First Candle Gap-Down Recovery: Closed Above Previous Close
The first candle opened 1-15% below the previous close, printed a lower wick, and closed back ABOVE the previous day's close - the whole gap recovered inside one candle.
About This Scan
The strictest opening-candle recovery: the stock opens 1-15% below yesterday's close, prints a lower wick, and by the close of the very first candle is above yesterday's close. The entire gap was bought back inside one candle. This is rare, so the scan is often empty - which is itself information.
Scan Rules
Stock passes all of the below filters in the ALL segment using 5M candles:
- 1.First Candle Gap Down % between 1
- 2.First Candle Vs Prev Close % greater than 0
- 3.First Candle Lower Wick % greater than or equal to 0.3
- 4.Traded Value (Rs lakh) greater than or equal to 500
How To Use This Scan
- •Switch the interval to 5m, 15m or 1h to choose how long the 'first candle' is; the list is fixed once that candle has closed.
- •Rare by design - widen to the broader first candle gap down reversal scan when this list is empty.
- •Confirm with volume: recoveries on heavy opening volume are the most meaningful.
Frequently Asked Questions
How rare is a first candle gap recovery?
Very. Most sessions produce zero or a few liquid names, because recovering an entire gap in one candle needs a sharp reversal in order flow.
Does it work on 1d?
On the daily interval the 'first candle' is the day's candle, so it becomes a full daily gap recovery scan.