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.
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
Figure 3.4 _ Gap Down
article is a snippet from the
MetaStock Programming Study Guide...
The Simple Secret to Make Metastock Easy & Identify Profitable
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