Hi John,
I have both QP2 and Metastock.
At the moment, I am pretty much sticking to using Metastock on the stocks in my 'permanent' directory. I use QP2 to update the data and to occassionally run scans to see what I might want to add to my permanent directory.
During the day, if I see something happening with a stock, I will use the QP graphing program to quickly pull up the chart and its fundamentals from my hard disk. Only if I like what I see, will I export it to Metastock to analyse.
Each night, I am using a short term stochastic (10,2,3) on my chart and run a ZigZag test on each stock. Although the last leg of the zigzag can come and go, (so does the Stochastic or any other oscillator give false early signals) I find the zigzag indicator incredibly accurate and very helpfull in timing. After using the zigzag test to put arrows on all the charts, I will leaf through them using ALT-RIGHT ARROW looking for today's signals.
If anyone is interested, here it is
ZIGZAG TEST
Enter long
Zig(C, opt1, %) > Ref(Zig(C, opt1, %),-1) AND
Ref(Zig(C, opt1, %),-1) < Ref(Zig(C, opt1, %),-2)
Close long
(Zig(C, opt1, %) < Ref(Zig(C, opt1, %),-1) AND
Ref(Zig(C, opt1, %),-1) > Ref(Zig(C, opt1, %),-2))
OR
(L < 0.99*(ValueWhen(1,Zig(C, opt1, %) > Ref(Zig(C, opt1, %),-1) AND Ref(Zig(C, opt1, %),-1) < Ref(Zig(C, opt1, %),-2) , L)))
Enter Short
Zig(C, opt1, %) < Ref(Zig(C, opt1, %),-1) AND
Ref(Zig(C, opt1, %),-1) > Ref(Zig(C, opt1, %),-2)
Close Short
(Zig(C, opt1, %) > Ref(Zig(C, opt1, %),-1) AND
Ref(Zig(C, opt1, %),-1) < Ref(Zig(C, opt1, %),-2))
OR
(H > 1.01*(ValueWhen(1, Zig(C, opt1, %) < Ref(Zig(C, opt1, %),-1) AND Ref(Zig(C, opt1, %),-1) > Ref(Zig(C, opt1, %),-2), H)))
Opt 1 is 2 to 10, steps 0.1
Notes:
- Testing each stock with the zigzag takes only 10-20 seconds
- The 'ValueWhen' function in the closing formulae above serves as a stop loss to exit when the low is 1% less than the low on the signal entry day (longs) or the high is 1% higher than the high on the signal entry day (shorts).
- I do not set any other stops.
Anyway, I hope this post helps.
:-))
John |
