MATHR3E

MATHR3E TD Setup Trend

This indicator serves as a basis for MATHR3E sequential extension indicators.
It includes graphical features which are not present - but needed - in these indicators:



Note:
This is a private indicator:
Access is granted to anyone who supports my work.
For more details, I invite you to visit my profile and my signature section.



Technical Terms:
  • Price flip is a signal of a potential reverse:
    - Bullish TD Price Flip: A Bullish TD Price Flip occurs when the market records a close less than the close four bars before, immediately followed by a close greater than the close four bars earlier.
    - Bearish TD Price Flip: A Bearish TD Price Flip occurs when the market records a close greater than the close four bars earlier, immediately followed by a close less than the close four bars earlier.

  • Setup filters out the signals, that is, it identifies where a new trend starts and when there is only a correction within the current trend:
    - TD Buy Setup: After a bearish TD Price Flip, there must be nine consecutive closes; each one less than the corresponding close four bars earlier.
    - TD Sell Setup: After a bullish TD Price Flip, there must be nine consecutive closes, each one greater than the corresponding close four bars earlier.


Features:
  • TD Setup (nine consecutive closes; each one less/greater than the corresponding close four bars earlier): Counts are represented by numbers from 1 to 9
    - GREEN display = bullish sell setup
    - RED display = bearish buy setup

  • Perfected/Unperfected Setup:
    - RED character 9 display = Perfected buy setup
    - GREEN character 9 display = Perfected sell setup
    - GRAY character 9 display = Unperfected buy/sell setup

  • TDST Levels ( TD Setup Trend level helps to determine the underlying directional bias):
    - TDST Support is a GREEN dotted line (Formed after valid sell setup)
    - TDST Resistance is a RED dotted line (Formed after valid buy setup)
    - TDST intermediate Support is a GREEN setback dotted line (Formed after invalid sell setup)
    - TDST intermediate Resistance is a RED setback dotted line (Formed after invalid buy setup)

  • Setup Tag (Visual indication to determine Setup validity)
    - RED character ︼ displays below 9 = Valid buy setup / Qualify for new countdown
    - GRAY character ︼ displays below 9 = invalid buy setup
    - GREEN character ︻ displays above 9 = Valid sell setup / Qualify for new countdown
    - GRAY character ︻ displays above 9 = invalid sell setup

  • Extension (last setup true range is greater than previous setup - or extension lower limit parameter - and smaller than the extension upper limit parameter)
    - Fuchsia character E displayed with Diamond Flag

  • Recycle (Double consecutive setup without recording a reversal price flip)
    - Green character R displayed when valid setup
    - Gray character R displayed when invalid setup
    - Fuchsia character R displayed when combined with Extension Flag


Inputs parameters:
  • Price Flip Bars = Number of Bars to generate a Price Flip
  • Setup Upper Limit = Fibonacci Extension upper limit to generate a valid Setup
  • Setup Lower Limit = Fibonacci Extension lower limit to generate a valid Setup
  • Setup Range Source= Setup Range extremities source (Open/Close/HL ( high-Low ))
  • Strict Setup = Last setup must exceed the extreme range level established by the previous Setup
  • Show/Hide Setup
  • Ignore Recycle
  • Ignore Extension
  • Small-Cap: Price Flip will be more sensitive even if there is no price change

Release Notes: Label: MATHR3E BASIC TDST-1.2
New: Adding Risk Lines for TD buy/sell Setup.

Risk Line Settings available:
1. Demark Rule: Identify the TD Setup bar with the highest/lowest true high/low, and add the true range of that bar to its true high/low.
2. ATR mode: Get an ATR based level to the completed setup (bar 9).

Risk Tolerance parameters:
Define your risk tolerance= difference between the close of TD Setup (bar 9) and associated TDST Line
Visual background associated with Risk Tolerance:
- Buy Setup: Green=OK; Gray=above risk
- Sell Setup: Red=OK; Gray=above risk
Release Notes: Release Notes:
Label: MATHR3E BASIC TDST-1.3
New: Risk Lines for TD buy/sell Countdowns.
Fix: TD Setup Risk Lines stop once crossed. Extend parameter added to keep them synchronized with TDST lines
Release Notes: Label: MATHR3E BASIC TDST-1.4
Fix: TDST Lines are now calculated based on True Low / True High from completed setups.
Other options (HL/open/close) have been removed in order to free variables for other features.
Fix: TD Risk Lines also calculated based on True Low / True High values.
New: Parameter "Ignore TDST Lines" to continue risk line beyond TDST line violation
Release Notes: Label: MATHR3E BASIC TDST-1.5
- Upgraded: Pinescript V4
- New: Parameter "Setup location": Move setups above/below bars in on clic // options=
- New: Parameter "Extend TDST Lines" to continue/stop TDST lines beyond its violation

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⬛ Access to MATHR3E Indicators 📈🔓:
https://www.patreon.com/MATHR3E/

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