The potential of deep learning for the investigation of medium scale traveling ionospheric disturbances (MSTIDs) has been exploited through the Sodankylä rapid‐run ionosonde in this statistical study. The complementing observations of the Sodankylä ionosonde with those of the Sodankylä meteor radar reveals the diurnal and seasonal occurrence rate of high‐latitude MSTIDs in the recent low solar activity period, 2018–2020. In our results, the daytime, nighttime and dusk MSTIDs are predominantly identified during winter, summer, and equinoctial months, respectively. The winter daytime higher (lower) occurrence rate is well correlated with the lower (higher) altitude of the height of the F2‐layer peak (hmF2), and the low occurrence rate of the summer daytime is well correlated with the mesosphere‐lower‐thermosphere wind shear and higher gradient of temperature. Relatively high occurrence rate (>0.4) of summer nighttime MSTIDs has a general—but not one‐to‐one agreement—with post‐noon to evening IU (eastward auroral current index) inferred ionospheric conductivity. Rather, we see a one‐to‐one relationship between the summer nighttime MSTIDs and zonal wind shear suggesting that the wind shear‐induced electrodynamic processes could play significant roles for higher occurrence rate of MSTIDs. Furthermore, significant MSTIDs with ∼0.4 occurrence rate are so far revealed during spring and autumn transition periods. The enhanced nighttime MSTID amplitudes during the equinox are observed to be well correlated with IL index (westward auroral current indicator) suggesting that the particle precipitation during substorms could be the primary cause.