| dayrangers |
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| Wednesday, December 8, 2010 |
| Saturday, April 9, 2011 2:49:36 AM |
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This a custom RealCode Condition. When I left-click the condition I don't see an edit Paint Scheme, for color only able to select the color.
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With realcode conditions we can have label's appear on the chart when a condition is meet with the following function:
label =
By default the label appears on the bottom left of the point of area where the condition is meet. Is there anyway to position this label (ie Top Left)?
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I need a condition inwhich I scan, how can I construct a condition like:
- User Input be the percentage of change (POC)
- Condition returns stocks which are greater than POC on both positive and negative based on the stock's current open
- Condition returns stocks which are greater than POC on both positive and negative based on the stock's previous close
I need one condition to scan for stocks which meet the POC either positive or negative and per the current open and previous close. Basically combining 4 scans into one, if thats possible.
For example an output might be like this (ie POC = 5):
- Stock A: POC 6% per the current open
- Stock B: POC - 7% per the current open
- Stock C: POC -10% per the previous close
- Stock D: POC 15% per the previous close
Anything between -4.9 to 4.9 per previous close or previous open doesn't meet the condition's criteria.
I hope that makes sense.
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Actually if you read Perl's book on page xxvii it notes the following:
All DeMark indicators listed here are registered trademarks and are protected by U.S. trademark law. Any unauthorized use without the express written permission of Market Studies or Thomas DeMark is a violation of the law.
Makes sense, so basically to get a DeMark indicator with the "DeMark indicator" name you must go through an authorized partner (ie Market Studies, CGQ, Bloomberg, etc). In majorigty of our posts we noted the name of DeMark indicator hence it can be interpreted as infringing on the trademark held by Thomas DeMark and Market Studies. So going forward I am assuming it would be safe to post questions to a create an indicator but just don't the name if its a trademarked by Thomas DeMark and Market Studies. I assuming they just removed the post you referenced by accident. Since one of the posts I have which doesn't name the DeMark indicator but we discuss how to build it is still available. Its unfortunate since alot of valuable information was noted in those topics. Would be great if we just delete the reference to "DeMark indicator"and keep the general content there. I would volunteer to assist in that effort.
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Interesting just noticed this. pthegreat, can you contact me through this form please, http://dayrangers.com/contact
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Thank you for the note pthegreat. What timeframes do you trade in? Do you look for Setups on hourly and trade on the 15 min charts?
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CORRECTION: My previous post was for TD Relative Retracement not TD Absolute Retracement.
Can't blame you, I am been trading alot of TD Buy Setups. Been using the breakouts on the TD Supply Line, such a great entry tool. I was doing some more reading for TD Line breakout qualifers, this is what I found:
TD LINE QUALIFIERS
If any of the four qualifiers are true, the trendline break is valid.
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.
Currency Trader - September 2006 - Drawing objective trendlines TD Lines by Currency Trader Staff.pdf
Source: http://forex-strategies-revealed.com/files/user/TDTL.pdf
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Actually for the TD Absolute Retracement, its like this:
- After Trend
- Take the current top or bottom, find the last time price was above or below this price level.
- The lowest low or highest high between these two price levels is used as the basis for calculating retracements.
Source: Active Trader - July 2004 - Absolute Price Projections by Tom DeMark and Rocke DeMark (Last Page)
http://www.mediafire.com/?8tpk4u1ihwsy588
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For both the TD Absolute Retracement and TD Relative Retracement there has to be a significant trend from which the levels can be calculated. Therefore the first question would be how to identify that trend? First thing comes to my mind would be the TD Buy / Sell Setups. So the code structure would be after TD Buy / Sell Setup the following conditions are calculated, in bold are my assumptions the rest comes from Perl's book:
TD Relative Retracement
1. Calculate the difference between the reference low and reference high (low and high of TD Setup);
2. Multiply that number by 0.382 and 0.618, and
3. Add the resulting values to the reference low.
If there no historic highs or lows and there is no prior reference level:
TD Absolute Retracement
- To project downside levels, multiply the high by a factor of 0.382 and 0.618, and
- To project upside levels, multiply the low by a factor of 0.382 and 0.618.
pthegreat, What do you think?
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I was thinking the exact same thing, plus I didn't see that discussios (qualified TDST support and resitance) in Perl's book. I will look into this other books soon. What I found most interested and useful was the TD Absolute and Relative retracements (TDAbsR and TDRelR), I use that right now for trading but do it manually (Part of EW theory), its really great for having a trading target which makes it easy to plot reward risk ratios for any trade, allowing traders to maximize their captial usage and return (ie not taking trades with low reward risk ratios, waste of time and capital).
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