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GapUp and Bearish Close (Reversal) _Daily for Amibroker (AFL)

3 / 5 (Votes 4)
amibroker, exploration

Stocks which have opened at a higher price than the previous Day’s Close(Gap-Up) but eventually closed in the red well below yesterday’s Close(>3%). This shows decreasing buying interest in these stocks. These tend to UNDERPERFORM the market in the Short-term //TREND CHANGE VERY High

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Indicator / Formula

Copy & Paste Friendly
//Open > PREVCLOSE AND Close < 0.97 * PREVCLOSE	

//SET A = Open
//SET B = Ref(LAST,1)
//A > B AND C < (0.97 * B)

A = Open;
B = Ref(Close,-1);
C = Close;

Condition1 = (A > B) AND (C < (0.97 * B));

Sell = Condition1;

Filter = Sell;



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