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Tom DeMark Pivot Point System
Hi Every One
I have found the attached equations for Tom DeMark Pivot Point System, I correctly have no idea if I understand them correctly or not!!!
So I will tell you what I am thinking, what I understood that it can predict the next day range"Tomorrow Hight and Tomorrow low "!!!! so lets assume that I can calculate tomorrow's high, where I can sell from near this point, or Tomorrow's lowest point and I can buy near this point
What do you think; I need some one to correct my understating if I understand wrong
I guess that we can build a cool system, and I guess that we can easily make test
I need some one who understand DeMark to help
Waiting for feedbacks
guys what i need is an indicator that plot the predicted DeMark Predicted calculations for the following points
High
Resistances 1
Pivot Point
Support 1
Low
Look at this thread https://www.mql5.com/en/forum/172904 (there are few indicators with forecasting).
Especially indicator from ther 1st post of this thread https://www.mql5.com/en/forum/172904
Look at this thread https://www.mql5.com/en/forum/172904 (there are few indicators with forecasting). Especially indicator from ther 1st post of this thread https://www.mql5.com/en/forum/172904
I went to the Thread and i Plotted the indicter and it shows nothing,
Look at this page: this indicator is not working on timeframes more than H4
https://www.mql5.com/en/forum/172904
The other indicators are here https://www.mql5.com/en/forum/172904
Those 2 indicators are based on Neal T. Weintraub 'The Weintraub Daytrader'.
It is small article inside those indicator but it is the better to read original article by Neal T. Weintraub. The author said somewhere that when many people will use this forecasting indicator so this indicator will not predict in right way. But I don't think that many people will use.
Those indicators are part of Paramon trading system (light Paramon system is here ).
How to use those indicators?
In the beginning of trading day (when daily bar is closed right now and new D1 bar is just open) so attach those to indicators to D1 chart. And you will see high/low of the current day and close/open price for the bar for the current day. D1 timeframe.
It is possible to backtest this indicator on the history as you see from the image.
Some people are using this indicator for forecasting of the D1 bar high/low close/open toether with fundamental forex news discussion/analysis.
The other examples how to use it.
But as I said it should be in the beginning of the day.
It is the other example how to use it:
SHi channel you will find in SHI channel thread
- maksigen indicator is in light paramon thread;
- Filter AO is slightly modified AO (with some setting).
All text and lines were drawing by indicators (not manually).
On the image you see the price touched the border of the channel; and you will see possible level for buy/sell stop orders (pending orders) ... Trading is the same as support/resistance lines trading.
Lets Work on it
I believe we can work on it to make it suitable for us.....