joepistell
37 posts
msg #117510
- Ignore joepistell |
12/24/2013 2:26:01 PM
Kevin,
Gap Fill Position Trading: Time and time again, I see gap ups created, filled days later, then, the trade resumes. I've always felt the Market Makers were caught short in the rush to fill orders and wanted to "pull the stock back" to square their books.
Several years back, you posted a chart with an open gap that was several days old. You asked if anyone had a filter to identify them. Have you ever been able to conquer this?
Gap Up Trading thesis:
A stock that gaps up, does not fill and if it has unusual volume, then, chances are that this company has information that may not be priced into the stock. This gapup is a signal to do research to see if it's worthy of a long trade.
Fill the gap trading signal needed. In a perfect world, the system would put a price stamp on the day of the gap, so, we could sort by gap price minus price now.
This was as far as I got:
/*GLOBAL*/
show stocks where
avgvol(90) > 100000
and price > 3
/*GAP UP SET UP*/
set{x1, high one day ago}
set{x2, low - x1}
set{x3, close - open}
and x2 has reached a new 250 day high within the last 100 days
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