glaz

TD Sequential

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22654
TD Sequential with candle counting
S/R lines by johan.gradin https://www.tradingview.com/u/johan.grad...
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.

Want to use this script on a chart?
study("TD Sequential",overlay=true)
transp=input(0)
Numbers=input(true)
SR=input(true)
Barcolor=input(true)
TD = close > close[4] ?nz(TD[1])+1:0
TS = close < close[4] ?nz(TS[1])+1:0

TDUp = TD - valuewhen(TD < TD[1], TD , 1 )
TDDn = TS - valuewhen(TS < TS[1], TS , 1 )
plotshape(Numbers?(TDUp==1?true:na):na,style=shape.triangledown,text="1",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==2?true:na):na,style=shape.triangledown,text="2",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==3?true:na):na,style=shape.triangledown,text="3",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==4?true:na):na,style=shape.triangledown,text="4",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==5?true:na):na,style=shape.triangledown,text="5",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==6?true:na):na,style=shape.triangledown,text="6",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==7?true:na):na,style=shape.triangledown,text="7",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==8?true:na):na,style=shape.triangledown,text="8",color=green,location=location.abovebar,transp=transp)
plotshape(Numbers?(TDUp==9?true:na):na,style=shape.triangledown,text="9",color=green,location=location.abovebar,transp=transp)

plotshape(Numbers?(TDDn==1?true:na):na,style=shape.triangleup,text="1",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==2?true:na):na,style=shape.triangleup,text="2",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==3?true:na):na,style=shape.triangleup,text="3",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==4?true:na):na,style=shape.triangleup,text="4",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==5?true:na):na,style=shape.triangleup,text="5",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==6?true:na):na,style=shape.triangleup,text="6",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==7?true:na):na,style=shape.triangleup,text="7",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==8?true:na):na,style=shape.triangleup,text="8",color=red,location=location.belowbar,transp=transp)
plotshape(Numbers?(TDDn==9?true:na):na,style=shape.triangleup,text="9",color=red,location=location.belowbar,transp=transp)


// S/R Code By johan.gradin
//------------//
// Sell Setup //
//------------//
priceflip = barssince(close<close[4])
sellsetup = close>close[4] and priceflip
sell = sellsetup and barssince(priceflip!=9)
sellovershoot = sellsetup and barssince(priceflip!=13)
sellovershoot1 = sellsetup and barssince(priceflip!=14)
sellovershoot2 = sellsetup and barssince(priceflip!=15)
sellovershoot3 = sellsetup and barssince(priceflip!=16)

//----------//
// Buy setup//
//----------//
priceflip1 = barssince(close>close[4])
buysetup = close<close[4] and priceflip1
buy = buysetup and barssince(priceflip1!=9)
buyovershoot = barssince(priceflip1!=13) and buysetup
buyovershoot1 = barssince(priceflip1!=14) and buysetup
buyovershoot2 = barssince(priceflip1!=15) and buysetup
buyovershoot3 = barssince(priceflip1!=16) and buysetup

//----------//
// TD lines //
//----------//
TDbuyh = valuewhen(buy,high,0)
TDbuyl = valuewhen(buy,low,0)
TDsellh = valuewhen(sell,high,0)
TDselll = valuewhen(sell,low,0)

//----------//
//   Plots  //
//----------//

plot(SR?(TDbuyh ? TDbuyl: na):na,style=circles, linewidth=1, color=red)
plot(SR?(TDselll ? TDsellh : na):na,style=circles, linewidth=1, color=lime)
barcolor(Barcolor?(sell? #FF0000 : buy? #00FF00 : sellovershoot? #FF66A3 : sellovershoot1? #FF3385 : sellovershoot2? #FF0066 : sellovershoot3? #CC0052 : buyovershoot? #D6FF5C : buyovershoot1? #D1FF47 : buyovershoot2? #B8E62E : buyovershoot3? #8FB224 : na):na)

Comments

any link to know how to read this indicator please ?
+265 Reply
What do the green and red horizontal dotted lines mean? Anyone?
+92 Reply
LARAMINI Ghostdog_AUS
@Ghostdog_AUS, it means most recent red 9 level for red dots and most recent green 9 level for green dots.
+18 Reply
Hi.
Could you please explain the meaning of the YELLOW candles. :/
+66 Reply
Hello, love it
but this is only the SETUP part of the indicator
could you program the second phase, the countdown (TD Combo and/or TD Sequential) ???

thanks
+63 Reply
How to use this TD indicator ? Please explain me!!
+55 Reply
Hi Glaz, man just a clarification, the yellow 9 is confirmed 9? appreciate, thx a lot
+31 Reply
Hi Glaz, been using this for a long time and it has been tremendously helpful for my TA. Thank you for sharing this with us

But I have one question, hoping you can help to enlighten me, occasionally, I noticed TD4 turned yellow red, which indicate a down trend continuation, at first I thought my knowledge of TD is not enough (not that I'm having enough), jut that I couldn't find why a TD4 can be an indicator like that

Hope you can help to elaborate on this

Much appreciated
+29 Reply
for those not familiar with it, you can buy the book DEMARK INDICATORS by Jason PERL edited by Bloomberg
+18 Reply
I think Resistance and support levels are backwards? why this TDbuyh ? TDbuyl:?
+16 Reply
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