Indicators: TD Sequential - page 2
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I have no idea (but I am far away from being a crack in this stuff) why the line-style is switching back to the style given by the code.
I become more and more warm with the idea of a bug of MetaTrader. I don't know if they watch the forum or if you should ask them on a more direct way...
By the way - I can't report any "+" signs at a position, where they not should be.
Greetings TuRRiCAN
You are right, the + comes only after 12.
What does it mean when there is a group of consecutives 3 o more crosses?
or when there is cross on top of a new sequence count?
In Perl's book as also in DeMark's book it is stated that that the 13 on the countdown is not perfected until the close of the bar is less then the close of bar 8 in the case of a buy. When the countdown has reached 13 but it is not "perfected" because the low of the 13 is not below the close of bar 8, then a + is created instead of a 13. The + will continue to be created until it is a perfect 13. There isn't any significance to the number of + that are created.
please any one can tel me how i can use this indicator i didn't understand this indicator
thanks
please any one can tel me how i can use this indicator i didn't understand this indicator
thanks
Sorry to respond so late, I have been trying to figure out the best way to respond to this question as I really don't want to quote the extensive chapters in the books that describe this indicator. The TD Sequential Indicator is basically an indicator that looks for trend reversals through market exhaustion. It is an indicator developed by Tom DeMark and described in his book "The New Science of Technical Analysis" and then it is described more fully in Jason Perl's bok "DeMark Indicators." This is an indicator that I have always wanted to use but I don't have the money to afford the charting packages that come with this indicator and I have been disappointed in the indicators that are already out there so I used Perl's book to program my own (mainly the capability to refresh on its own, the perfected 9 and 13, and the support and resistance lines).
DeMarks theroy is that the market works in cycles. He had spent years trying to figure out what the cycle is and came up with the TD Sequential indicator. That is what the picture is describing. There are quite a few pdf out there that do a decent job of summarizing the indicator as well, I am not sure how to insert a pdf here but if someone knows I would be happy to insert the one that I have. Or if you google TD Sequential there is quite a bit of information that pops up.
Nice work LadyPips, thanks for putting this out there...
please,how does it works,thanks.
please,how does it works,thanks.
When the 9 or 13 comes up you should reverse. Not sure how accurate this indicator is according to the original calculations.
Thankyou for making your version of the sequential available, it is one of the better ones around.
As the TDST Support or TD Resistance lines are important, could I point out that there is a very
small mistake in your code? The support or resistance line should be drawn from either the highest
high or lowest low within the 1 to 9 count or from the close of the bar before bar 1 if that close is higher
(or lower) and not from the high or low of bar 1.
I also find it useful to extend all the support or resistance lines until you get a bar that closes either below
the support or above the resistance rather than only extending as far as the newest 'same' tdst . The potential
trading range of the market is then defined between the newest tdst's but expect a reaction at a previous
untouched tdst line, be it a rejection or a breakthrough.
Sorry, I'm not a programmer, otherwise I would make a suggestion on how to do this.
I'm told that a lot of traders use the TD Combo as well as the Sequential. Do you have any plans to add it into your code?
Once again, many thanks.
i have found another bug in the source code,it lies in the CountDown Section.
we should compare the close price of T day with low price of 2 bars earlier ,not close price of 2 bars earlier.