How our analysis is calculated
Every score and label on this site is computed from public price and volume data on a fixed set of rules, applied identically to every listed code, and recalculated each trading day. No stock is assessed by hand and none is treated as a special case.
This page describes what each measure looks at and how to read it. It does not publish the specific weightings or cut-off values, which are the part that took the work to arrive at.
Momentum Quality Score
MQS rates how well-formed a trend is, not how far a price has moved. A stock that rises steadily on consistent participation scores higher than one that made the same gain in a single session. It considers four things: the structure of the trend, how consistent the price action has been, whether volume supports the move, and how long the move has held.
Read it relative to the market rather than as a mark out of a hundred. The scale is deliberately harsh: on a typical day around nine in ten ASX stocks score under 50, and readings above 70 are uncommon. A score of 45 is closer to mid-pack than to poor.
What it is not. A high MQS describes a trend that has already happened. It is not a prediction, and a mature trend is by definition closer to its end than its beginning.
The four Wyckoff phases
Wyckoff analysis describes a cycle that price ranges tend to move through. We classify every stock into one of four phases each day, from its trend structure, its position relative to its own recent range, momentum direction and volume behaviour.
- Accumulation - the basing phase. The stock has stopped falling and trades sideways on quieter volume. A setup, not a signal: bases can last months and some never resolve upward.
- Uptrend - the advance is under way and holding. Structurally the lowest-risk phase for a long position, though never risk-free.
- Distribution - the advance has stalled and the stock is ranging near its highs on heavier turnover. Historically where advances end.
- Downtrend - price is declining with lower highs. Cheapness alone is not a reason to buy in this phase.
A stock only changes phase when the evidence for the new phase clearly outweighs the evidence for the one it is in. That deliberately makes the label slow to change: a reading that flipped daily would be describing noise, and it is what makes the days-in-phase counter shown on each page meaningful.
We classify the weekly timeframe separately, from weekly bars. The combination is more informative than either alone: a daily reading that agrees with the weekly is the higher-conviction signal, which is why our screens show the weekly phase in green only when the two agree, and in plain text when they do not.
Limitations, stated plainly
- A stock needs enough trading history to be scored. Recent listings show no score rather than a provisional one.
- A suspended stock's figures are frozen at its last traded session. We label those pages rather than presenting stale numbers as current.
- Thin stocks produce unreliable readings, because a single trade can move a percentage a long way. Our screens apply a turnover floor for this reason; the individual stock pages do not, so read a score on an illiquid code with caution.
- Corporate actions such as consolidations create price jumps with no trading behind them. We guard against the largest of these, but not every case.
- Announcement summaries, where shown, are machine-generated and may omit detail. Always read the original filing.
- Everything here is backward-looking. None of it forecasts a price.
How often it updates
Scores and phases are recalculated each trading day from that session's data. Announcements are collected through the day as they are lodged. Because announcements arrive from early morning while price data settles later, the two can describe different sessions for part of each morning; where that is the case, the page says so.
See also about this site, or browse the accumulation, momentum, breakout and near-highs screens.