hi guys
I use Demark Trend lines too and I wanted to put the indicators I found helpful but also wanted to write the rules for Demark valid trend line breaks. The below points are from Demarks book and are from the post of Mr demark and the indicator I use is very similar to the one he is using. The reason I noted the rules below here is this:
Would it not be great if a programmer could integrate the rules to the indicator and the indicator could identify which break is a valid break OR not a valid break!
Any programmer up for this? Unfortunately Im an accountant and I only know how to count and squba dive.
the rules are also in the attached pdf.
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.
Hope this helps everyone
I use Demark Trend lines too and I wanted to put the indicators I found helpful but also wanted to write the rules for Demark valid trend line breaks. The below points are from Demarks book and are from the post of Mr demark and the indicator I use is very similar to the one he is using. The reason I noted the rules below here is this:
Would it not be great if a programmer could integrate the rules to the indicator and the indicator could identify which break is a valid break OR not a valid break!
Any programmer up for this? Unfortunately Im an accountant and I only know how to count and squba dive.
the rules are also in the attached pdf.
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.
Hope this helps everyone
Attached File(s)
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