cyatophilum

TD Sequential Indicator : Setups, Intersections and Countdowns

This is the first script I publish. Be harsh.
About the indicator : I learned about it yesterday, it's a quite safe indicator since the condition countdown = 13 doesn't happen very often.
Numbers above chart are setup numbers
Big numbers below the chart are countdown Numbers.
Green : buy setup
Orange : sell setup
green star : sucessful buy intersection
orange star : sucessful sell intersection
blue big numbers : buy countdown
orange big numbers : sell countdown

Buy Setup :
At least 9 consecutive closes are lower than the corresponding closes 4 bars earlier
Sell Setup :
At least 9 consecutive closes are higher than the corresponding closes 4 bars earlier

Buy Intersection :
8th or 9 bar from setup 's high is greater than the low of 3rd or 4th bar earlier
Sell Intersection :
8th or 9 bar from setup 's low is lower than the high of 3rd or 4th bar earlier

Buy Countdown :
close < low
Sell Countdown :
close > high

I didn't do the highest/lowest countdown break verification because it already doesn't happen very often
Also no TDST line (The high of the true range of bar 1 of set-up is called the TDST line)

Feel free to try it and tell me if you modify it, or what could be improved

I have a strategy version of this tell me if you are interested I will publish it.
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https://blockchainfiesta.com - Automated Strategies with Backtest and Alert Setup

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Kommentarer

Besides plotting the sequential number on each candle, how can I plot the price on a specific candle? E.g Candle "9 + #.##"
+1 Svara
@jpbraga, Using pinescript version 4 function label but you'll be limited to 50 drawings at once.
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hey cyatophilum, thanks for your work. However, you are supposed to reset the countdown until a 1-9 set up on the opposite direction is completed. I see that on Feb 20th, you stop the countdown because a buy set up bar 1 starts that day but you shouldn't stop the countdown unless a 1-9 set up is completed.
+1 Svara
kkapdolee kkapdolee
Here's a presentation on TD indicators http://www.mysmu.edu/faculty/christophert/QF206/Week_05.pdf
+1 Svara
cyatophilum kkapdolee
@kkapdolee, ok I will change that in a version 2. Thank you !
Svara
Hello cyatophilum, firstly I appreciated your efforts and generous shared your script. Tom demark sequential count down is such a difficult indicators, I recently not sure how to use it correctly still... but I do agree Rahmag comments I like your work, so keep it up, wish one day you can create the best tom demark sequential count down script. Good Luck =D
+1 Svara
@ICEKI, Thank you ! I agree, I learned a lot about pine script syntax while creating this one. I know it's not perfect, I will try to improve it, and maybe come up with a sucessful strategy for trading ETH/BTC.
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Hello. Very good indicator. Please, publish version with strategy. I like your work.
+1 Svara
cyatophilum Invisible_Chaos
Thanks @Invisible_Chaos, I'm still working on it, once I find one successful combo I will publish it !
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cyatophilum Invisible_Chaos
@Invisible_Chaos, I published it ! Tell me what you think, thanks !
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