MetaStock Gap Down Function

The Gap Down function simply identifies securities that have gapped down in price, i.e. today's high is lower than yesterday's low. Although, this is easily coded in itself, Metastock has pre-defined this function.

SYNTAX GapDown()

APPLICATION

Since the gapdown function has no parameters, it would normally be used with other conditional statements. For example:

GapDown() AND V>Mov(V,20,S)

This formula specifies that the security must have experienced a gap down (i.e., today's high is lower than yesterday's low), and that today's volume must be greater than the 20 day average of the volume.

Looking at Figure 3.4, we can see this example applied to the chart.

 

Figure 3.4 _ Gap Down

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