lirre8

TD Sequential Setup and Countdown

Slightly modified version of the Tom Demark Sequential indicator. The setup phase doesn't require a number in the opposite direction to restart the count which means a green 1 can show up on the first candle after a green 9.

The setup phase numbers are shown on top of the candles and the countdown below the candles. An aggressive sell/buy countdown number 13 is displayed as the character 'A' under an arrow.

Release Notes: Minor code correction
Release Notes: Added setup trend lines.

Differentiate between imperfect/perfected setup by setting the 9's arrow color to orange/red or lime/green.

Release Notes: Fix bug when calculating non-perfected buy setup
Release Notes: Add setting to control the continuous setup count feature. If deselecting it, the script will not start a new setup count if a setup in the opposite direction has not started.
Release Notes: Implemented countdown cancellation according to the rules:
- A setup appears in the opposite direction.
- Close above the highest high for the current setup (break of TDST)
- Recycle occurs (new setup in the same direction)
Release Notes: Implement countdown qualifier - the low of countdown bar 13 must be lower (buy) / higher (sell), or equal to the close of countdown bar 8. A postponed countdown bar 13 is marked with a '+'.
Release Notes: Migrate to version 3 + code cleanup
Release Notes: Add setting to control the countdown numbers, either "Standard" or "Aggressive". The countdown type that is not chosen will have its 13 countdown marked with either "S" or "A".
Release Notes: Countdown text color bug fix
Release Notes: Fix bug when calculating setup perfection ("8 & 9 higher/lower than 6 & 7" should be "8 or 9 higher/lower then 6 & 7")
Release Notes:
  • Update to version 4
  • Clean up plots for easier use with alerts
Release Notes: No code changes.

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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.

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