Buyable Gap Ups (ATR based)
This screnner is based on the buyable gap up criteria from the book "In The Trading Cockpit with the O'Neil Disciples" by Gil Morales and Chris Kacher. The deviating criterion is the average true range, this is calculated here as 0.6*ATR(14), where 0.75*ATR(40) is recommended, this is due the limitations. How to handle this: 1. it occurs in a fundamentally good and/or leading stock after a consolidation phase 2. volume (EOD) > 1.5*volume(50) 3. gap > 0.6*ATR(14) 4. it should hold the daily low
Stock Screener Settings
Exchange: US Only
This is where the party is
(((open-previousClose)/(previousHigh/100))>(atr*0.6))
A Gap move that is significant, is needed
(volume>(1.5*smaVolume50))
Big Volume confirmes the buyable in the term buyable gap up
Type: Common Stock Only
This is only valid for stocks
Chart Settings
Daily Candles with Volume
Regional Run
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.