There are several variations on the classic TD Sequential indicator already published so why do another one would be a fair question to ask. Personally i wasn't fully satisfied with how many of them were implemented so i decided to code my own version from the ground up guided by the rules outlined in Jason Perl's: DeMark Indicators book. Thanks to /u/glaz and...
TD Countdown is the "Second Phase" of a TD Sequential.
The idea is that a TD Sequential 8 or 9 with a proper new low signal provides good odds for reversal
If that reversal doesn't happen, that's when the TD countdown happens. TD countdown waits for 13 more new lows (basically) before expiring. Once the TD countdown expires, the odds for reversal will be even...
Red (Buy Setup) and Green(Sell Setup) numbers above the bar.
Count consecutive close less/above 4 bars before.
Red/Green Arrow + S (Simple Countdown) / A (Aggressive Countdown) + C (Combo Countdown) below the bar.
Red/Green circles on the chart.
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
This is my first strategy. Be harsh. Disclaimer : I am a beginner in trading.
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...