Discuss TD Sequential Ultimate indicator (a complete implementation of TD Sequential counts, arrows, and support/resistance lines) for MT4 and MT5 in this thread. You can ask any questions about this indicator here.
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.- there is no countdown cancellation defined (or well defined)
Seems right. That's how it is described in Tom DeMark's method.- after i.e. sell setup there can be another sell setup, not countdown
But this is the correct way - countdown bars don't need to be sequential.- countdown counting is done wrongly - notice that some counting can be postponed until bar meeting requirements of countdown appears
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: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.
Yes, this is how TD Sequential Ultimate indicator works.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
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.BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup
Where does this come from? Again, I don't see this in the sources 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
This I do 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 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.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 is already working in the indicator.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 how it already works, except for 3).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 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.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).
Let's both check again in AUDCHF & EURCHF charts. I will do it in evening and let you knowThe 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 @ D1kris82wt 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.
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.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.kris82wt said:
BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup
Same as above. I will try to find out it and attached here.Where does this come from? Again, I don't see this in the sources I have.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
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.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.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.
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!Enivid, in meanwhile I just checked AUDCHF and take a look, there is something wrong with script
- 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 .kris82wt said:
BUY/SELL SETUP - Setup phase may continue beyond 9th bar as long as each additional bar meets the qualification of Setup
Yes, I've found another bug there. Thanks for reporting it! I will work on fixing it.EURCHF
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).- 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 .
I will test it. Did you add Intersection/Countdown Line/Countdown cancellation in recycling?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.
No, it doesn't add any new features. It just fixes the bugs that prevented it from working as described.I will test it. Did you add Intersection/Countdown Line/Countdown cancellation in recycling?