On request I programmed the Thomas Demark indicator TD Sequential -Setup. It counts up to 9 consecutive bars to complete the setup and if the setup is completed with a “perfection buy /sell signal” it draws an arrow over/below the signal candle.
The TD Setup requires 9 consecutive bars matching criteria plus a final criterium to generate a buy/sell signal. After A TD Setup is completed the TD countdown starts which requires 13 occurrences of a pattern that don’t have to be consecutive. On completion this generates additional buy/sell signals (blue arrows).
The TD Sequential Indicator was developed by Tom DeMark for trading on the FOREX market. It is also suitable for the market of commodities and options.
This indicator looks for the opposite trend in order to anticipate and identify the turning points of the market. It provides signals in intraday and also on daily timeframe.
Discussions about this indicator can be found in this forum topic: https://www.prorealcode.com/topic/td-sequential-setup/
once TDSL=0
once TDSS=0
once BuySetup=0
once SellSetup=0
Once BuyCountdown=0
once SellCountdown=0
if close[1]>close[5] and close<close[4] then
bearishflip=1
bullishflip=0
elsif close[1]<close[5] and close>close[4] then
bullishflip=1
bearishflip=0
endif
if close<close[4] and bearishflip then
TDSL=TDSL+1
TDSS=0
elsif close>close[4] and bullishflip then
TDSS=TDSS+1
TDSL=0
endif
if TDSL>0 and TDSL<10 then
drawtext("#TDSL#",barindex,low-10*pipsize) coloured(0,255,0)
endif
if TDSL=9 then
L=(low<low[3] and low<low[2]) or (low[1]<low[2] and low[1]<low[3])
bearishflip=0
TDSL=0
BuySetup=1
if L then
DRAWARROWUP(barindex,low-20*pipsize) coloured(0,255,0)
endif
endif
if TDSS>0 and TDSS<10 then
drawtext("#TDSS#",barindex,high+10*pipsize) coloured(255,0,0)
endif
if TDSS=9 then
S=(high>high[2] and high>high[3]) or (high[1]>high[3] and high[1]>high[2])
bullishflip=0
TDSS=0
SellSetup=1
if S then
DRAWARROWDOWN(barindex,high+20*pipsize) coloured(255,0,0)
endif
endif
if BuySetup then
if close<=low[2] then
BuyCountdown=BuyCountdown+1
drawtext("#BuyCountdown#",barindex,low-10*pipsize) coloured(0,0,255)
endif
if BuyCountdown=8 then
Bar8=barindex
elsif BuyCountdown=13 then // TD Countdown perfection buy
if low<=close[barindex-Bar8] then
DRAWARROWUP(barindex,low-20*pipsize) coloured(0,0,255)
endif
BuySetup=0
BuyCountdown=0
endif
elsif SellSetup then
if close>=high[2] then
SellCountdown=SellCountdown+1
drawtext("#SellCountdown#",barindex,high+10*pipsize) coloured(0,0,255)
endif
if SellCountdown=8 then
Bar8=barindex
elsif SellCountdown=13 then //TD Countdown perfection sell
if high>=close[barindex-Bar8] then
DRAWARROWDOWN(barindex,high+20*pipsize) coloured(0,0,255)
endif
SellSetup=0
SellCountdown=0
endif
endif
return