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....
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
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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:
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Railwhore
69 posts
msg #38592
- Ignore Railwhore |
10/27/2005 9:22:37 PM
Gap down
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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.
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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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