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Demark Setup Indicator [CC]

The Setup Indicator was created by Tom Demark and this is one of many steps in his Sequential Indicator that I will be publishing at a later date. You guys all seemed to really like my Demark Reversal Points script and this indicator is very similar to that one. This indicator was designed for minor trend reversals and as you can see in my example chart, it gives many more buy and sell signals. Not all are perfect of course but it does a pretty good job in identifying minor price reversals overall. This indicator looks for downtrends or uptrends that exist for a certain amount of time to determine price reversal points.

If you like this one then let me know and I will continue publishing more Demark indicators or at least my versions of them. Let me know if there are any other indicators you would like to see me publish!
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?

Bình luận

super bedankt
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@Delacosa, thanks!
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I find it perfect for rules based strategy. I will look forward for your versions of Demark indicators. Thank's a lot.
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cheatcountry don_julius
@don_julius, thank you very much!
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thanks for the great indicator.. once question tho
this indicator shows red candles turned to green, and black candles as well
what does this color change mean?
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@azmdf87, So the indicator gives price reversal points of course but it also gives a general trend analysis and that is where the bar colors come in
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Thanks for the work!
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cheatcountry CarlWeston
@CarlWeston, thanks!
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Can this code be added to MT4...
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cheatcountry Nicholas_Gerard_Henry
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