We will focus on eth/btc market.
It is based on Tom Demark's buy/sell setups and countdowns indicator that I published earlier, so I will not re-explain the indicator here.
At first I couldn't make it successful. The countdowns and setups alone aren't enough. I tried several things and noticed a pattern : I will try to explain it, because I don't expect you to understand the heck code I wrote..
What it does is :
For buy condition :
- A sell setup just started, and 4 bars prior to that we were in a buy countdown (buy setup completed and countdown started. Not waiting for a long countdown. It doesn't happen very often). The countdown required is either 1 or 13 depending on wether we are in a or ( is used to recognize that) : it assures to be ULTRA safe when buying on a and selling on a .
For sell condition :
- A buy setup just started, and 4 bars prior to that we were in a sell countdown. Same here with the countdown check depending on trends.
Thanks for your feedback, I am interested to know what you think !
This is a very old script. Please check my more recent scripts!