TD Sequential Ultimate

kris82wt

Trader
Nov 28, 2020
26
2
9
39
Hi this indicator doesn't work quite correctly. I can point out some errors but I don't know mql programming
 

kris82wt

Trader
Nov 28, 2020
26
2
9
39
I post screenshots of good known indicator and yours. I'm guessing issues here right now:
- there is no countdown cancellation defined (or well defined)
- after i.e. sell setup there can be another sell setup, not countdown
- countdown counting is done wrongly - notice that some counting can be postponed until bar meeting requirements of countdown appears

Pls update me when you will correct issues or if you will have specific problems. I will try to help.

This is great base for great indicator, where most of job is done, only some small corrections are to be made.
 

Attachments

Enivid

Administrator
Staff member
Nov 30, 2008
15,969
798
144
Odessa
www.earnforex.com
Sorry, but I don't see any problems here. Could you please mark them in Paint (or some other image editor)?
- there is no countdown cancellation defined (or well defined)
The countdown cancellation occurs in two cases (for Buy Countdown): 1) new Sell setup arrives, 2) Low[N] and Close[N+1] > Setup's Highest High. As I can see, both these conditions do cancel countdowns in my indicator.

- after i.e. sell setup there can be another sell setup, not countdown
Seems right. That's how it is described in Tom DeMark's method.
- countdown counting is done wrongly - notice that some counting can be postponed until bar meeting requirements of countdown appears
But this is the correct way - countdown bars don't need to be sequential.

I am attaching Tom DeMark's article on the subject for reference here.
 

Attachments

kris82wt

Trader
Nov 28, 2020
26
2
9
39
This document is just a wrap up of methodology but omitts many details.
OK, first of all, what you can see is that the script doesn't define TD Setups properly. I see only flipping from TD Buy Setup to TD Sell Setups, but seems that do not generate few TD Sell/Buy Setups one after another. It's well seen on AUDCHF & EURCHF. You're missing TDST supports/resistances.

Below some details of method that are very important and generates mistakes:

PRICE FLIP - must occur for buy/sell setup to be valid and counted....current bar CLOSES greater (sell)/ less (buy) than the CLOSE 4 bars earlier and the CLOSE of the preceding bar is less (sell) / greater (buy) than or equal to the close 4 bars earlier

BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup

INTERSECTION - For buy/sell countdown to begin Intersection must take place ==> low (sell)/high (buy) of trading bar “8” of Setup (or first subsequent bar) be less (sell)/greater (buy) than or equal to the high (sell)/ low (buy) three or more trading bars earlier up to and including first bar of setup. Only after Setup and Intersection have occurred, the Countdown process begins
for Intersection explanation see attached picture

FIRST BAR OF COUNTDOWN - bar that CLOSES less (buy) / greater (sell) than (or equal to) the low (buy) / high(sell) 2 bars earlier

RECYCLING - Markets may record another Setup during Countdown phase. This additional Setup may occur;
1) BEFORE the completion of Countdown
2) on Countdown
3) AFTER the completion of Countdown and prior to a price flip. This is referred to as "recycling". When market recycles it may be indicationg that the trend is likely to continue. The option of cancelling Countdown if an additional Setup occurs BEFORE the completion of Countdown (bar #13) would cancel Countdown and remove the Countdown numbers from the chart.
When Countdown completes the prevailing trend is still in existence until a proce flip occurs in the opposite direction. During the period of the prevailing trend it's possible for an additional Setup to occur

COUNTDOWN 13th bar - standard option for TD Sequential Buy Countdown require LOW of bar 13 to be less than CLOSE of bar 8. If bar meets requirement for Countdown 13 bar but LOW of that bar is equal to or above CLOSE Countdown 8, an asterisk (*) appears below bar to indicate qualifier is not met (for TD Seq Sell Countdown - HIGH analogically)

COUNTDOWN CANCELLATION - 1) sell/buy Setup appears (opposite) 2) close above the high for current buy /sell Setup (break TDST Support/Resistance) 3) Recycle occurs (new Setup in the same direction and recycle activated)

COUNTDOWN LINE - when TD Seq completes the Countdown phase a low risk trade /zone is identified. Where to draw a line? Identify highest bar of Countdown phase, ie bar 12. Take true range of that #12 bar and add(sell)/substract (buy) it to the high (sell) / low (buy).
 

Attachments

  • Like
Reactions: Enivid

Enivid

Administrator
Staff member
Nov 30, 2008
15,969
798
144
Odessa
www.earnforex.com
OK, first of all, what you can see is that the script doesn't define TD Setups properly. I see only flipping from TD Buy Setup to TD Sell Setups, but seems that do not generate few TD Sell/Buy Setups one after another. It's well seen on AUDCHF & EURCHF. You're missing TDST supports/resistances.
The indicator can produce multiple Buy/Sell Setups in a row if the conditions are met. Here is the example with 3 (and the 4th one forming) Sell Setups on EUR/USD @ D1:
td-sequential-multiple-sell-setups-in-a-row.png
PRICE FLIP - must occur for buy/sell setup to be valid and counted....current bar CLOSES greater (sell)/ less (buy) than the CLOSE 4 bars earlier and the CLOSE of the preceding bar is less (sell) / greater (buy) than or equal to the close 4 bars earlier
Yes, this is how TD Sequential Ultimate indicator works.
BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup
What does this mean? Should the count go to 10, 11, and so on? I don't see that at the DeMark's docs I have.

INTERSECTION - For buy/sell countdown to begin Intersection must take place ==> low (sell)/high (buy) of trading bar “8” of Setup (or first subsequent bar) be less (sell)/greater (buy) than or equal to the high (sell)/ low (buy) three or more trading bars earlier up to and including first bar of setup. Only after Setup and Intersection have occurred, the Countdown process begins
for Intersection explanation see attached picture
Where does this come from? Again, I don't see this in the sources I have.

FIRST BAR OF COUNTDOWN - bar that CLOSES less (buy) / greater (sell) than (or equal to) the low (buy) / high(sell) 2 bars earlier
This I do have.
The option of cancelling Countdown if an additional Setup occurs BEFORE the completion of Countdown (bar #13) would cancel Countdown and remove the Countdown numbers from the chart.
This explicitly contradicts the article I based TD Sequential Ultimate on. There, it is stated that only the occurrence of the opposite setup should cancel a countdown. All other points of Recycling are implemented.

COUNTDOWN 13th bar - standard option for TD Sequential Buy Countdown require LOW of bar 13 to be less than CLOSE of bar 8. If bar meets requirement for Countdown 13 bar but LOW of that bar is equal to or above CLOSE Countdown 8, an asterisk (*) appears below bar to indicate qualifier is not met (for TD Seq Sell Countdown - HIGH analogically)
This is already working in the indicator.
COUNTDOWN CANCELLATION - 1) sell/buy Setup appears (opposite) 2) close above the high for current buy /sell Setup (break TDST Support/Resistance) 3) Recycle occurs (new Setup in the same direction and recycle activated)
This is how it already works, except for 3).
COUNTDOWN LINE - when TD Seq completes the Countdown phase a low risk trade /zone is identified. Where to draw a line? Identify highest bar of Countdown phase, ie bar 12. Take true range of that #12 bar and add(sell)/substract (buy) it to the high (sell) / low (buy).
This is only mentioned in passing in one presentation I've read on TD trend levels. I might consider adding this as an option in the next version of the indicator.
 

kris82wt

Trader
Nov 28, 2020
26
2
9
39
kris82wt said:
OK, first of all, what you can see is that the script doesn't define TD Setups properly. I see only flipping from TD Buy Setup to TD Sell Setups, but seems that do not generate few TD Sell/Buy Setups one after another. It's well seen on AUDCHF & EURCHF. You're missing TDST supports/resistances.
The indicator can produce multiple Buy/Sell Setups in a row if the conditions are met. Here is the example with 3 (and the 4th one forming) Sell Setups on EUR/USD @ D1
Let's both check again in AUDCHF & EURCHF charts. I will do it in evening and let you know
kris82wt said:
BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup
What does this mean? Should the count go to 10, 11, and so on? I don't see that at the DeMark's docs I have.
Well it means that Setup is still valid if next bars are meeting requirements of Setup. You don't put numbers 10,11 etc, but it means Setup is still in play (someone can try to enter market using Setup instead of Countdown, depending on your trading plan - I do so). This is from extract of DeMark documents and I believe book also.
kris82wt said:
INTERSECTION - For buy/sell countdown to begin Intersection must take place ==> low (sell)/high (buy) of trading bar “8” of Setup (or first subsequent bar) be less (sell)/greater (buy) than or equal to the high (sell)/ low (buy) three or more trading bars earlier up to and including first bar of setup. Only after Setup and Intersection have occurred, the Countdown process begins
for Intersection explanation see attached picture
Where does this come from? Again, I don't see this in the sources I have.
Same as above. I will try to find out it and attached here.
kris82wt said:
The option of cancelling Countdown if an additional Setup occurs BEFORE the completion of Countdown (bar #13) would cancel Countdown and remove the Countdown numbers from the chart.
This explicitly contradicts the article I based TD Sequential Ultimate on. There, it is stated that only the occurrence of the opposite setup should cancel a countdown. All other points of Recycling are implemented.
Just additional clarification. If the second/third/etc Setup in same direction occurs BEFORE bar 13 of Countdown, you should rely on Countdown from this second/third/etc Setup. There are some notes saying that you could also consider Setup with bigger true range.


I will try to dig my hard drive to find documents, I have all that in my notes I did based on them.
As I said, let's double check together if Multiple Setups works fine. For now this is my biggest concern
 

Enivid

Administrator
Staff member
Nov 30, 2008
15,969
798
144
Odessa
www.earnforex.com
Enivid, in meanwhile I just checked AUDCHF and take a look, there is something wrong with script
Please see my commentaries in the image. For the most part, discrepancies arise from the fact that we are basing our expectations on different rule sets, but one bug is a real bug of implementation (countdown skipping some bars) and I will work on fixing it. Thanks for reporting!
 

Attachments

kris82wt

Trader
Nov 28, 2020
26
2
9
39
I will comment your comments on pix.
1) regarding "9" failed - it's OK, I agree. I just went through process as a script. Here everything is fine. Also TDST resistance I marked for myself, is ot valid here
2) regarding "there is no 10-12 in Setups" - Correct. I just wanted to point out 2 things:
- buy/sell Setup doesn't end with number "9". This is important because you could go long with end of Setup, not waiting for Countdown and in this particular case your SL could be reached.
kris82wt said:
BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup
- think about arrow - if it always show you where "9" is does it help you? It should be there where suggest you to go long .
TD Sell Setup is OK and in the right place.
3) regarding price flip in red - there is price flip and TD Buy Setup starts there(note, next bar is meeting Setup requirement also), but finally it is cancelled due to consecutive 9 bars
Pls note - you have to know where price flipped. Now you need to find bars meeting rules for Buy Setup.
 
Last edited:

Enivid

Administrator
Staff member
Nov 30, 2008
15,969
798
144
Odessa
www.earnforex.com
- think about arrow - if it always show you where "9" is does it help you? It should be there where suggest you to go long .
The arrow doesn't always appear on the bar #9. It appears only when a Buy Setup has been "perfected" as defined in the article that I've based the indicator on. It can be perfected on any bar starting from #8 and ad infinitum (#9, #10, #11, and so on).
 
  • Like
Reactions: kris82wt

Enivid

Administrator
Staff member
Nov 30, 2008
15,969
798
144
Odessa
www.earnforex.com
Version 1.01 of TD Sequential Ultimate has been released today. I believe it fixes the bugs reported by @kris82wt. Namely, the Countdown not counting or breaking sometimes and sequential Setups not displaying sometimes. Please download and test. The updated indicator is also available via our GitHub repository.
 
  • Like
Reactions: kris82wt

kris82wt

Trader
Nov 28, 2020
26
2
9
39
Version 1.01 of TD Sequential Ultimate has been released today. I believe it fixes the bugs reported by @kris82wt. Namely, the Countdown not counting or breaking sometimes and sequential Setups not displaying sometimes. Please download and test. The updated indicator is also available via our GitHub repository.
I will test it. Did you add Intersection/Countdown Line/Countdown cancellation in recycling?
 

kris82wt

Trader
Nov 28, 2020
26
2
9
39
So far I didn't find any issues. Works great! I have only some doubts about arrows signaling perfected setup.
 

Ichimoku

Trader
Jan 31, 2021
6
0
7
Hello! I like the indicator very much. There is only one issue: It runs so slow in my mt5 terminal. It needs almost 10 minutes till the numbers are shown on the chart. Is there any way to make it faster?
 

Ichimoku

Trader
Jan 31, 2021
6
0
7
BTW, the numbers always disappear as soon as the session begins. So I cannot use it to follow a live session ...