TIMESINCESIGNAL and gaps

Optuma Scripting
1

Hi,

In a watchlist, I want to write a script asking if there has been a gap >15% in the last 90 days. Not sure what I am doing wrong. Please see the script below and the image attached.

//Define signal: gap > 15%. 
V1 = GAP(MINSIZE=15.01, MINBAR=1, ALLOWPARTIAL=False) ; 
//Ask if there has been a signal in the last 90 bars. 
TIMESINCESIGNAL(V1) < 90

thank you

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for-optuma.jpg1937×1040 204 KB

2

Hi Louis,

Rather than use the GAP function it may be easier to use the following.

//Calc Gap% between low and previous high;
GapUp=(LOW()-HIGH()[1])/HIGH()[1];
//Set Gap tolerance eg 15%;
Sig1=GapUp > 0.15;
//Did the gap occur within 90 trading days?
//Note that if an event has never happened it gets assigned a value of -1, so we also need a > 0 condition;
TIMESINCESIGNAL(Sig1)>0 and TIMESINCESIGNAL(Sig1)<90

Here’s a list of the 15 members of the S&P1500 that has had a 15% gap up within the last 90 trading days (change the last line to TIMESINCESIGNAL(Sig1, UNIT=Days) for calendar days), including $NVDA (11 days) and $META (89):

Capture

3

Wow is this all helpful! Thank you, Darren. Thank you.