ETS DeMarker Reversals

This script is based on scarf's "DeMarker with Highlights" and adds dots indicating where a possible reversal could occur, as well as a zones that can help you identify consolidation areas. This script also adds smoothing to decrease false signals so that the indicator is more reliable to signal reversal zones.

It is also very useful in determining divergence in price compared to the indicator, especially when you look at price action compared to the DeMarker indicator.

When the indicator is between 40 and 60, there is a good chance that price will respond by moving sideways and consolidating, above and below those levels, the market tends to start trending.

I hope this helps you to trade better!
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?
Doing what I can to help people trade better. Past performance doesn't guarantee future results. Trade at your own risk. This is not financial advice, it is personal opinion, I'm not a financial adviser. I may have a stake in what I write about.

Bình luận

Hey, thanks for sharing! I would like to try it out but when I copy and paste into Think or Swim nothing shows. Am I missing something? Thanks!
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EasyTradingSignals canonesisidoro
@canonesisidoro, It was developed for TradingView, not Think or Swim.
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Thank you. This is a good one and early indicator
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Thank you! Joe
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Another hey!
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Hello out !
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Im a Bull. I stand for the cup is half full, I live in the cloud, I power to be in the money. I believe in going higher not lower, I want to always go up never down, I am positive not negative. Im a bull!
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On what time frame it works best
And which candle type, like normal candle or HA CANDLE
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@CHDVIKAS, The DeMarker indicator basically tries to identify unusually high buying or selling pressure, and it does this by looking at the highs and lows in the specified number of past periods. So when it moves into the colored overbought or oversold areas at the top or bottom, it's really indicating that there's an usual amount of buying or selling going on, relatively speaking. That's why I added the dots when the buying or selling decreases, which could mean that the market bulls or bears have exhausted themselves, leaving the potential for the market to reverse course. For this reason you should use this indicator together with other confirmations that the market has potentially reversed. One signal that I find relatively obvious and easy to read is when the DeMarker line moves down, and continues to move downward, but the market makes higher highs, that type of divergence indicates to me that the likelihood that the market will be able to continue higher is decreasing, and then I look for a reversal candlestick, Bollinger touch or price action to guide me. For me it works equally well on all timeframes. Hope that helps?
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CHDVIKAS EasyTradingSignals


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