Re: Shark-32 for Quotes Plus : Short selling.

[Brookemail@xxxxxxx]

In a message dated 9/20/98 12:11:33 PM Pacific Daylight Time,
daringdon@xxxxxxxxxxx writes:

> Thank you for this formula.  I put it into QP2 and it seems to work real
well.
>   However I cannot tell the difference between the old and new lines below. 
> Am I missing something?

Yes, that was an error on my part, made in cutting and pasting. I sent a note
correcting it. 

The buy signal for "longs" should have been:

if close(i+j)>sharkhigh and 
     close((i+j)-1)<sharkhigh 

The signal for short selling would be different than the one I sent in the
correction, too, because you'd want the price to break below the lowest point
on the shark fin, which would be low(-2), not the highest point, or high(-2).
So I'd have to add a new variable in the scan, called "sharklow."

Here's a possible short-selling Shark scan, with the new variable that looks
for the low in the shark pattern. I've also attached a Metastock chart showing
the sell point. 

//Shark-32 Short
//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="volvol.lst";
//ProcessMS = "d:\meta\macdup\",VMS;

integer i, j;
float shark, apex, WB, fin, sharkhigh, sharklow, symmetry;

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;
sharklow:=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);
sharklow:=low(-2+i);
endif;

for j = 24 to 0 step -1 do

if i+j <=0 then
if close(i+j)<sharklow and 
close((i+j)-1)>sharklow and
sharklow>0 and 
shark =1 then
println symbol,",", "Close: ", close(0):6:2,", ",
 "Change: ", Close(0)-Close(-1):5:2,
", ", "Date: ", date(i+j),", ", 
"Sharklow: ", sharklow; //date of short signal
endif;
endif;
next j;

next i;

Attachment Converted: "c:\eudora\attach\SHARKS~1.gif"