Often times when traders get together they talk about different methodologies or tidbits they have recently discovered. Such is the case with the idea this scan came from. A fellow trader, Ed, mentioned during a discussion about gaps, statistically, gaps over 5% were usually not closed, while gaps under 5% usually were closed. This scan looks for those stocks that gapped up, 5% or more. You can play these off small retracements the next day, and in many cases, they just keep going. The list is usually small, and some nights empty.

output = "EDSGAP.lst";
daystoload=300;
DaysRequired=300;

Printhdrln "Symbol,Close,EPSRank,QRS,30adv,Vol,PE,IRLGroup,SharesFloat,SharesShort,Name,InstHold";
if Open(0) >high(-1)+(.05)*High(-1)  and
Sharesfloat >=10 and
Vol(0)>=50000 and
Close(0)>=10  
then
  println Symbol,",",Close(0):7:2,",",EPSRank(0):3:0,",",QRS(0):3:0,",",avgvol(0,-29):8:0,",",
  vol(0):8:0,",",PE:5:0,",",IRLsymbol:12,",",Sharesfloat:5:2,",",Shortint:5:2,",",
  description:-15,",",InstHold:3:2;
 endif;

Using an input file of the 198 Industry Groups, this scan shows which groups are moving up or down based on whether or not the 17 day simple moving average has crossed up or down through the 50 day simple moving average. If you only subscribe to QP2, your indsutry group data will only be updated weekly, so you can only get current data after downloading the Saturday morning update.

input = "irlgrps.lst";
output = "grpm.lst";
daystoload=150;
DaysRequired=150;
Printhdrln "Group,Group Symbol,Close,Close a Week Ago,QP2 Symbol,Direction";

String U,D;

If MovAvg(0,17,cl) > MovAvg(0,50,cl) and
 MovAvg(-1,17,cl) < MovAvg(-1,50,cl)

	then
u:="Up";
Println description,",",Close(0),",",Close(-4),",",Symbol,",",U;
endif;
If MovAvg(0,17,cl) < MovAvg(0,50,cl) and
 MovAvg(-1,17,cl) > MovAvg(-1,50,cl)
	then
D:="Down";
Println description,",",Close(0),",",Close(-4),",",Symbol,",",D;
endif;