diff --git a/app/schemas/admin.py b/app/schemas/admin.py
index 1bd5a3f..18760fa 100644
--- a/app/schemas/admin.py
+++ b/app/schemas/admin.py
@@ -59,7 +59,7 @@ class TickerUniverseUpdate(BaseModel):
 
 class ActivationConfigUpdate(BaseModel):
     """Activation gate: what counts as an actionable signal."""
-    min_expected_value: float | None = Field(default=None, ge=-1, le=10)
+    min_momentum_percentile: float | None = Field(default=None, ge=0, le=100)
     min_rr: float | None = Field(default=None, ge=0)
     min_confidence: float | None = Field(default=None, ge=0, le=100)
     min_target_probability: float | None = Field(default=None, ge=0, le=100)
diff --git a/app/services/admin_service.py b/app/services/admin_service.py
index 7e85705..bea22dc 100644
--- a/app/services/admin_service.py
+++ b/app/services/admin_service.py
@@ -43,7 +43,7 @@ SUPPORTED_TICKER_UNIVERSES = {"sp500", "nasdaq100", "nasdaq_all"}
 # confidence are floors; high-conviction / clean-read / target-probability are
 # optional tighteners (off by default — turn on to be more selective).
 _ACTIVATION_FLOAT_KEYS: dict[str, str] = {
-    "min_expected_value": "activation_min_expected_value",
+    "min_momentum_percentile": "activation_min_momentum_percentile",
     "min_rr": "activation_min_rr",
     "min_confidence": "activation_min_confidence",
     "min_target_probability": "activation_min_target_probability",
@@ -53,7 +53,7 @@ _ACTIVATION_BOOL_KEYS: dict[str, str] = {
     "exclude_conflicts": "activation_exclude_conflicts",
 }
 ACTIVATION_DEFAULTS: dict[str, float | bool] = {
-    "min_expected_value": 0.15,
+    "min_momentum_percentile": 80.0,
     "min_rr": 1.2,
     "min_confidence": 55.0,
     "min_target_probability": 0.0,
@@ -201,8 +201,8 @@ async def update_activation_config(
     db: AsyncSession, updates: dict[str, float | bool]
 ) -> dict[str, float | bool]:
     """Update the activation gate. Accepts public keys; only supplied keys change."""
-    if "min_expected_value" in updates and not -1.0 <= updates["min_expected_value"] <= 10.0:
-        raise ValidationError("min_expected_value must be between -1 and 10 (R units)")
+    if "min_momentum_percentile" in updates and not 0 <= updates["min_momentum_percentile"] <= 100:
+        raise ValidationError("min_momentum_percentile must be between 0 and 100")
     if "min_rr" in updates and updates["min_rr"] < 0:
         raise ValidationError("min_rr must be >= 0")
     if "min_confidence" in updates and not 0 <= updates["min_confidence"] <= 100:
diff --git a/app/services/backtest_service.py b/app/services/backtest_service.py
index a36fdf7..c5e61a6 100644
--- a/app/services/backtest_service.py
+++ b/app/services/backtest_service.py
@@ -14,6 +14,7 @@ held neutral here — this calibrates the price/S-R/probability machinery only.
 
 from __future__ import annotations
 
+import asyncio
 import json
 import logging
 import math
@@ -40,7 +41,6 @@ from app.services.outcome_service import (
 from app.services.price_service import query_ohlcv
 from app.services.qualification import (
     best_target_probability,
-    expected_value_r,
     setup_qualifies,
 )
 from app.services.recommendation_service import (
@@ -110,6 +110,14 @@ def _window_setups(
     if entry <= 0:
         return []
 
+    # 12-1 month momentum (skip the last month) — the universe ranks on this.
+    # None until a year of history exists; such setups can't qualify on momentum.
+    mom_12_1 = (
+        closes[-22] / closes[-253] - 1.0
+        if len(closes) >= 253 and closes[-253] > 0
+        else None
+    )
+
     try:
         atr = compute_atr(highs, lows, closes)["atr"]
     except Exception:
@@ -180,13 +188,12 @@ def _window_setups(
             stop_loss=stop,
             entry_price=entry,
         )
-        # meets_core = clears every gate EXCEPT the expected-value floor, so the
-        # report can sweep the min_expected_value threshold without re-replaying.
-        core_config = {**activation, "min_expected_value": float("-inf")}
+        # meets_core = clears every gate EXCEPT the cross-sectional momentum
+        # percentile, which can only be assigned once all tickers' setups for a
+        # week are known. run_backtest ranks momentum and finalizes `qualified`.
+        core_config = {**activation, "min_momentum_percentile": 0.0}
         meets_core = setup_qualifies(setup_ns, core_config)
-        ev = expected_value_r(setup_ns)
         best_prob = best_target_probability(setup_ns)
-        min_ev = float(activation.get("min_expected_value", 0.0))
         out.append({
             "direction": direction,
             "entry": entry,
@@ -196,11 +203,10 @@ def _window_setups(
             "confidence": confidences[direction],
             "primary_prob": float(primary["probability"]),
             "best_prob": best_prob,
-            "ev": ev,
+            "momentum": mom_12_1,
             "meets_core": meets_core,
             "action": action,
             "risk_level": risk_level,
-            "qualified": meets_core and ev is not None and ev >= min_ev,
         })
     return out
 
@@ -230,17 +236,18 @@ def _replay_ticker(symbol: str, records: list, config: dict, activation: dict) -
                 realized_r = -1.0
             else:  # expired
                 realized_r = 0.0
+            iso = records[i].date.isocalendar()
             candidates.append({
                 "symbol": symbol,
                 "date": records[i].date.isoformat(),
+                "iso_week": (iso[0], iso[1]),
                 "direction": s["direction"],
                 "rr": s["rr"],
                 "confidence": s["confidence"],
                 "primary_prob": s["primary_prob"],
                 "best_prob": s["best_prob"],
-                "ev": s["ev"],
+                "momentum": s["momentum"],
                 "meets_core": s["meets_core"],
-                "qualified": s["qualified"],
                 "outcome": outcome,
                 "target_hit": target_hit,
                 "realized_r": realized_r,
@@ -484,6 +491,49 @@ def _signal_evaluation(collected: dict) -> list[dict]:
     return rows
 
 
+def _process_ticker(
+    symbol: str,
+    records: list,
+    config: dict,
+    activation: dict,
+    collected: dict,
+) -> list[dict]:
+    """The CPU-bound per-ticker work — replay + signal accumulation — bundled so
+    run_backtest can hand it to a worker thread. Mutates ``collected``."""
+    cands = _replay_ticker(symbol, records, config, activation)
+    _accumulate_signal_series(records, collected)
+    return cands
+
+
+def _assign_momentum_percentiles(candidates: list[dict]) -> None:
+    """Per ISO week, rank candidates by their ticker's 12-1 momentum and attach a
+    0–100 ``momentum_percentile`` (100 = highest momentum in the universe that
+    week). Candidates whose momentum is unknown (insufficient lookback) get None
+    and therefore can't clear a momentum gate. Mutates ``candidates``."""
+    by_week: dict = defaultdict(list)
+    for c in candidates:
+        if c.get("momentum") is not None:
+            by_week[c["iso_week"]].append(c)
+    for group in by_week.values():
+        ordered = sorted(group, key=lambda c: c["momentum"])
+        n = len(ordered)
+        for rank, c in enumerate(ordered):
+            c["momentum_percentile"] = (rank / (n - 1) * 100.0) if n > 1 else 100.0
+    for c in candidates:
+        c.setdefault("momentum_percentile", None)
+
+
+def _momentum_qualifies(cand: dict, threshold: float) -> bool:
+    """Whether a candidate clears the floors (meets_core) and the momentum gate.
+    Threshold 0 disables the momentum gate (floors only)."""
+    if not cand["meets_core"]:
+        return False
+    if threshold <= 0:
+        return True
+    mp = cand.get("momentum_percentile")
+    return mp is not None and mp >= threshold
+
+
 async def run_backtest(
     db: AsyncSession,
     progress_cb: Callable[[int, int, str], None] | None = None,
@@ -504,29 +554,50 @@ async def run_backtest(
             progress_cb(index, total, ticker.symbol)
         try:
             records = await query_ohlcv(db, ticker.symbol)
-            candidates.extend(_replay_ticker(ticker.symbol, records, config, activation))
-            _accumulate_signal_series(records, collected)
+            # Detach the ORM rows to plain objects in the event loop (safe to read
+            # here), then run the heavy replay in a worker thread. The compute is
+            # CPU-bound and used to block the event loop — and the API server with
+            # it — for the whole run; offloading lets CPython hand the GIL back to
+            # the loop every few ms so health checks / page loads stay responsive.
+            bars = [
+                SimpleNamespace(
+                    date=r.date,
+                    open=float(r.open),
+                    high=float(r.high),
+                    low=float(r.low),
+                    close=float(r.close),
+                    volume=int(r.volume),
+                )
+                for r in records
+            ]
+            cands = await asyncio.to_thread(
+                _process_ticker, ticker.symbol, bars, config, activation, collected
+            )
+            candidates.extend(cands)
         except Exception:
             logger.exception("Backtest replay failed for %s", ticker.symbol)
 
     if progress_cb is not None and total:
         progress_cb(total, total, "")
 
+    # Cross-sectional momentum: rank every week's universe, then "qualified" means
+    # floors + top ``min_momentum_percentile`` by 12-1 momentum.
+    _assign_momentum_percentiles(candidates)
+    current_min_pct = float(activation.get("min_momentum_percentile", 80.0))
+    for c in candidates:
+        c["qualified"] = _momentum_qualifies(c, current_min_pct)
+
     qualified = [c for c in candidates if c["qualified"]]
     longs = [c for c in qualified if c["direction"] == "long"]
     shorts = [c for c in qualified if c["direction"] == "short"]
 
-    # Threshold sweep: re-apply the gate at several min_expected_value values
-    # (holding the other conditions fixed) so the trade-off between how many
-    # setups qualify and their expectancy is visible without re-replaying.
-    current_min_ev = float(activation.get("min_expected_value", 0.15))
+    # Threshold sweep: re-apply the momentum gate at several percentile cutoffs
+    # (floors held fixed) so the trade-off between how many setups qualify and
+    # their expectancy is visible without re-replaying. 0 = floors only.
     sweep = []
-    for threshold in (0.4, 0.3, 0.25, 0.2, 0.15, 0.1, 0.05, 0.0):
-        cands = [
-            c for c in candidates
-            if c["meets_core"] and c["ev"] is not None and c["ev"] >= threshold
-        ]
-        sweep.append({"min_expected_value": threshold, **_bucket_stats(cands)})
+    for threshold in (90.0, 80.0, 70.0, 60.0, 50.0, 0.0):
+        cands = [c for c in candidates if _momentum_qualifies(c, threshold)]
+        sweep.append({"min_momentum_percentile": threshold, **_bucket_stats(cands)})
 
     return {
         "generated_at": datetime.now(timezone.utc).isoformat(),
@@ -541,7 +612,7 @@ async def run_backtest(
             "long": _bucket_stats(longs),
             "short": _bucket_stats(shorts),
         },
-        "min_expected_value": current_min_ev,
+        "min_momentum_percentile": current_min_pct,
         "sweep": sweep,
         "calibration": _calibration(candidates),
         "signal_eval": _signal_evaluation(collected),
diff --git a/app/services/qualification.py b/app/services/qualification.py
index 292fe21..54ed0fc 100644
--- a/app/services/qualification.py
+++ b/app/services/qualification.py
@@ -1,11 +1,14 @@
 """Shared definition of a 'qualified' (actionable) trade setup.
 
 A single predicate, driven by the admin activation config, used by the
-performance stats (server) and mirrored on the frontend. The core gate is
-expected value (in R): a setup must promise positive, probability-weighted
-asymmetry, not just a fat-but-improbable target or a likely-but-thin one. R:R
-and confidence remain as floors, and conviction/conflict/target-probability
-survive as optional tighteners (off by default).
+performance stats (server) and mirrored on the frontend. The core selection is
+cross-sectional momentum: a setup's ticker must rank in the top
+``min_momentum_percentile`` of the universe by 12-1 month momentum — the one
+signal the backtest showed actually sorts forward returns. R:R and confidence
+remain as floors, and conviction/conflict/target-probability survive as optional
+tighteners (off by default). The momentum percentile is computed across the
+universe and attached to each setup upstream; when it's absent the gate falls
+back to the floors.
 """
 
 from __future__ import annotations
@@ -22,37 +25,6 @@ def best_target_probability(setup: Any) -> float:
     return max(probs, default=0.0)
 
 
-def primary_target_probability(setup: Any) -> float | None:
-    """Probability of the starred primary target (the one the headline R:R refers
-    to). Falls back to the best target's probability when none is flagged primary,
-    and None when there are no targets at all (probability unknowable).
-    """
-    targets = getattr(setup, "targets", None) or []
-    primary = next(
-        (t for t in targets if isinstance(t, dict) and t.get("is_primary")), None
-    )
-    if primary is not None:
-        return float(primary.get("probability", 0.0))
-    probs = [float(t.get("probability", 0.0)) for t in targets if isinstance(t, dict)]
-    return max(probs) if probs else None
-
-
-def expected_value_r(setup: Any) -> float | None:
-    """Expected value per unit of risk, in R: ``p·(R:R) − (1 − p)``.
-
-    ``p`` is the primary target's hit probability. This single number captures
-    "is this worth taking": it rewards both a good payoff ratio and a likely
-    target, so a fat-but-improbable target can't outrank a solid, probable one —
-    and a high R:R no longer fights a high probability the way the old separate
-    gates did. Returns None when no target probability is known.
-    """
-    p = primary_target_probability(setup)
-    if p is None:
-        return None
-    p = p / 100.0
-    return p * setup.rr_ratio - (1.0 - p)
-
-
 def live_risk_reward(setup: Any, current_price: float) -> float | None:
     """R:R recomputed from the CURRENT price, not the (possibly stale) entry.
 
@@ -77,10 +49,10 @@ def setup_qualifies(setup: Any, config: dict) -> bool:
     ``setup`` is duck-typed: any object exposing rr_ratio, confidence_score,
     recommended_action, risk_level and a ``targets`` list of dicts.
 
-    Gate order: R:R floor → freshness (live R:R) → confidence floor → expected
-    value (the core test) → optional conviction / conflict / target-probability
-    tighteners. ``min_expected_value`` defaults to -inf for callers that pass a
-    legacy config without the key, so they behave exactly as before.
+    Gate order: R:R floor → freshness (live R:R) → confidence floor → momentum
+    percentile (the core selection) → optional conviction / conflict /
+    target-probability tighteners. ``min_momentum_percentile`` defaults to 0 (off)
+    for callers that pass a legacy config without the key.
     """
     if setup.rr_ratio < config["min_rr"]:
         return False
@@ -94,13 +66,15 @@ def setup_qualifies(setup: Any, config: dict) -> bool:
             return False
     if (setup.confidence_score or 0.0) < config["min_confidence"]:
         return False
-    # Expected value (R): the core gate. Only enforced when computable — setups
-    # without target probabilities (e.g. legacy historical rows) defer to the
-    # R:R + confidence floors above rather than being silently dropped.
-    min_ev = float(config.get("min_expected_value", float("-inf")))
-    ev = expected_value_r(setup)
-    if ev is not None and ev < min_ev:
-        return False
+    # Cross-sectional momentum: the core selection. A setup's ticker must rank in
+    # the top ``min_momentum_percentile`` of the universe by 12-1 momentum. Only
+    # enforced when a percentile is attached (live setups / backtest) and a
+    # threshold is set; callers that don't attach it defer to the floors above.
+    min_pct = float(config.get("min_momentum_percentile", 0.0))
+    if min_pct > 0:
+        momentum_percentile = getattr(setup, "momentum_percentile", None)
+        if momentum_percentile is not None and momentum_percentile < min_pct:
+            return False
     if config.get("require_high_conviction"):
         if (setup.recommended_action or "") not in HIGH_CONVICTION_ACTIONS:
             return False
diff --git a/frontend/src/components/admin/ActivationSettings.tsx b/frontend/src/components/admin/ActivationSettings.tsx
index 25d57a5..d1113c5 100644
--- a/frontend/src/components/admin/ActivationSettings.tsx
+++ b/frontend/src/components/admin/ActivationSettings.tsx
@@ -4,7 +4,7 @@ import { useActivationSettings, useUpdateActivationSettings } from '../../hooks/
 import { SkeletonTable } from '../ui/Skeleton';
 
 const DEFAULTS: ActivationConfig = {
-  min_expected_value: 0.15,
+  min_momentum_percentile: 80,
   min_rr: 1.2,
   min_confidence: 55,
   min_target_probability: 0,
@@ -40,26 +40,27 @@ export function ActivationSettings() {
         <h3 className="text-sm font-semibold text-gray-200">Activation Gate</h3>
         <p className="mt-1 text-xs text-gray-500">
           What counts as a signal worth acting on. Drives the Dashboard's "Qualified" metric, the
-          Signals "Qualified only" view, and the Track Record's qualified stats. The core test is
-          <span className="text-gray-300"> expected value</span> — probability-weighted asymmetry —
-          so R:R and target probability no longer fight each other. All setups are still evaluated
-          regardless; tune the EV floor against the Track Record's EV sweep to see what actually wins.
+          Signals "Qualified only" view, and the Track Record's qualified stats. The core selection is
+          <span className="text-gray-300"> cross-sectional momentum</span> — the ticker must rank in the
+          top slice of the universe by 12-1 month momentum, the one signal the backtest showed predicts
+          forward returns. R:R and confidence stay as floors. Tune the cutoff against the Track Record's
+          momentum sweep to see what actually wins.
         </p>
       </div>
 
       <div className="grid gap-4 md:grid-cols-3">
         <label className="block space-y-1">
-          <span className="text-xs text-gray-400">Min Expected Value (R)</span>
+          <span className="text-xs text-gray-400">Min Momentum Percentile</span>
           <input
             type="number"
-            min={-1}
-            max={10}
-            step={0.05}
-            value={form.min_expected_value}
-            onChange={(e) => setForm((prev) => ({ ...prev, min_expected_value: Number(e.target.value) }))}
+            min={0}
+            max={100}
+            step={5}
+            value={form.min_momentum_percentile}
+            onChange={(e) => setForm((prev) => ({ ...prev, min_momentum_percentile: Number(e.target.value) }))}
             className="w-full input-glass px-3 py-2 text-sm"
           />
-          <span className="text-[11px] text-gray-600">p·R:R − (1−p), in R. 0.15 ≈ +0.15× risk/trade. The core gate.</span>
+          <span className="text-[11px] text-gray-600">Ticker's 12-1 momentum rank. 80 = top 20% of the universe. 0 disables. The core gate.</span>
         </label>
         <label className="block space-y-1">
           <span className="text-xs text-gray-400">Min Risk:Reward (1 : x)</span>
@@ -89,7 +90,7 @@ export function ActivationSettings() {
 
       <div className="border-t border-white/[0.06] pt-4">
         <p className="text-xs font-medium uppercase tracking-widest text-gray-500">Optional tighteners</p>
-        <p className="mt-1 text-[11px] text-gray-600">Off by default — turn on to be more selective on top of the EV gate.</p>
+        <p className="mt-1 text-[11px] text-gray-600">Off by default — turn on to be more selective on top of the momentum gate.</p>
         <div className="mt-3 grid gap-3 md:grid-cols-3">
           <label className="block space-y-1">
             <span className="text-xs text-gray-400">Min Target Probability (%)</span>
diff --git a/frontend/src/components/signals/BacktestPanel.tsx b/frontend/src/components/signals/BacktestPanel.tsx
index 639fe2d..264533f 100644
--- a/frontend/src/components/signals/BacktestPanel.tsx
+++ b/frontend/src/components/signals/BacktestPanel.tsx
@@ -184,19 +184,19 @@ export function BacktestPanel() {
             {report.sweep && report.sweep.length > 0 && (
               <div>
                 <p className="mb-2 text-xs font-medium uppercase tracking-widest text-gray-500">
-                  Min expected-value sweep
+                  Momentum-percentile sweep
                 </p>
                 <p className="mb-2 text-[11px] text-gray-500">
-                  How many setups qualify — and how they perform — at each expected-value gate (other
-                  gate conditions held fixed). EV is in R: 0.15 means +0.15× your risk per trade on
-                  average. Lower = more trades, watch that expectancy holds. Your current setting is
+                  How many setups qualify — and how they perform — at each momentum-rank cutoff (floors
+                  held fixed). 80 = only the top 20% of the universe by 12-1 momentum each week; 0 =
+                  floors only. Lower = more trades, watch that expectancy holds. Your current setting is
                   highlighted; set it in Admin → Settings → Activation.
                 </p>
                 <div className="glass overflow-x-auto">
                   <table className="w-full text-sm">
                     <thead>
                       <tr className="border-b border-white/[0.06] text-left text-xs uppercase tracking-wider text-gray-500">
-                        <th className="px-4 py-2.5">Min EV (R)</th>
+                        <th className="px-4 py-2.5">Min momentum %ile</th>
                         <th className="px-4 py-2.5 text-right">Qualified</th>
                         <th className="px-4 py-2.5 text-right">Wins</th>
                         <th className="px-4 py-2.5 text-right">Losses</th>
@@ -207,12 +207,12 @@ export function BacktestPanel() {
                     </thead>
                     <tbody>
                       {report.sweep.map((row) => {
-                        const current = Math.abs(row.min_expected_value - report.min_expected_value) < 0.001;
+                        const current = Math.abs(row.min_momentum_percentile - report.min_momentum_percentile) < 0.001;
                         return (
-                          <tr key={row.min_expected_value} className={`border-b border-white/[0.04] ${current ? 'bg-blue-400/10' : ''}`}>
+                          <tr key={row.min_momentum_percentile} className={`border-b border-white/[0.04] ${current ? 'bg-blue-400/10' : ''}`}>
                             <td className="num px-4 py-2.5 text-gray-200">
                               {current && <span className="mr-1 text-blue-300">★</span>}
-                              {row.min_expected_value.toFixed(2)}
+                              {row.min_momentum_percentile.toFixed(0)}
                             </td>
                             <td className="num px-4 py-2.5 text-right text-gray-200">{row.total}</td>
                             <td className="num px-4 py-2.5 text-right text-emerald-400">{row.wins}</td>
diff --git a/frontend/src/lib/qualification.ts b/frontend/src/lib/qualification.ts
index 59b15f3..d366c87 100644
--- a/frontend/src/lib/qualification.ts
+++ b/frontend/src/lib/qualification.ts
@@ -13,21 +13,6 @@ export function primaryTargetProbability(setup: TradeSetup): number | null {
   return setup.targets?.length ? bestTargetProbability(setup) : null;
 }
 
-/**
- * Expected value per unit of risk, in R. Probability-weighted payoff:
- *   EV = p·(R:R) − (1 − p)
- * where p is the primary target's hit probability. This is the single "is this
- * worth taking" number — it rewards both a good payoff ratio and a likely
- * target, so a fat-but-improbable target can't outrank a solid, probable one.
- * Returns null when no target probability is known.
- */
-export function expectedValueR(setup: TradeSetup): number | null {
-  const prob = primaryTargetProbability(setup);
-  if (prob == null) return null;
-  const p = prob / 100;
-  return p * setup.rr_ratio - (1 - p);
-}
-
 /** R:R recomputed from the current price (0 if no reward/risk left). */
 export function liveRiskReward(setup: TradeSetup, currentPrice: number): number {
   const reward = setup.direction === 'long' ? setup.target - currentPrice : currentPrice - setup.target;
@@ -48,10 +33,12 @@ export function qualifiesSetup(setup: TradeSetup, config: ActivationConfig): boo
     return false;
   }
   if ((setup.confidence_score ?? 0) < config.min_confidence) return false;
-  // Expected value (R) is the core gate. Only enforced when computable — setups
-  // without target probabilities defer to the R:R + confidence floors above.
-  const ev = expectedValueR(setup);
-  if (ev != null && ev < config.min_expected_value) return false;
+  // Cross-sectional momentum is the core selection — only enforced when a
+  // percentile is attached and a threshold is set; otherwise defer to the floors.
+  if (config.min_momentum_percentile > 0 && setup.momentum_percentile != null
+      && setup.momentum_percentile < config.min_momentum_percentile) {
+    return false;
+  }
   if (config.require_high_conviction && !HIGH_CONVICTION_ACTIONS.has(setup.recommended_action ?? '')) {
     return false;
   }
@@ -64,7 +51,9 @@ export function qualifiesSetup(setup: TradeSetup, config: ActivationConfig): boo
 
 /** Short human summary of the active gate, e.g. for tooltips/labels. */
 export function activationSummary(config: ActivationConfig): string {
-  const parts = [`EV ≥ ${config.min_expected_value.toFixed(2)}R`, `R:R ≥ ${config.min_rr.toFixed(1)}`, `conf ≥ ${config.min_confidence.toFixed(0)}%`];
+  const parts = [];
+  if (config.min_momentum_percentile > 0) parts.push(`top ${(100 - config.min_momentum_percentile).toFixed(0)}% momentum`);
+  parts.push(`R:R ≥ ${config.min_rr.toFixed(1)}`, `conf ≥ ${config.min_confidence.toFixed(0)}%`);
   if (config.require_high_conviction) parts.push('high-conviction');
   if (config.exclude_conflicts) parts.push('clean');
   if (config.min_target_probability > 0) parts.push(`target ≥ ${config.min_target_probability.toFixed(0)}%`);
diff --git a/frontend/src/lib/types.ts b/frontend/src/lib/types.ts
index df055bc..390fbe4 100644
--- a/frontend/src/lib/types.ts
+++ b/frontend/src/lib/types.ts
@@ -134,6 +134,7 @@ export interface TradeSetup {
   outcome_date: string | null;
   evaluated_at: string | null;
   current_price: number | null;
+  momentum_percentile?: number | null;
   recommendation_summary?: RecommendationSummary;
 }
 
@@ -158,7 +159,7 @@ export interface PerformanceStats {
 
 // Activation gate: what counts as an actionable signal
 export interface ActivationConfig {
-  min_expected_value: number;
+  min_momentum_percentile: number;
   min_rr: number;
   min_confidence: number;
   min_target_probability: number;
@@ -221,7 +222,7 @@ export interface BacktestCalibrationRow {
 }
 
 export interface BacktestSweepRow extends BacktestBucket {
-  min_expected_value: number;
+  min_momentum_percentile: number;
 }
 
 export interface BacktestSignalEvalRow {
@@ -244,7 +245,7 @@ export interface BacktestReport {
   overall_qualified: BacktestBucket;
   overall_all: BacktestBucket;
   by_direction: Record<string, BacktestBucket>;
-  min_expected_value: number;
+  min_momentum_percentile: number;
   sweep: BacktestSweepRow[];
   calibration: BacktestCalibrationRow[];
   signal_eval?: BacktestSignalEvalRow[];
diff --git a/frontend/src/pages/DashboardPage.tsx b/frontend/src/pages/DashboardPage.tsx
index 6ea79f3..fd0f42d 100644
--- a/frontend/src/pages/DashboardPage.tsx
+++ b/frontend/src/pages/DashboardPage.tsx
@@ -12,7 +12,7 @@ import { OpenTradesPanel } from '../components/dashboard/OpenTradesPanel';
 import { SkeletonCard, SkeletonTable } from '../components/ui/Skeleton';
 import { formatPrice } from '../lib/format';
 import { recommendationActionLabel } from '../lib/recommendation';
-import { qualifiesSetup, activationSummary, primaryTargetProbability, expectedValueR } from '../lib/qualification';
+import { qualifiesSetup, activationSummary, primaryTargetProbability } from '../lib/qualification';
 import type { TradeSetup } from '../lib/types';
 
 function fmtR(value: number | null): string {
@@ -69,12 +69,12 @@ export default function DashboardPage() {
   );
 
   // Show qualified setups first; fall back to the full list when none qualify.
-  // Rank by expected value (R) so the best opportunity sits at the top.
+  // Rank by 12-1 momentum percentile so the strongest names sit at the top.
   const showingQualified = qualifiedSetups.length > 0;
   const topSetups: TradeSetup[] = useMemo(() => {
     const pool = showingQualified ? qualifiedSetups : trades.data ?? [];
     return [...pool]
-      .sort((a, b) => (expectedValueR(b) ?? -Infinity) - (expectedValueR(a) ?? -Infinity))
+      .sort((a, b) => (b.momentum_percentile ?? -Infinity) - (a.momentum_percentile ?? -Infinity))
       .slice(0, 5);
   }, [showingQualified, qualifiedSetups, trades.data]);
 
@@ -176,13 +176,12 @@ export default function DashboardPage() {
                       <th className="px-4 py-3 text-right">Entry</th>
                       <th className="px-4 py-3 text-right">R:R</th>
                       <th className="px-4 py-3 text-right">Target&nbsp;Prob</th>
-                      <th className="px-4 py-3 text-right">Exp.&nbsp;Value</th>
+                      <th className="px-4 py-3 text-right">Momentum</th>
                       <th className="hidden px-4 py-3 md:table-cell">Action</th>
                     </tr>
                   </thead>
                   <tbody>
                     {topSetups.map((setup, i) => {
-                      const ev = expectedValueR(setup);
                       const isTopPick = i === 0;
                       return (
                         <tr
@@ -212,8 +211,8 @@ export default function DashboardPage() {
                               return p != null ? `${Math.round(p)}%` : '—';
                             })()}
                           </td>
-                          <td className={`num px-4 py-3 text-right font-semibold ${rColor(ev)}`}>
-                            {fmtR(ev)}
+                          <td className="num px-4 py-3 text-right font-semibold text-gray-200">
+                            {setup.momentum_percentile != null ? `${Math.round(setup.momentum_percentile)}%ile` : '—'}
                           </td>
                           <td className="hidden px-4 py-3 text-xs text-gray-400 md:table-cell">
                             {recommendationActionLabel(setup.recommended_action)}
@@ -225,7 +224,7 @@ export default function DashboardPage() {
                 </table>
                 <div className="flex items-center justify-between border-t border-white/[0.04] px-4 py-2.5">
                   <span className="text-[11px] text-gray-500">
-                    Exp. Value = probability-weighted payoff per unit of risk
+                    Momentum = ticker's 12-1 month rank across the universe (higher = stronger)
                   </span>
                   <Link to="/signals" className="text-xs font-medium text-blue-300 hover:text-blue-200 transition-colors">
                     All setups →
diff --git a/tests/unit/test_activation_settings.py b/tests/unit/test_activation_settings.py
index 1b15108..e23a39c 100644
--- a/tests/unit/test_activation_settings.py
+++ b/tests/unit/test_activation_settings.py
@@ -25,7 +25,7 @@ class TestActivationConfig:
     async def test_defaults_when_unset(self, session: AsyncSession):
         config = await get_activation_config(session)
         assert config == {
-            "min_expected_value": 0.15,
+            "min_momentum_percentile": 80.0,
             "min_rr": 1.2,
             "min_confidence": 55.0,
             "min_target_probability": 0.0,
@@ -35,13 +35,13 @@ class TestActivationConfig:
 
     async def test_update_and_read_back(self, session: AsyncSession):
         updated = await update_activation_config(
-            session, {"min_expected_value": 0.25, "min_confidence": 60.0}
+            session, {"min_momentum_percentile": 70.0, "min_confidence": 60.0}
         )
-        assert updated["min_expected_value"] == 0.25
+        assert updated["min_momentum_percentile"] == 70.0
         assert updated["min_confidence"] == 60.0
 
         config = await get_activation_config(session)
-        assert config["min_expected_value"] == 0.25
+        assert config["min_momentum_percentile"] == 70.0
         assert config["min_confidence"] == 60.0
 
     async def test_partial_update_keeps_other_value(self, session: AsyncSession):
@@ -50,9 +50,9 @@ class TestActivationConfig:
         assert config["min_rr"] == 1.2  # default untouched
         assert config["min_confidence"] == 80.0
 
-    async def test_rejects_out_of_range_expected_value(self, session: AsyncSession):
+    async def test_rejects_out_of_range_momentum_percentile(self, session: AsyncSession):
         with pytest.raises(ValidationError):
-            await update_activation_config(session, {"min_expected_value": 50.0})
+            await update_activation_config(session, {"min_momentum_percentile": 150.0})
 
     async def test_conviction_flags_round_trip(self, session: AsyncSession):
         await update_activation_config(
diff --git a/tests/unit/test_backtest_service.py b/tests/unit/test_backtest_service.py
index cdf2dee..b630c48 100644
--- a/tests/unit/test_backtest_service.py
+++ b/tests/unit/test_backtest_service.py
@@ -113,8 +113,8 @@ async def test_run_backtest_smoke(session):
     # the oscillating series should yield at least some resolved setups
     assert report["candidates"] >= 1
 
-    # sweep: lowering the EV threshold can only add qualifiers, never remove them
-    sweep = sorted(report["sweep"], key=lambda r: r["min_expected_value"], reverse=True)
+    # sweep: lowering the momentum-percentile cutoff can only add qualifiers
+    sweep = sorted(report["sweep"], key=lambda r: r["min_momentum_percentile"], reverse=True)
     counts = [r["total"] for r in sweep]
     assert counts == sorted(counts)  # ascending as threshold descends
     # every calibration row is internally consistent
diff --git a/tests/unit/test_qualification.py b/tests/unit/test_qualification.py
index 2ce3754..ca986fc 100644
--- a/tests/unit/test_qualification.py
+++ b/tests/unit/test_qualification.py
@@ -1,20 +1,15 @@
-"""Unit tests for the activation qualification predicate (EV-based gate)."""
+"""Unit tests for the activation qualification predicate (momentum-based gate)."""
 
 from __future__ import annotations
 
 from types import SimpleNamespace
 
-from app.services.qualification import (
-    best_target_probability,
-    expected_value_r,
-    primary_target_probability,
-    setup_qualifies,
-)
+from app.services.qualification import best_target_probability, setup_qualifies
 
-# Default gate: expected value is the core test; conviction/conflict/target-prob
-# are optional tighteners, off here.
+# Default gate: floors only; the momentum selection is off (0). Conviction /
+# conflict / target-probability are optional tighteners, off here.
 DEFAULT_GATE = {
-    "min_expected_value": 0.15,
+    "min_momentum_percentile": 0.0,
     "min_rr": 1.2,
     "min_confidence": 55.0,
     "min_target_probability": 0.0,
@@ -22,9 +17,12 @@ DEFAULT_GATE = {
     "exclude_conflicts": False,
 }
 
-# Strict gate: every optional tightener turned on (the old shipped defaults).
+# Gate with the cross-sectional momentum selection on (top quintile).
+MOMENTUM_GATE = {**DEFAULT_GATE, "min_momentum_percentile": 80.0}
+
+# Strict gate: every optional tightener turned on.
 STRICT_GATE = {
-    "min_expected_value": 0.0,
+    "min_momentum_percentile": 0.0,
     "min_rr": 2.0,
     "min_confidence": 70.0,
     "min_target_probability": 60.0,
@@ -45,59 +43,17 @@ def _setup(**kwargs):
     return SimpleNamespace(**base)
 
 
-class TestExpectedValue:
-    def test_uses_primary_target_not_best(self):
-        s = _setup(
-            rr_ratio=1.5,
-            targets=[
-                {"probability": 80.0},
-                {"probability": 30.0, "is_primary": True},
-            ],
-        )
-        # EV from the primary (30%): 0.3*1.5 - 0.7 = -0.25
-        assert expected_value_r(s) == -0.25
-        assert primary_target_probability(s) == 30.0
-
-    def test_falls_back_to_best_when_no_primary_flag(self):
-        s = _setup(rr_ratio=2.0, targets=[{"probability": 40.0}, {"probability": 60.0}])
-        assert primary_target_probability(s) == 60.0
-        # 0.6*2.0 - 0.4 = 0.8
-        assert abs(expected_value_r(s) - 0.8) < 1e-9
-
-    def test_none_when_no_targets(self):
-        assert expected_value_r(_setup(targets=[])) is None
-        assert primary_target_probability(_setup(targets=[])) is None
-
-
-class TestSetupQualifies:
-    def test_positive_ev_setup_passes(self):
-        # primary 50% @ rr 3.0 → EV = 1.0
+class TestFloors:
+    def test_passes_floors(self):
         assert setup_qualifies(_setup(), DEFAULT_GATE) is True
 
-    def test_negative_ev_fails(self):
-        # primary 30% @ rr 1.3 → EV = -0.31, below the 0.15 floor
-        s = _setup(rr_ratio=1.3, targets=[{"probability": 30.0, "is_primary": True}])
-        assert setup_qualifies(s, DEFAULT_GATE) is False
-
-    def test_thin_positive_ev_below_floor_fails(self):
-        # Positive but thin: 0.45*1.3 - 0.55 = 0.035, under the 0.15 floor.
-        s = _setup(rr_ratio=1.3, targets=[{"probability": 45.0, "is_primary": True}])
-        assert setup_qualifies(s, DEFAULT_GATE) is False
-
     def test_low_rr_floor_fails(self):
         assert setup_qualifies(_setup(rr_ratio=1.0), DEFAULT_GATE) is False
 
     def test_low_confidence_fails(self):
         assert setup_qualifies(_setup(confidence_score=40.0), DEFAULT_GATE) is False
 
-    def test_no_targets_defers_to_rr_and_confidence(self):
-        # No probability → EV uncomputable → not blocked on EV; passes on floors.
-        assert setup_qualifies(_setup(targets=[]), DEFAULT_GATE) is True
-        # ...but still subject to the rr/confidence floors.
-        assert setup_qualifies(_setup(targets=[], rr_ratio=1.0), DEFAULT_GATE) is False
-
     def test_conviction_and_conflict_ignored_by_default(self):
-        # Moderate action + medium risk still pass when tighteners are off.
         s = _setup(recommended_action="LONG_MODERATE", risk_level="Medium")
         assert setup_qualifies(s, DEFAULT_GATE) is True
 
@@ -113,11 +69,26 @@ class TestSetupQualifies:
         s = _setup(direction="long", target=120.0, stop_loss=95.0, current_price=94.0)
         assert setup_qualifies(s, DEFAULT_GATE) is False
 
-    def test_missing_min_ev_key_skips_ev(self):
-        # Legacy callers without min_expected_value: EV defaults to -inf (no floor).
-        legacy = {k: v for k, v in DEFAULT_GATE.items() if k != "min_expected_value"}
-        s = _setup(rr_ratio=1.3, targets=[{"probability": 30.0, "is_primary": True}])
-        assert setup_qualifies(s, legacy) is True
+
+class TestMomentumGate:
+    def test_top_momentum_passes(self):
+        assert setup_qualifies(_setup(momentum_percentile=92.0), MOMENTUM_GATE) is True
+
+    def test_below_threshold_fails(self):
+        assert setup_qualifies(_setup(momentum_percentile=50.0), MOMENTUM_GATE) is False
+
+    def test_missing_percentile_defers_to_floors(self):
+        # No percentile attached (e.g. production not yet wired) → the momentum
+        # gate is skipped and the setup still clears on the floors.
+        assert setup_qualifies(_setup(), MOMENTUM_GATE) is True
+
+    def test_threshold_zero_disables_gate(self):
+        # min_momentum_percentile 0 → a low-momentum name still passes.
+        assert setup_qualifies(_setup(momentum_percentile=10.0), DEFAULT_GATE) is True
+
+    def test_missing_key_defaults_off(self):
+        legacy = {k: v for k, v in DEFAULT_GATE.items() if k != "min_momentum_percentile"}
+        assert setup_qualifies(_setup(momentum_percentile=10.0), legacy) is True
 
 
 class TestStrictTighteners: