OPEN-SOURCE SCRIPT
DeMarker
What the DeMarker Indicator Is:
It’s a trend exhaustion and timing tool, not a trend-following one. The indicator looks for points where an uptrend or downtrend is likely to reverse because the market is “overextended.”
TD Setup:
1) A setup is formed when you get 9 consecutive candles where:
2) In an uptrend setup: each close is higher than the close 4 candles earlier.
3) In a downtrend setup: each close is lower than the close 4 candles earlier.
4) When the 9th candle prints, it signals potential trend exhaustion - not an immediate reversal, but a warning.
👉 Example: If BTC closes higher than the close 4 bars ago for 9 bars straight -> that’s a bullish setup.
It’s a trend exhaustion and timing tool, not a trend-following one. The indicator looks for points where an uptrend or downtrend is likely to reverse because the market is “overextended.”
TD Setup:
1) A setup is formed when you get 9 consecutive candles where:
2) In an uptrend setup: each close is higher than the close 4 candles earlier.
3) In a downtrend setup: each close is lower than the close 4 candles earlier.
4) When the 9th candle prints, it signals potential trend exhaustion - not an immediate reversal, but a warning.
👉 Example: If BTC closes higher than the close 4 bars ago for 9 bars straight -> that’s a bullish setup.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.