TOP GAINER V2

The "TOP GAINER" is a custom TradingView indicator designed to identify and trade high-potential momentum stocks, particularly top pre-market gainers with strong hype and volatility. It's tailored for day traders focusing on small-cap, low-float stocks that exhibit explosive price movements, allowing for quick entries and exits to capitalize on short-term pumps. This indicator combines technical signals (MACD, RSI, and EMA) with fundamental filters to spot setups in pre-market and early regular trading hours, ideally on a 5-minute chart for precise timing.
Key Features and How It Works


Scanning for Top Gainers: The indicator targets stocks that are among the day's top pre-market performers. It evaluates criteria like:

Price Range ($2–$20): Focuses on affordable stocks where you can buy a large number of shares with limited capital. Lower-priced stocks often have higher volatility, enabling them to double, triple, or more in a single session due to hype-driven momentum.
Pre-Market Gain (≥20%): Identifies stocks with significant upside from the pre-market open (4:00 AM ET), signaling strong early interest and potential for continuation.
High Volume (≥500,000 shares from pre-market open): Ensures liquidity and confirms genuine hype, as elevated pre-market volume often precedes big moves at market open.
Small Market Cap (<$500M): Prioritizes small-cap companies, which are more prone to rapid price swings from news, catalysts, or retail frenzy compared to large caps.
Low Float (<50M shares): Low-float stocks have fewer shares available for trading, making them susceptible to sharp rallies when demand surges (e.g., from social media buzz or short squeezes).

These criteria are displayed in a real-time table on the chart for quick scanning—green checkmarks (✅) indicate a match, red crosses (❌) show failures, and "N/A" appears if data is unavailable (e.g., for non-stocks).


Entry Signals (Buy Opportunities): Once a stock meets the filters, the indicator watches for bullish momentum during pre-market or at market open:




EMA Exit (default enabled): Sells when price crosses below a 40-period EMA (orange line), signaling a potential trend reversal. STRONGLY RECOMMEND TURNING THIS OFF
MACD Exit (default enabled, now using standard line/signal crossunder): Sells on a bearish MACD crossover for momentum-based exits.
Plots orange (EMA) or red (MACD) downward triangles above the bar for exits.
Built-in alerts notify you of buy and sell signals in real-time.



Why This Strategy?
This indicator is built for "hype trading" on volatile small-caps, where pre-market scanners highlight gappers, and the tool helps time entries post-open (e.g., on 5-min charts) to catch breakouts. Small floats and caps amplify moves— a 20%+ gainer with high volume can surge 50–200% intraday due to supply/demand imbalances. The $2–$20 range keeps it accessible: with $1,000, you could buy 500 shares of a $2 stock, turning a $1 gain into $500 profit. It's not for long-term investing but for scalping or swinging on daily catalysts like earnings, news, or memes.
Usage Tips

This tool streamlines spotting and trading "lotto plays" while providing visual and alert-based discipline for entries/exits.