Nanda86

TD D Wave and TD Alternatives - Demark Elliott Waves

Simple working script for mechanised version of elliott wave counting as per the rules from the book "Demark Indicators by Jason Perl"

Also Added TD Alternatives -- Haven't figured how to make it appear when TD countdown finishes...If anybody can help me out please do..

Any update to the script please go ahead and do it... and colabrate...

Hear are the rules

TD D-Wave Requirements of Wave 1 in the bullish (rising) market
The origin of the TD D Wave up Sequence is defined once the market records 21 bar low close. The close is less than all twenty prior closes
Once condition one is satisfied, the market must post a thirteen bar high close. A close that is higher than all twelve prior closes. This confirms the origin of the TD D-Wav sequence and establishes that the market is in Wave 1.
Wave 1 isn’t complete until the market records an eight bar low close (a close less than all seven prior closes), which confirms that Wave 2 has been formed.


TD D-Wave Requirements of Wave 2
The first requirement for wave 2 is the last requirement of Wave 1, that is, that the market records an eight bar low close (a close less than all seven prior closes)
Wave 2 continues until the market records a twenty one bar high close. A close that is higher than all twenty previous closes, reinforcing the notion that wave 3 is underway.


TD D-Wave Requirements of Wave 3
The first requirement for wave 3 is the last requirement of wave 2, that is, Wave 2 continues until the market records a twenty one bar high close.
This remains the case until we see a 13 bar low close (a close less than all 12 prior closes), which means that Wave 3 is complete, and Wave 4 is developing.



TD D-Wave Requirements of Wave 4
The first requirement of Wave 4 is the last requirement of wave 3, that is, there must be a 13 bar low close (a close less than all 12 prior closes), which signals that Wave 3 is complete, and Wave 4 is developing.
Wave 4 is considered complete when the market subsequently posts a 34 bar high close(a close higher than all 12 prior closes), representing the onset of Wave 5.


TD D-Wave Requirements of Wave 5
The first requirement of wave 5 is the last requirement of wave 4, that is the market subsequently posts a 34 bar high close(a close higher than all 12 prior closes). It signals that Wave 4 is complete and Wave is going on.
Wave 5 is considered complete when the market subsequently posts a 13 bar low close for Wave A (a close lower than all 12 prior closes), representing the origin of Wave A.


TD D-Wave Requirements of Wave A
The first requirement for wave A is the last of wave 5, that is the market subsequently posts a 13 bar low close for Wave A (a close lower than all 12 prior closes), representing the origin of Wave A.
Wave A is considered complete when the market subsequently posts an 8 bar high close for Wave B (a close higher than all 7 prior closes), representing the start of Wave B


TD D-Wave Requirements of Wave B
The first requirement for Wave B is the last of wave A, that is, an eight bar high close for Wave B (a close higher than all 7 prior closes), representing the start of Wave B
Wave B is considered complete when the market subsequently posts a 21 bar low close — the low for Wave C (a close lower than all 20 previous closes), representing the onset of Wave C.


TD D-Wave Requirements of Wave C
The first requirement for Wave C is the last of Wave B, that is, a 21 bar low close for Wave B (a close lower than all 20 prior closes), representing the onset of Wave C.
Wave C is complete when the market closes below the low close of TD Wave A
Phát hành các Ghi chú: Minor Code Enhancements
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Bình luận

Good morning,

I am still new to the Waves aspect of the TD Sequential indicators. I'd like to understand your script better. I am using your indicator on General Mills (Ticker GIS ) for example. The indicator places Wave 0 on the May 7 candle indicating that we are just now potentially entering Wave 1. But looking back, it seems that Feb 27 or Feb 28 might be the Origin. Counting Feb 28, the Mar 17 candle was the 13th candle than the prior 12, followed by the May 7 candle which is the first instance after Wave 1 when there is candle lower than the close of the seven prior. If correct, it would appear GIS is now in Wave 3. I know I must be incorrect so I am hoping you can explain where I have applied bad info to the chart and why the May 7 candle appears to be the Wave 1 Origin. Thank you Nanda86
Phản hồi
Nanda86 halojoe
@halojoe, You have to run this indicator along with RSI..so when when RSI goes below 30 there is higher probablity that wave 0 will start there..same when RSI is above 70 there is a higher probablity wave C will start...Having look at the GIS...Wave 0 started 28thFeb ...if you start counting waves from there wave 1 end was 17th march and wave 2 was a deep correction ended on 25th march...on 16th April price crossed Wave 1 extreme and you should have been in the market. but wave 4 started in the next day and consolidated until 8th way and there after wave 5 started..you are in the last leg of this upmove..so look out for correction... and your target should have been 68.60.. Read the chapter TD waves...at the end he answers few questionnaires and he explains how to do that in conjunction with RSI...cheers

Phản hồi
Nanda86 Nanda86
Phản hồi
halojoe Nanda86
@Nanda86, Thank you for the reply. I think I was confused by the W 2 because I thought that wave required 8th candle lower than prior 7 which Mar 25 low was not lower than prior 7 candles....I will reread what you suggested. Appreciate your response.
Phản hồi
Catching "Wave 3" and "Wave C" consistently...
Phản hồi
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