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Henk,
Its been a long time since I have visited the Shark32 System. At the
end of this message I have included my file on the system. I have
also uploaded a pic to the photos section which I think you will find
interesting. The pic is of Coca Cola. On 9-12-'95 using the Guppy
MA's you notice an opportunity to purchase call options. At line 1,
you will notice that your options will begin to loose money as there
is no longer a continual rise in prices but a continuation of time
depreciation. This continues until line 2 when the prices begin to
accelerate again. At line 3, you will notice that a "Shark Fin" has
formed. This is highlighted on the chart. The Guppy Dif indicator
used is nothing more that the average of the 6 short ma's minus the
average of the 6 longer ma's. If I were looking to buy call options
the best times were from 9-12 until line 1 and from line 2 until line
3.
Hope this helps,
P
SHARK32
Shark-32 system - Walter Downs
The Shark exit signals don't appear to be all that good. In some
cases, the sell signals provide good opportunities for short-selling,
but the signals appear to be too few and far between to rely on them
for sell signals for long trades. The Shark pattern occurs too
infrequently, and there's no guarantee it'll occur when the trend
reverses. With long trades, you'd have to look to other indicators,
such as CCI, as you say, or maybe Parabolic SAR. You could use price
breaking below certain moving averages, too -- or moving- average
crossovers.
Seems like entry but no exits in Shark. maybe standard CCI(13) with
200 and -150 triggers.
The shark pattern signals, in the third window in the chart I sent,
were really just alerts showing that the shark pattern had occurred on
those days. The shark system is based on the close rising above levels
set when the shark pattern occurs. The levels are set by the high and
low in the shark pattern, and the close must break through them within
25 days of the signal.
The shark pattern, in other words, isn't a buy or sell signal.
The buy signals were shown in the second window of the chart I sent.
The window is labeled "Shark buy signal." Also, the signals are marked
by green arrows over the price plot in the first window of the chart.
I didn't include sell signals in the chart I sent earlier today. In
the case of MU, the sell signals weren't very good, to be honest.
==========================
The Shark system is really based on two separate events: the
occurrence of the pattern and then the signal.
The pattern isn't the signal. The system gives a signal if and when
the stock breaks above the high point in the pattern over the next 25
days. The high on the first day of the pattern sets that high point.
It's like a resistance level, set by the highest point in the shark
fin. Sometimes the stock doesn't break above it, so there's no signal.
The Shark pattern shows consolidation, which may indicate an expansion
in price to come. But the breakout doesn't always occur. If the stock
breaks below the low point in the pattern, there's a sell signal.
==========================
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 in the Expert Adviser:
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))=1,
{ try Ref(L,-1)>Ref(L,-2)), without the "=1"}
If(apex <= (Ref(H,-2)-(WB*Symmetry)) AND Apex >=
(Ref(L,-2)+(WB*Symmetry)) ,1,0),0);
Buyok:=Cross(C,ValueWhen(1,Shark=1,Ref(H,-2)));
{try Buyok:=ValueWhen(1,Shark=1,Ref(H,-2));}
Chk:=Cum(Buyok)-ValueWhen(1,Shark=1,Cum(Buyok));
ValidChk:=Alert(Shark=1,25);
Buy:= Buyok=1 AND Ref(Chk,-1)=0 AND ValidChk=1;
Buy OR Ref(Buy,-1) OR Ref(Buy,-2) OR Ref(Buy,-3) OR Ref(Buy,-4) OR
Ref(Buy,-5);
From: Brooke
=================================
For the pattern in the Indicator Builder:
Symmetry:=.28;
Apex:=(H+L)/2;
WB:=Ref(H,-2)-Ref(L,-2);
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);
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.
=================================
Combining Statistical and Pattern Analysis, Shark - 32 - Walter T.
Down, TASC 10/1998
Equis
First, choose Expert Adviser from the Tools menu in MetaStock 6.5.
Next, choose New and enter the following formulas:
Name:
Click the Name tab and enter "Shark - 32" in the Name field.
Trends:
Click the Trends tab and enter the following formulas in the Bullish
and Bearish fields.
Bullish: Mov(C,5,S)>Mov(C,20,S);
Bearish: Mov(C,5,S)<Mov(C,20,S);
Highlights:
Click the Highlights tab, choose New, and enter "3rd Bar" in the Name
field. Now change the color in the Color field to Blue. Finally, enter
the following formula in the Condition field, and then choose OK.
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))=1,If(Apex <=
(Ref(H,-2)-(WB*Symmetry)) AND Apex >= (Ref(L,-2)+(WB*Symmetry))
,1,0),0);
Shark;
Using the same method as above, enter the following 2 highlight
formulas.
Name: 2nd Bar
Color: Blue
Condition:
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))=1,If(Apex <=
(Ref(H,-2)-(WB*Symmetry)) AND Apex >= (Ref(L,-2)+(WB*Symmetry))
,1,0),0);
Ref(Shark,+1)=1;
Name: 1st Bar
Color: Blue
Condition:
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))=1,If(Apex <=
(Ref(H,-2)-(WB*Symmetry)) AND Apex >= (Ref(L,-2)+(WB*Symmetry))
,1,0),0);
Ref(Shark,+2)=1;
Symbols:
Click the Symbols tab, choose New and enter "Shark Buy" in the Name
field. Now enter the following formula in the Condition field.
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))=1,If(apex <=
(Ref(H,-2)-(WB*Symmetry)) AND Apex >= (Ref(L,-2)+(WB*Symmetry))
,1,0),0);
Buyok:=Cross(C,ValueWhen(1,Shark=1,Ref(H,-2)));
Chk:=Cum(Buyok)-ValueWhen(1,Shark=1,Cum(Buyok));
ValidChk:=Alert(Shark=1,25);
{Note* The above ValidChk variable makes the Shark signal valid for 25
periods. If the price does not cross above the High value of the base
within 25 periods, you will not receive a signal. You can change the
number of periods by changing 25 to the number of periods you
desire.*}
Buy:= Buyok=1 AND Ref(Chk,-1)=0 AND ValidChk=1;
Buy;
Click the Graphic tab. Change the symbol in the Graphic field to Buy
Arrow. Now change the color in the Color field to Green. Finally, type
"Buy" in the Label field, and then choose OK.
Using the Same method as above, enter the following Symbol formula.
Name: Shark Sell
Condition:
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))=1,If(apex <=
(Ref(H,-2)-(WB*Symmetry)) AND Apex >= (Ref(L,-2)+(WB*Symmetry))
,1,0),0);
Sellok:=Cross(ValueWhen(1,Shark=1,Ref(L,-2)),C);
Chk:=Cum(Sellok)-ValueWhen(1,Shark=1,Cum(Sellok));
ValidChk:=Alert(Shark=1,25);
{Note* The above ValidChk variable makes the Shark signal valid for 25
periods. If the price does not cross below the Low value of the base
within 25 periods, you will not receive a signal. You can change the
number of periods by changing 25 to the number of periods you
desire.*}
Sell:= Sellok=1 AND Ref(Chk,-1)=0 AND ValidChk=1;
Sell;
Symbol: Sell Arrow
Color: Red
Label: Sell
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