In the VWAP scanner, stocks breaking above the VWAP line are marked red for buy breakouts, while stocks breaking below are marked green for sell breakdowns.
VWAP stands for Volume Weighted Average Price, which is a popular technical analysis indicator used by traders to identify market trends and trading opportunities. It is calculated by dividing the total value of all trades by the total trading volume for a given time period.
Apart from breakout bets, the scanner also looks for opportunities to buy oversold stocks and sell overbought ones. This is a mean reversion strategy where traders expect prices to revert to their average.