Buyable Gap Ups (BGU) Screener

9 feb

Buyable Gap Ups (BGU) Screener
https://www.tradingview.com/x/TEnl5mnV/
This custom indicator detects Buyable Gap Ups (BGU), designed to identify stocks with significant price movements driven by gap-ups, often signaling strong bullish momentum. It helps traders spot potential opportunities where a stock has gapped up above the previous day's high with increased volume, suggesting the possibility of continued price strength.

Key Features:

Gap Percentage Threshold: Set a minimum gap percentage required for a valid buyable gap-up.

Volume Change Threshold: Identifies gap-ups accompanied by a significant increase in volume compared to the 50-day average.

ATR-Based Gap Detection (Optional): Use Average True Range (ATR) to determine whether the gap is large enough, factoring in recent volatility.

Customizable Lookback Period: Adjust the number of recent bars to track the frequency of BGU occurrences.

Volume Confirmation: Only signals buyable gaps when volume surpasses a defined threshold above the 50-day average.

Input Parameters:

Gap Percentage Threshold: Adjusts the minimum percentage gap for a valid signal.

Volume Change Threshold: Determines the minimum percentage increase in volume compared to the 50-day moving average.

Use ATR Gap: Option to use ATR to determine the minimum gap size instead of the percentage gap.

ATR Multiplier for Gap: Customizes the gap size based on the ATR.

ATR Length: Adjusts the lookback period for calculating ATR.

Lookback Period for BGU: Set the number of bars over which to calculate the BGU count.

Alerts & Signals:

The script will plot signals below bars where a valid BGU condition is met.

Alerts can be set for when a BGU is detected, giving real-time notifications for potential trading opportunities.

This indicator is designed to help traders find stocks showing strong bullish momentum, especially after earnings or other market-moving events, with the potential for continued uptrend. It is ideal for those looking to incorporate gap-based strategies in their trading.

10 feb

Note di rilascio

Added %52 Week Low column to sort, this may help to sort strongest stock while looking in the lookback scan.

17 feb

Note di rilascio

Update to make it further useful adding two version of Fishhooks ( Inside day) and BGU undercut FishHook. Columns to make it quick to sort.

17 feb

Note di rilascio

updated column

17 feb

Note di rilascio

Update columns and missed look back BGU