Exhaustion gaps + high volume

Optuma Scripting
1

Are there any codes you can suggest to find multiple exhaustion gaps as a scan? Am looking for parabolic shorting opportunities like SMCI. 2-3 exhaustion gaps + high volume

1 Like
2

Hi Manish,

You can scan for gaps with something like LOW()>HIGH()[1], where today’s low is greater than yesterday’s high:

You can add a volume measure as well, eg greater than 150% of the 20 day average, and the close is above a sloping up 20 period MA:

G1=LOW()>HIGH()[1];
M1=MA(BARS=20, CALC=Close);

G1 and
VOL()>MA(VOL(), BARS=20) * 1.5 and 
CLOSE()>M1 and M1 IsUp

There’s no way of knowing if it’s an exhaustion gap - that is only determined after the fact.