Abiroid TD Sequential Combo Arrow

This is based on Demark's TD Sequential and TD Combo set of indicators. It mostly has the TD Sequential features.

It contains the Arrows Indicator showing Buy/Sell signals and the scanner dashboard. Both are for MT4 (Metatrader 4) Platform.

Feature List:

- Set TD Setup (9), Countdown (13) bars and In Between bars (4)
- Set Countdown Risk Level Bars

Below features are optional:

- Merge TD Setup and Countdown for TD Combo
- Check Setup Intersection
- Price Flip before Starting Setup count
- Setup Perfected Check
- Countdown Qualifier Check
- TDST crossed break
- Stop Countdown on Price Flip

All above checks are in scanner and arrows. Scanner also has high Volume bar displayed.

Explained:

TD Sequential has these phases:

Price Flip (Reverse detection)
It is a signal of a potential reverse.
For Buy: The last candle closes HIGHER than the close four bars earlier. The last but one close is LOWER than the close four bars earlier.
 
Setup Phase (Momentum)
For Buy: 9 consecutive closes are lower than the corresponding closes 4 bars earlier

Setup Perfected:  
Intersection (Make sure price isn't falling too fast)
For Buy: High of 8 or 9 should be more than Low of 3 bars earlier
 
Countdown Phase (Trend Exhaustion)
Count Bars that close lower or equal to the low 2 bars earlier for total 13 bars.
It doesn’t have to be a consecutive sequence of 13 bars.

Countdown Qualifier: And the close should be lower than the low two bars earlier for Buy Countdown.
Indicator will wait for countdown qualifier to be true. For a total of Max Countdown bars.

 

So, best signals are when Setup has a nice strong drop (right before BUY reversal) or strong rise (before SELL).

And then countdown is where price slows down and starts ranging a bit. Forming 1-2 strong volume candles in opposite direction.

Which signals that trend is reversing.

altro...