Scanning for Gaps – Looking for the Squeeze

Using the power of the Tradestation Scanner, we wrote a quick scan to search for stocks that have seen significant gaps.

Once we have the results we can find opportunities when the stock price breaks above the Altimeter resistance combined with trend changes from Aileron.

The TriggerCharts Indicators are available on the Tradestation platform.


Click to View and Copy TS EZLanguage Code for Gap Scanner

//TriggerCharts – Gap Scanner (To Be used with Tradestation Scanner)

// Load Additional Bars = 100

Inputs: InputGapPercent (20);

vars: GapBarNumber(1), GapFromPrice(0), Gap (False);

if High[0] < Low[1]* absvalue((InputGapPercent/100)-1) then begin

Gap = True;

Value86 = barnumber;

If Gap = True then begin

GapDownPrice1 = Close;

GapFromPrice = Close[1];

GapBarNumber = Barnumber[0];

Alert ;

end;

end;

Value87 = (barnumber – value86)+2;

Plot1( Gap, “Gap”) ;

Plot2 (value87, “DateofGap”) ;

Plot3 (GapDownPrice1, “GapDownPrice”);

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