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Buyable Gap Ups (BGU) Screener

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Buyable Gap Ups (BGU) Screener
https://www.tradingview.com/x/TEnl5mnV/
This custom indicator detects Buyable Gap Ups (BGU), designed to identify stocks with significant price movements driven by gap-ups, often signaling strong bullish momentum. It helps traders spot potential opportunities where a stock has gapped up above the previous day's high with increased volume, suggesting the possibility of continued price strength.

Key Features:

Gap Percentage Threshold: Set a minimum gap percentage required for a valid buyable gap-up.

Volume Change Threshold: Identifies gap-ups accompanied by a significant increase in volume compared to the 50-day average.

ATR-Based Gap Detection (Optional): Use Average True Range (ATR) to determine whether the gap is large enough, factoring in recent volatility.

Customizable Lookback Period: Adjust the number of recent bars to track the frequency of BGU occurrences.

Volume Confirmation: Only signals buyable gaps when volume surpasses a defined threshold above the 50-day average.

Input Parameters:

Gap Percentage Threshold: Adjusts the minimum percentage gap for a valid signal.

Volume Change Threshold: Determines the minimum percentage increase in volume compared to the 50-day moving average.

Use ATR Gap: Option to use ATR to determine the minimum gap size instead of the percentage gap.

ATR Multiplier for Gap: Customizes the gap size based on the ATR.

ATR Length: Adjusts the lookback period for calculating ATR.

Lookback Period for BGU: Set the number of bars over which to calculate the BGU count.

Alerts & Signals:
The script will plot signals below bars where a valid BGU condition is met.
Alerts can be set for when a BGU is detected, giving real-time notifications for potential trading opportunities.

This indicator is designed to help traders find stocks showing strong bullish momentum, especially after earnings or other market-moving events, with the potential for continued uptrend. It is ideal for those looking to incorporate gap-based strategies in their trading.

Informacje o Wersji
Added %52 Week Low column to sort, this may help to sort strongest stock while looking in the lookback scan.
Informacje o Wersji
Update to make it further useful adding two version of Fishhooks ( Inside day) and BGU undercut FishHook. Columns to make it quick to sort.
Informacje o Wersji
updated column
Informacje o Wersji
Update columns and missed look back BGU

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