Indicator-Jones

Tom DeMark Sequential Heat Map - (TD 1-13 heatmap)

Indicator-Jones Pro+ Updated   
This indicator uses Tom DeMark’s TD Sequential counting from 1 to 13.
Number 9 and 13 usually identify an exhausted trend and mark a trend reversal.
The important numbers get displayed as labels (7-13), where 9 and 13 are both highlighted as "Long" or "Short".

Besides the numbers the price candles are colored based upon the sequence.
  • Bullish colors are starting from bright yellow ( TD 1 = start of trend) to dark red ( TD 13 = trend exhausted)
  • Bearish colors are starting from bright blue ( TD 1 = start of trend) to dark blue ( TD 13 = trend exhausted)

DeMark recommends to be used for short term price reversals only but as you can see in the chart, it also works for LUNA 1D chart.
Also works very well with Heikin Ashi candles.

Use it in combination with for example the "Tom DeMark Pressure Ratio" to find tops and bottoms.
You can change the timeframes, disable labels/barcolor and customise colors to your liking.

If you have any idea on how to optimise the code, please feel free to share 🙏

Inspired by "Stochastic Heat Map" from @Violent
Release Notes: 1. optimised the code, thanks to @@HeWhoMustNotBeNamed
2. added alerts
now you can get notifications if TD sequence reaches 7, 9, 13 or all together 7-13, for both buy and sell zones ;)
Release Notes: * fixed a typo (there was a "12" instead of "11")
* added the option to make labels (7,8,10,11,12) transparent and paint only 9 & 13 (Long/Short signal) solid
Release Notes: I was asked by TradingView moderators to remove my donation addresses and update the chart =(
so here we go.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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