StockFetcher Forums · Filter Exchange · BREAKAWAY GAPS<< >>Post Follow-up
riggs
313 posts
msg #38584
Ignore riggs
10/27/2005 2:27:16 AM

For thoses of you L@@king for breakaway gaps, I think I found the way to go....


Fetcher[show stocks where open gained more than 3 percent more than the high 1 day ago and volume gained 50 percent more than 1 day ago and draw bollinger bands(20,2.0)add column industry and average volume(90)is above 100000]




Now the important thing to know that we ALL already know is, there are several kinds of gaps. There is the dreaded "Exhaustion gap", the "Continuation gap", and "common gaps." What you want to look for is a chart that is either in a down trend or in a consolidation pattern. Then you need to look at your DMI and make sure the +DI crosses ABOVE BOTH the -DI and the ADX on the same day. When this happens, you are looking at a "breakaway gap", because what will happen next is the -DI will then cross below the ADX and the ADX will then rise into a NEW uptrend. While this is all happening, you will be hitting new highs for several days until the new trend begins. When this happens, Dr. Alexander Elder once said "It would mark a major change in mass mentality." And he was so right! There isn't a better way to chase a stock IMO. Good luck fellow gap lovers!


THE MIGHTY RIGGS


Railwhore
69 posts
msg #38591
Ignore Railwhore
10/27/2005 9:18:17 PM

There is an error in the above filter and I don't think yours takes into account the 3% over the high but 3% over the OPEN instead. Here's an updated filter that creates an open and high 1 day ago ratio:

Fetcher[set{x, open - high 1 day ago}
set{xy, x / high 1 day ago}
set{ohr, xy * 100}

ohr > 3
and Volume gained more than 50 Percent over the last 1 Days
and Average Volume(90) above 100000
and close above 1
and not otcbb
add column ohr
]




Railwhore
69 posts
msg #38592
Ignore Railwhore
10/27/2005 9:22:37 PM

Gap down

Fetcher[set{x, open - low 1 day ago}
set{xy, x / low 1 day ago}
set{ohr, xy * 100}

ohr < -3
and Volume gained more than 50 Percent over the last 1 Days
and Average Volume(90) above 100000
and close above 1
and not otcbb
add column ohr
]




riggs
313 posts
msg #38598
Ignore riggs
10/28/2005 1:53:05 AM

Railwhore -

Thanks for catching that, but the syntax appears to be fine. I think the key word here is "potnetial" filter error. I'm now showing 35 results and your's is spitting out 22. Although your's seems to have less "Dark clowd coverings." At any rate, thanks for taking the time and giving all of us a different perspective.

RIGGS.


Fetcher[open is more than 3 percent above high 1 day ago and volume gained 50 percent more than 1 day ago and average volume(90)is above 100000 and draw ema(3)draw ema(13)draw ema(39)draw ema(200)draw bollinger bands(20,2.0)and add column industry]




riggs
313 posts
msg #38599
Ignore riggs
10/28/2005 2:00:50 AM

Railwhore -

Sorry about the last post, I didn't see the "otcbb & close above 1" in your filter. That seems to be the difference between mine and your's. Either way, both filters seem to be producing as designed.

RIGGS


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