Re: Shark32: Quotes Plus 2 scan

[David Duggan <mmaker@xxxxxxxxxxx>]

Thanks for your efforts!  I haven't checked my mail this week yet for the tasc
magazine. Usually there is just unpaid bills in there.

Brookemail@xxxxxxx wrote:

> Here's my effort to translate Walter Downs' Shark-32 system into a QP2 scan.
> The system is set forth in the October issue of TASC, and Metastock and
> Technifilter formulas are available at:
>
>      http://www.traders.com/Documentation/FEEDbk_docs/TradersTips...
>
> You can also get the formulas at the Metastock formula page.
>
> The picks in my QP scan seem accurate, but one problem  is that the
>      output gives the date of the last Shark signal, not the date of the
>      buy signal. I'd like to change this, but right now, I'm stumped. The
>      scan looks only for those stocks that have given a buy signal over
>      the past 25 days.
>
>      The idea behind the system is: Look for a three-bar shark pattern,
>      based on progressively smaller ranges. It looks like a shark fin. Once
>      that pattern appears, a level is set by the highest point in the fin,
>      which is the high(-2). In the scan, I call that level "Sharkhigh." To
>      get a buy signal, the price has to close above that level within 25
>      days. If you want to plot "sharkhigh" over a chart with the price, you
>      can do it with the "BuyOK" part of the Metastock formula by plotting
>      this:
>
>      Symmetry:=.28;
>      Apex:=(H+L)/2;
>      WB:=Ref(H,-2)-Ref(L,-2);
>
>      Shark:=If((H<Ref(H,-1) AND L>Ref(L,-1) AND Ref(H,-1)<Ref(H,-2) AND
>      Ref(L,-1)>Ref(L,-2)),
>      If(apex <= (Ref(H,-2)-(WB*Symmetry)) AND Apex >=
>      (Ref(L,-2)+(WB*Symmetry)) ,1,0),0);
>
>      Buyok:=ValueWhen(1,Shark=1,Ref(H,-2));
>
>      Buyok;
>
>      That's like a resistance level that the price has to break through. It
>      lasts for 25 days or until a new Shark signal appears.
>
>      The QP scan looks for stocks that break above the high point in the
>      shark pattern.
>
>      As I said, the one improvement I'd like to make is to have the scan
>      give the date when the price closes above the high point in the shark
>      pattern.
>
>      Here's the scan:
>
>      //Shark-32, by Walter T. Downs, translated for QP2 by Brooke
>
>      //Shark:=If((H<Ref(H,-1) AND L>Ref(L,-1) AND
>      // Ref(H,-1)<Ref(H,-2) AND Ref(L,-1)>Ref(L,-2))=1,
>      //If(apex <= (Ref(H,-2)-(WB*Symmetry)) AND
>      // Apex >= (Ref(L,-2)+(WB*Symmetry)) ,1,0),0);
>
>      output = "shark.lst";
>      input="commplus.lst";
>      //ProcessMS = "d:\meta\macdup\",VMS;
>
>      integer symmetry, i;
>      float shark, apex, WB, fin, sharkhigh;
>
>      for i = -24 to 0 step 1 do
>
>      symmetry:=.28;
>      apex:=(high(i)+low(i))/2;
>      WB:=high(i-2)-low(i-2);
>
>      if apex<=(high(i-2)-(WB*Symmetry)) and apex>=(low(i-2)+(WB*Symmetry))
> then
>      fin:=1;
>      else fin:=0;
>      endif;
>
>      sharkhigh:=0;
>      if high(i)<high(i-1) and
>      low(i)>low(i-1) and
>      high(i-1)<high(i-2) and
>      low(i-1)>low(i-2) then
>      shark:=fin;
>      else shark:=0;
>      endif;
>
>      if shark=1 then
>      sharkhigh:=high(-2+i);
>      endif;
>
>      if close(0)>sharkhigh and
>      sharkhigh>0 and
>      shark =1 then
>      println symbol,",", "Close: ", close(0):6:2,", ", "Change: ",
> Close(0)-Close(-1):5:2,
>      ", ", "Date: ", date(i),", ",
>      "Sharkhigh: ", sharkhigh; //date is date when shark equals 1, not date of
> signal
>      endif;
>
>      next i;
>
> Brooke