Ross Cameron 5 Pillars Filter

First, I am not Ross Cameron. This indicator is based on his five pillars of stock selection.


ROSS CAMERON 5 PILLARS MOMENTUM FILTER

🎯 OVERVIEW
This indicator automatically checks if the current symbol meets Ross Cameron's famous "5 Pillars" stock selection criteria from Warrior Trading - a proven methodology for identifying high-probability momentum day trading setups.

📊 ROSS CAMERON'S 5 PILLARS

1️⃣ RELATIVE VOLUME ≥5x (Automated ✅)
• Compares current volume to 30-day average
• Minimum 5x confirms institutional/retail interest
• High RVol = high liquidity and momentum potential

2️⃣ DAILY % CHANGE ≥10% (Automated ✅)
• Stock must already be showing momentum
• Default threshold: 10% up from previous close
• Confirms demand is already present

3️⃣ NEWS CATALYST (Manual Check ⚠️)
• Breaking news justifies the price movement
• Look for: earnings, FDA approvals, partnerships, contracts
• 🔥 icon flags stocks with ≥15% momentum (likely news-driven)

4️⃣ PRICE RANGE $1-$20 (Automated ✅)
• Sweet spot for retail trader momentum
• Highly volatile small-cap stocks
• Accessible price range for position building

5️⃣ FLOAT <10 MILLION SHARES (Automated ✅)
• Low float creates supply/demand imbalances
• Enables explosive 50-100%+ intraday moves
• Automatically checked when data available
• Shows actual float with ✅/❌ indicator

🚀 KEY FEATURES

✅ GREEN BACKGROUND HIGHLIGHT
• Visual alert when ALL automated criteria are met
• Instantly identify potential setups while scanning watchlist

📋 DETAILED BREAKDOWN TABLE
• Shows pass/fail status for each pillar
• Displays actual values (RVol, %, Float, etc.)
• Color-coded for quick interpretation

🔥 STRONG MOMENTUM INDICATOR
• Highlights stocks ≥15% (likely have news catalyst)
• Helps prioritize which stocks to research first

🔔 BUILT-IN ALERTS
• "Ross Cameron Criteria Met" - All automated criteria pass
• "Strong Momentum Alert" - Stock showing explosive movement

⚙️ FULLY CUSTOMIZABLE
• Adjust all thresholds to your trading style
• Configurable table position and display
• Toggle volume spike filter on/off

💡 HOW TO USE

BEST WORKFLOW:
1. Build a watchlist of small-cap stocks using TradingView's Stock Screener
2. Add this indicator to your charts
3. Flip through your watchlist - look for GREEN BACKGROUNDS
4. Check the table for detailed breakdown of each pillar
5. VERIFY NEWS CATALYST (required for Pillar 3)
6. If float shows N/A, verify manually on Finviz
7. Execute your trading plan with proper risk management

OPTIMAL TIMING:
• Pre-Market (8:00-9:30 AM ET) - Identify gap-up candidates
• Morning Session (9:30 AM-12:00 PM ET) - Prime momentum window
• Avoid lunch hour (12:00-2:00 PM ET) - Low volume, choppy

ALERT SETUP:
1. Click "Create Alert" on your chart
2. Select "Ross Cameron Criteria Met" condition
3. Get notified when new setups appear real-time

⚙️ CUSTOMIZABLE SETTINGS

PILLAR 1 - RELATIVE VOLUME:
• Min RVol: 5.0x (Ross's minimum, increase for more selective)
• RVol Period: 30 days (industry standard)

PILLAR 2 - MOMENTUM:
• Min Daily %: 10% (increase to 15% for stronger setups)

PILLAR 3 - CATALYST:
• Strong Momentum %: 15% (threshold for 🔥 indicator)

PILLAR 4 - PRICE RANGE:
• Min Price: $1.00 (adjust based on account size)
• Max Price: $20.00 (Ross's sweet spot)

PILLAR 5 - FLOAT:
• Max Float: 10M shares (ultra-aggressive traders use 5M)

ADDITIONAL FILTERS:
• Volume Spike: 2x (Warrior Trading standard)
• Confirms intraday momentum continuation

📈 INTERPRETATION GUIDE

✅ GREEN BACKGROUND = GO!
• All automated criteria are met
• Check news catalyst before trading
• Verify setup on chart (not overextended)
• Follow your risk management plan

❌ NO GREEN BACKGROUND = WAIT
• At least one criterion failed
• Check table to see which pillar(s) failed
• May become valid later if momentum increases

🔥 FLAME ICON = HIGH PRIORITY
• Stock showing very strong momentum (≥15%)
• Likely has significant news catalyst
• Research news IMMEDIATELY
• Often the best setups of the day

⚠️ N/A FOR FLOAT = MANUAL CHECK
• TradingView doesn't have float data for this symbol
• Verify on Finviz.com or similar
• If float >10M, setup is invalid per Ross's criteria

📚 RECOMMENDED STRATEGIES

GAP AND GO:
• Stock gaps up 10%+ on news
• Enters above gap high with volume
• Targets: 20-50% gains

VWAP BOUNCE:
• Pullback to VWAP support
• Enters on bounce with volume confirmation
• Tight stop below VWAP

HIGH OF DAY BREAKOUT:
• New HOD with volume surge
• Momentum continuation play
• Trail stop as it runs

ABCD PATTERN:
• Classic reversal pattern
• Enters on D-point breakout
• Target: A-B distance from C

⚠️ RISK WARNINGS

• DAY TRADING IS HIGHLY RISKY - Most day traders lose money
• This indicator finds setups - YOUR EXECUTION determines success
• Always use proper risk management (1-2% risk per trade)
• Never trade without stop losses
• Paper trade extensively before using real money
• Past performance does not guarantee future results

🔧 TECHNICAL DETAILS

• Pine Script v6
• Works on any timeframe (calculates daily metrics automatically)
• Compatible with TradingView Free, Pro, Premium
• No repainting - all calculations based on confirmed data
• Efficient code - minimal lag

📊 DATA SOURCES

• Relative Volume: Calculated from 30-day volume average
• Daily %: Previous day's close vs current price
• Float: TradingView's shares_outstanding_float data
• Volume Spike: 20-period volume moving average

🎯 WHO THIS IS FOR

IDEAL FOR:
✅ Day traders focused on momentum strategies
✅ Traders who follow Ross Cameron/Warrior Trading methodology
✅ Small-cap stock traders ($1-$20 range)
✅ Scalpers and swing traders seeking high-volatility setups

NOT IDEAL FOR:
❌ Long-term investors
❌ Large-cap stock traders
❌ Options-only traders
❌ Traders who don't monitor news catalysts

💬 USAGE TIPS

1. COMBINE WITH OTHER TOOLS
• Use alongside your charting/technical analysis
• Verify pattern setups (bull flags, ABCD, etc.)
• Check Level 2 / Time & Sales for confirmation

2. MAINTAIN A WATCHLIST
• Update daily with fresh small-cap movers
• Use Finviz Gap Scanner as starting point
• Focus on sectors with momentum

3. RISK MANAGEMENT IS KEY
• Never risk more than 1-2% per trade
• Use 2:1 minimum profit/loss ratio
• Cut losses quickly, let winners run
• Position size based on volatility (ATR)

4. TRACK YOUR RESULTS
• Keep a trading journal
• Note which setups work best for you
• Refine criteria based on your data
• Continuous improvement mindset

📝 DISCLAIMER

This indicator is for EDUCATIONAL PURPOSES ONLY. It is not investment advice, a recommendation to buy/sell securities, or a guarantee of profits. Trading involves substantial risk of loss. Always:

• Conduct your own research and due diligence
• Consult with a licensed financial advisor
• Never risk money you cannot afford to lose
• Understand that most day traders lose money
• Practice in a simulator before trading real money

The creator of this indicator is not affiliated with Ross Cameron or Warrior Trading. This is an independent implementation of publicly available trading methodology.

📈 SUPPORT & FEEDBACK

If you find this indicator helpful, please:
• Give it a thumbs up 👍
• Leave a comment with your experience
• Share with other momentum traders
• Follow for updates and new indicators

For questions or suggestions, leave a comment below!

---

🏆 HAPPY TRADING! Remember: The indicator finds opportunities, but YOUR discipline, risk management, and execution determine your success.

#DayTrading #Momentum #RossCameron #WarriorTrading #SmallCaps #GapAndGo #Scalping #StockScreener