Hi,

Can you help me with a PCF where there has being a gap up of 2% or more in the past 10 days?

Also, is a pcf possible where this gap has being nearly filled = price retraces to a low that is just above the high of the candle where the gap orignated? If this makes sense. 

Thanks for your time.

James

How specifically do you want to define the "gap up"? Open above the previous close? Open above the previous high? Low above the previous high? Something else entirely?

The fact that you were asking about "gaps filled" maked me initially think it was the open above the previous close, but "price retraces to a low that is just above the high" made me rethink this.

But if the gap up is based on the low being above the previous high, then there would be no way to check for the retracement on the bar after the gap (although it could be checked in later bars).

Hi Bruce,

By Gap-up, I mean above the previous close ( call it candle 1). Gap-up of 2% or more in any of the past 10 days.

By Gap filled, I mean a close above candle 1. Price retraces to just above candle 1.

Does this make sense?

James

The following checks for the open to have been at least 2% higher than the previous close on one of the previous ten bars.

It then checks for the low of the current bar to be less than 0.02 above high of that bar (so above but within a penny) with no intervening bars having a low which reaches the high of that bar either.

It is pretty restrictive and can be loosened up somewhat.

PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!

Hi Bruce,

Is there a pcf formula for the following and if so please let me know? An example:

- Stock x has had a gap up today and the price moved from 10$ to 13$.

I want to know on this symbol how often has a gap up happend in a years time frame?

Secondly with a gap up the price tends to continue going up for sometime as there is normally momentum on that stock.

Is there anyway to estimate how long the the price will continue going up based on its previous gap up that the symbol has had?

Is there any specigic indicator that I can use?

Thanks in anticipation.

 Srini

You can plot the number of time price has gapped up during the 252 most recent bars using something similar to the following Custom PCF Indicator (which use the low being above the previous high as the definition of a gap up).

- Period: 252
- Average Type: Simple
- Formula: 252 * ABS(L > H1)

That said, I cannot think of a practical automated method of determining either the average number of up bars in a row or the average percent gain following a gap up in TC2000. 

Thank you Bruce

You're welcome.