Gap Up on Volume
Opens 4%+ above prior close and holds it with heavy volume.
Exact criteria (as backtested)
| Universe | S&P 500 + Nasdaq 100 (current members) |
| Price | > $5 |
| 20d avg $ volume | > $5M |
| Gap (open vs prior close) | ≥ +4% |
| Relative volume (vs 20d) | ≥ 2.0 |
| Close vs open | Close > Open |
Backtest · 2021-10-13 → 2026-10-12
How we testEqual-weight trade curve (weekly, 1.0× = start). Each signal held 5 sessions; daily return = mean of open positions. No fees, slippage or taxes. Survivorship-biased universe. Not indicative of future results.
Copyable platform settings
Stock Screener → Gap % ≥ 4, Relative Volume ≥ 2, Change from Open > 0, Price > 5ta_gap=u4,sh_relvol_o2,ta_changeopen=u,sh_price_o5(open/close[1]-1)>=0.04 and volume/Average(volume,20)[1]>=2 and close>openFinviz strings are URL filter codes (append to finviz.com/screener.ashx?v=111&f=). ThinkorSwim strings are thinkScript scan conditions. Platform equivalents may differ slightly from the backtested definition; verify before use.
Most recent signals in backtest
How the Gap Up on Volume screen works
The Gap Up on Volume screen is a gap setup: opens 4%+ above prior close and holds it with heavy volume. A stock qualifies on a given day when every condition is true at the close: gap (open vs prior close) ≥ +4%; relative volume (vs 20d) ≥ 2.0; close vs open Close > Open. To keep results tradable, only S&P 500 and Nasdaq-100 members above $5 with more than $5M of average daily dollar volume are included.
Across 518 tickers from 2021-10-13 to 2026-10-12, the screen fired 1,218 times on 386 different stocks. 50.3% of signals were higher five sessions later, ranking #25 of 25 screens on SetupHits by hit rate. The average 5-day move was +0.50% (median +0.06%), ahead of SPY's +0.39% over the same days, and the equal-weight trade curve's worst drawdown was -34.9%.
Setup is copy-paste: TradingView, Finviz, ThinkorSwim versions are listed above. In TradingView use the string in the Stock Screener filter or a Pine condition; in Finviz append the filter codes to the screener URL; in ThinkorSwim paste the thinkScript into a Stock Hacker custom study filter. Platforms compute indicators slightly differently, so expect small differences in the hit list.
Treat these numbers as context, not a forecast. The backtest uses daily bars, ignores commissions and slippage, overlaps signals on the same stock, and tests today's index members back in time, which adds survivorship bias. A mostly rising 2021–2026 market also lifted most long setups.
Full test rules: methodology. Compare every setup in our ranked list of stock screeners.
FAQ
What is the Gap Up on Volume stock screener?
Opens 4%+ above prior close and holds it with heavy volume. It is a gap screen evaluated on daily closes for S&P 500 and Nasdaq-100 stocks.
What is the Gap Up on Volume backtest hit rate?
50.3% of 1,218 signals between 2021-10-13 and 2026-10-12 closed higher 5 trading days later, with an average 5-day move of +0.50% and a max drawdown of -34.9%.
How do I set up the Gap Up on Volume screen in TradingView, Finviz or ThinkorSwim?
Copy the platform string on this page: TradingView, Finviz, ThinkorSwim settings are provided. Results can differ slightly because each platform calculates indicators its own way.
Is the Gap Up on Volume screen good for day trading?
It is an end-of-day screen measured over a 5-day hold, so it suits swing trading or building a next-day watchlist more than intraday entries. Past, simulated results do not predict future returns.