Three up days in a row with a gap down (and vice versa)

akahle2

New member
Hi everyone!
I have a pretty simple request. I'm looking for 3 or more straight bar increases with the current day being a gap down. (So I guess technically this would be bar 1 same day gapping down, with bar 2,3,4 (or more) was increasing on the daily chart.

The idea is that the long's panic sell and youll often see a long range red bar. (usually after earnings).
Example happened on energizer. (ENR.) from 11/2 to 11/12.

-Thanks! Andrew

Another probably better option, would be to scan if YESTERDAY's RSI was over 70, and today gapped down xxx %.

Keep narrowing down my Q... lol....How would I change this script that comes with TOS into scanning yesterday's RSI? (not current RSI)

Code:
input length = 14;
input value = 70;
input price = close;
input choice = { default "Greater Than", "Less Than","Equal to"};
input averageType = AverageType.WILDERS;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);

plot scan;
switch (choice){
case "Greater Than":
scan = RSI > Value;
case "Less Than":
scan = RSI < Value;
case "Equal to":
scan = RSI == Value;
}
 
Last edited by a moderator:
Solution
Where ever the study scans for the variable RSI change it to RSI[1] for the definition of RSI one bar ago. On a daily chart that would be yesterday.

Scans have the same definition:

aaa2.png
Where ever the study scans for the variable RSI change it to RSI[1] for the definition of RSI one bar ago. On a daily chart that would be yesterday.

Scans have the same definition:

aaa2.png
 
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