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I need help with creating a condition concerning opening gaps Topic Rating:
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zephie
Posted : Sunday, July 1, 2012 5:02:19 PM
Registered User
Joined: 10/7/2004
Posts: 4

I use Platinum version 12 and am looking for a condition I would use as one element of a scan to be used on US stocks. With this condition I want to eliminate stocks with larger opening gaps, both up and down. I also want to end with a list of manageable size and so want to be able to adjust the condition on the fly each day until I get  a comfortable list size. My intent is to save the small opening gaps and to eliminate all large opening gaps among the socks that survive the other elements of the scan. I would prefer a formula that deals with a percentage of previous day's price or ATR etc. but will work with whatever you can suggest, even one set up in dollars and cents if there is no other way. Thank you in advance.  zephie

Bruce_L
Posted : Monday, July 2, 2012 8:52:44 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

A Condition Formula to check for the absolute percent change between the previous close and the current open to be less than 0.5% could be written as:

100 * ABS(O / C1 - 1) < .5

You can adjust the percentage by adjusting the .5 at the end of the Condition Formula.

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-Bruce
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