AlpharvestPro明納維尼階段分析（SEPA）完整指南
Complete Guide to Minervini Stage Analysis (SEPA)明納維尼階段分析（SEPA）完整指南
What is SEPA?
Mark Minervini's Specific Entry Point Analysis (SEPA) is a systematic method for identifying high-momentum stocks at optimal entry points. Minervini, a U.S. Investing Champion, developed this approach by studying the characteristics shared by the biggest stock market winners before their major price advances.
The core idea: stocks that meet specific technical criteria — what Minervini calls the "Trend Template" — have a statistically higher probability of making significant upward moves.
什麼是 SEPA？
馬克·明納維尼提出的 SEPA（Specific Entry Point Analysis,特定進場點分析法）是一套有系統的方法,用於在最佳進場點挑選高動能個股。明納維尼是美國投資冠軍賽（U.S. Investing Championship）得主,他透過研究歷史上漲幅最大的飆股在大波段啟動前的共通特徵,發展出這套手法。
核心概念非常簡潔:符合明納維尼所謂「趨勢樣板」之特定技術條件的個股,從統計上來說,出現顯著上漲的機率明顯高於一般股票 ── 這正是 SEPA 最根本的判斷邏輯。
The 10 Trend Template Criteria
Minervini's trend template uses 10 technical conditions to qualify a stock as being in an ideal momentum position:
| # | Criterion | What It Means |
|---|---|---|
| 1 | Price > MA50 | Stock is above its 50-day moving average — short-term uptrend |
| 2 | Price > MA150 | Stock is above its 150-day moving average — medium-term uptrend |
| 3 | Price > MA200 | Stock is above its 200-day moving average — long-term uptrend |
| 4 | MA50 > MA150 | Short-term trend is stronger than medium-term |
| 5 | MA50 > MA200 | Short-term trend is stronger than long-term |
| 6 | MA150 > MA200 | Medium-term trend is stronger than long-term (all 3 MAs stacked) |
| 7 | MA200 trending up | 200-day MA has positive slope (~20-day lookback) |
| 8 | Price within 25% of 52-week high | Stock is near highs, not in deep correction |
| 9 | Price at least 25% above 52-week low | Stock has shown significant recovery/advance |
| 10 | RS Rating >= 70 | Stock outperforms 70%+ of all stocks over 12 months |
Each criterion that a stock passes scores 1 point. A perfect score of 10/10 means the stock meets every condition of the trend template.
趨勢樣板 10 項條件
| # | 條件 | 代表意義 |
|---|---|---|
| 1 | 股價 > MA50 | 站上 50 日移動平均線 ── 短期上升趨勢 |
| 2 | 股價 > MA150 | 站上 150 日移動平均線 ── 中期上升趨勢 |
| 3 | 股價 > MA200 | 站上 200 日移動平均線 ── 長期上升趨勢 |
| 4 | MA50 > MA150 | 短期趨勢強於中期 |
| 5 | MA50 > MA200 | 短期趨勢強於長期 |
| 6 | MA150 > MA200 | 中期趨勢強於長期(3 條均線完整多頭排列) |
| 7 | MA200 向上 | 200 日均線斜率為正(以近 20 個交易日判定) |
| 8 | 股價在 52 週高點 25% 之內 | 處於高檔附近,未陷入深度修正 |
| 9 | 股價較 52 週低點高出至少 25% | 已自底部明顯回升 |
| 10 | RS 相對強弱評等 ≥ 70 | 過去 12 個月表現勝過全市場 70% 以上的個股 |
每符合一項加 1 分,滿分 10/10 代表完全符合趨勢樣板的所有條件。
評分系統運作方式
AlpharvestPro 每日為涵蓋範圍內的所有個股計算明納維尼分數:
- 日本股市: 3,658 檔(以 JPX-400 為核心)
- 美國股市: 5,746 檔(以 S&P 500 為核心)
- 台股: 1,925 檔(以 TW200 為核心)
- 港股: 2,378 檔(以 HSLMI 為核心)
分數判讀:
- 10/10: 完全符合趨勢樣板 ── 最強的動能候選
- 8-9/10: 強勢候選 ── 僅 1-2 項輕微未達
- 6-7/10: 中等 ── 部分趨勢條件不符
- 低於 6: 上升趨勢尚未確立 ── 進場風險偏高
How the Scoring System Works
AlpharvestPro calculates the Minervini Score for every stock in our coverage universe:
- Japan: 3,658 stocks (JPX-400 focused)
- US: 5,746 stocks (S&P 500 focused)
- Taiwan: 1,925 stocks (TW200 focused)
- Hong Kong: 2,378 stocks (HSLMI focused)
Score interpretation:
- 10/10: Perfect trend template match — strongest momentum candidates
- 8-9/10: Strong candidates — one or two minor deviations
- 6-7/10: Moderate — some trend conditions not met
- Below 6: Not in a confirmed uptrend — higher risk entries
Practical Application
What to look for:
- Score 8+ stocks are the primary watchlist candidates
- Rising score trend — a stock going from 6 → 8 → 10 over weeks shows improving momentum
- Score combined with RS Rating 80+ gives the highest-probability setups
- Volume confirmation — score alone isn't enough; watch for volume expansion on breakouts
What to avoid:
- Don't buy a stock just because it scores 10/10 — wait for a proper entry signal (VCP breakout, Pocket Pivot, etc.)
- Don't hold a stock whose score is declining — from 10 → 8 → 6 suggests the trend is weakening
- Don't ignore market conditions — even 10/10 stocks struggle in bear markets
實戰應用
觀察重點:
- 分數 8 以上的個股是觀察清單的首要候選
- 分數上升趨勢 ── 數週內由 6 → 8 → 10 持續走高,代表動能正在改善
- 搭配 RS 相對強弱評等 80 以上 ── 此為勝率最高的搭配組合
- 成交量確認 ── 光看分數還不夠,突破當日必須伴隨成交量明顯放大
應避免的行為:
- 不要單憑 10/10 滿分就買進 ── 仍須等待明確的進場訊號(VCP 突破、口袋樞紐等)
- 不要持有分數正在下滑的個股 ── 從 10 → 8 → 6 一路下滑代表趨勢正在轉弱
- 不要忽視大盤環境 ── 在空頭市場裡,即使是 10/10 滿分股也會步履維艱
AlpharvestPro 每日掃描流程
自動化作業流程在每個市場收盤後依序啟動:
- 資料收集: 取得所有個股的股價、成交量與均線資料
- 趨勢樣板評分: 依 10 項條件為每檔個股打分
- 過濾: 將分數達 8 分以上者標示為明納維尼候選股
- 產製報表: 輸出可排序的 HTML/CSV 報表
- 發佈: 報表發佈於 alpharvestpro.com(日股/美股)與 alpharvestpro.win(台股/港股)
整套流程於本站伺服器全自動執行 ── 無需任何人工介入。
How AlpharvestPro Screens Daily
Our automated pipeline runs after each market's close:
- Data collection: Price, volume, and moving average data for all stocks
- Trend template scoring: Each stock scored against 10 criteria
- Filtering: Stocks scoring 8+ are highlighted as Minervini Candidates
- Report generation: HTML/CSV reports with sortable tables
- Distribution: Reports published to alpharvestpro.com (JP/US) and alpharvestpro.win (TW/HK)
The entire process is auto-generated by our server — no manual intervention needed.
FAQ
How often is the Minervini screening updated?
Every trading day, within 2 hours of market close for each market.
Can I use Minervini scoring alone to make trading decisions?
No. The Minervini Score identifies stocks in strong uptrends, but you still need proper entry timing. Combine with VCP patterns, Pocket Pivots, or other entry signals.
What's the difference between Minervini Score and RS Rating?
Minervini Score measures whether a stock meets the 10 trend template criteria (current technical position). RS Rating measures relative price performance over the past 12 months (historical momentum). Both are important — strong stocks typically rank high on both.
Does this work for all markets?
Yes. The Minervini methodology is universal — it works on any liquid stock market. AlpharvestPro applies it across Japan, US, Taiwan, and Hong Kong.
明納維尼掃描多久更新一次?
每個交易日,於各市場收盤後 2 小時內完成更新。
我可以單靠明納維尼分數做交易決策嗎?
不行。明納維尼分數能挑出處於強勢上升趨勢的個股,但仍需要正確的進場時機。請與 VCP 波動收縮型態、口袋樞紐(Pocket Pivot)等進場訊號搭配使用。
明納維尼分數和 RS 相對強弱評等有什麼不同?
明納維尼分數衡量的是個股是否符合趨勢樣板的 10 項條件(目前技術面位置);RS 相對強弱評等衡量的則是過去 12 個月的相對股價表現(歷史動能)。兩者同等重要 ── 強勢股通常在兩個指標上都會排在前段。
這套方法對所有市場都適用嗎?
是的。明納維尼手法是普世通用的 ── 在任何流動性充足的股票市場都能運作。AlpharvestPro 將其同步應用於日本、美國、台灣、香港四大市場。
This content is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or solicitation to buy or sell securities.
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