Thinkscript gap scans with parameters

T

trademics

New member
I am looking to modify the typical gap scans with parameters to filter for higher probability gaps. I will be working on this weekend but wanted to put it out there to see if the community here is interested in adding input-

My question is can we add parameters to screen for scenarios such as- If today's gap open is above yesterday's close, but below yesterday's high. There's a 85% historic winning percentage of prices moving to yesterday's closing price in this scenario (/ES) - I'd like to create a series of scans to add qualifying stocks to a watchlist, OR to scan a selected universe of stocks and flag them in a column what type of gap they qualify for. If interested I can post more scenarios with the probabilities but I got them from here: https://www.rockwelltrading.com/gap-trading/

The combo of these gaps, historical probabilities, and some of the other indicators/methods discussed here can potentially lead to some powerful trades.


 
Last edited:
BenTen

BenTen

Administrative
Staff
VIP
@trademics Interesting concept for a scanner. I love gap trading. Especially when I use the Gap Fill indicator to highlight the gap from the previous day. I'll be following this post to see what you can come up with.

 
Last edited:

Top