Hello all I'm sure some of you know about thomas demarks trendline indicator which is one of the most accurate ways to draw trendlines and projections throughout the market.
There are some qualifiers that create a valid trendline break. I was wondering if anyone knew about this style of trendline trading and would like to code a trade setting for true when atleast one of the qualifiers are met to show a valid breakout. Here are the 4 qualifiers
Upside breakout qualifiers
Qualifier 1: The price bar prior to an upside breakout must be a down close.
Qualifier 2: The current price bar’s open must be greater than both the current TD Supply Line and the previous price bar’s close and must then trade at least one tick higher.
Qualifier 3: The previous price bar’s close plus the previous bar’s “buying pressure” must be below the current price bar’s TD Supply Line price level.
Qualifier 4: The current price bar’s open must be above both the previous two price bars’ closes, and the current price bar’s TD Supply Line must be above the previous price bar’s high.
Downside breakout qualifiers
Qualifier 1: The price bar prior to a downside breakout must be an up close.
Qualifier 2: The current price bar’s open must be less than both the current TD Demand Line and the previous price bar’s close and must then trade at least one tick lower.
Qualifier 3: The previous price close minus the previous bar’s “selling pressure” must be above the current price bar’s TD Demand Line price level.
Qualifier 4: The current price bar’s open must be below both the previous two price bars’ closes, and the current price bar’s TD Demand Line must be below the previous price bar’s low.
There are some qualifiers that create a valid trendline break. I was wondering if anyone knew about this style of trendline trading and would like to code a trade setting for true when atleast one of the qualifiers are met to show a valid breakout. Here are the 4 qualifiers
Upside breakout qualifiers
Qualifier 1: The price bar prior to an upside breakout must be a down close.
Qualifier 2: The current price bar’s open must be greater than both the current TD Supply Line and the previous price bar’s close and must then trade at least one tick higher.
Qualifier 3: The previous price bar’s close plus the previous bar’s “buying pressure” must be below the current price bar’s TD Supply Line price level.
Qualifier 4: The current price bar’s open must be above both the previous two price bars’ closes, and the current price bar’s TD Supply Line must be above the previous price bar’s high.
Downside breakout qualifiers
Qualifier 1: The price bar prior to a downside breakout must be an up close.
Qualifier 2: The current price bar’s open must be less than both the current TD Demand Line and the previous price bar’s close and must then trade at least one tick lower.
Qualifier 3: The previous price close minus the previous bar’s “selling pressure” must be above the current price bar’s TD Demand Line price level.
Qualifier 4: The current price bar’s open must be below both the previous two price bars’ closes, and the current price bar’s TD Demand Line must be below the previous price bar’s low.