phases. Search phrases: sustained downtrend stock screener, high percentage red candles below EMA, distribution phase stock screener.
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