scan for gaps

[traderix]

I would like to scan Nasdaq stocks (or Index futures) that just have gapped after the opening 9.30 EST.
Do you know any program or web site for this scanning?

traderix

 

[snooptrader]

Trader-X talks extensively about this on his blog. Here is the post:

http://traderx.blogspot.com/2006/09/finding-gaps-091206_12.html

Personally I use Trade-Ideas. It works great.

 

[ModulusFE]

You can use scanthemarket.com - a web service that my company built for Genesis Securities.

A scan for 1% gaps could look like this:

SET EXCHANGE = NASDAQ
FIND STOCKS WHERE Low > REF(High, 1) * 1.01 OR High < REF(Low, 1) * 0.99

Today 132 NASDAQ stocks came back with a 1% gap. The results are sorted by volume.

Richard

 

[traderix]

ModulusFE / Richard,
thank you. At what time could I start the scan? Just after the opening (9.30 EST)??

Is it possible to include in the script some information about the volume?

Thx Traderix

 

[ModulusFE]

Yes you could scan just after the opening and you can include volume:

SET EXCHANGE = NASDAQ
FIND STOCKS WHERE Low > REF(High, 1) * 1.01 OR High < REF(Low, 1) * 0.99 AND VOLUME > AVG(VOLUME, 30)

or you can do:

AND VOLUME > REF(VOLUME, 1) or even VOLUME > EMA(VOLUME, 30), etc..

 

[cashmoney69]

you can do this on yahoo's market tracker program... it cost like 13.00 a month or something, so its not free, but not real expensive if you want a cheap scanning prog.

cm69

 

[ModulusFE]

Well, maybe. But try this on Yahoo! with 11,000 stocks at once
# Buy if a previous value was below the low Bollinger band and is now above
SET Bottom = BBB(CLOSE, 20, 2, EXPONENTIAL)
SET Top = BBT(CLOSE, 20, 2, EXPONENTIAL)
FIND STOCKS WHERE (((REF(CLOSE, 1) < REF(Bottom, 1)) AND
RSI(CLOSE, 14) > 70 AND VOLUME > REF(VOLUME,1) * 2 AND VOLUME > 100000
AND CROSSOVER(CLOSE, PSAR(0.2, 0.02)) AND CLOSE > Bottom) OR
# Also buy if the close is above the top band plus 2%
RSI(CLOSE, 14) > 70 AND VOLUME > REF(VOLUME,1) * 2 AND VOLUME > 100000
AND CLOSE > Top * 1.02 and MO(CLOSE,7)>75 AND CMO(CLOSE,7) < 60)

 

[Moneyball]

Does it work in the pre/post market, so you could screen for stocks that may gap up or down based on the previous close?

 

[ModulusFE]

Quote from Moneyball:
Does it work in the pre/post market, so you could screen for stocks that may gap up or down based on the previous close?

Not yet. Genesis Securities plans to change the data feed but they haven't got that far yet. For now you have to use the previous close.. REF(Close, 1)
Genesis will be adding the pre/post market data soon, I'm sure.

Richard

 

[inandlong]

StockWatch Pro... $40/mo for Qcharts and Esignal.... does everything and anything you need. Excellent. I have used it for years. As far as scanning 11000 stocks.... you don't need that, you don't want that. The first thing to do is cull those stocks that have the liquidity for you to do what you want to do. There are a lot of very low volume stocks that gap every day, but you might only be able to throw a one lot at them. From that group you work your strategy.

One of the best nuggets I have seen Don Bright share is the idea to become a specialist in a group of stocks. The group is as large as you can handle. While I don't think it's absolutely necessary - there are benefits to doing so.

Good luck and PM me if you'd like more on the SWP.