Nanda86

TD D Wave and TD Alternatives - Demark Elliott Waves

Simple working script for mechanised version of elliott wave counting as per the rules from the book "Demark Indicators by Jason Perl"

Also Added TD Alternatives -- Haven't figured how to make it appear when TD countdown finishes...If anybody can help me out please do..

Any update to the script please go ahead and do it... and colabrate...

Hear are the rules

TD D-Wave Requirements of Wave 1 in the bullish (rising) market
The origin of the TD D Wave up Sequence is defined once the market records 21 bar low close. The close is less than all twenty prior closes
Once condition one is satisfied, the market must post a thirteen bar high close. A close that is higher than all twelve prior closes. This confirms the origin of the TD D-Wav sequence and establishes that the market is in Wave 1.
Wave 1 isn’t complete until the market records an eight bar low close (a close less than all seven prior closes), which confirms that Wave 2 has been formed.


TD D-Wave Requirements of Wave 2
The first requirement for wave 2 is the last requirement of Wave 1, that is, that the market records an eight bar low close (a close less than all seven prior closes)
Wave 2 continues until the market records a twenty one bar high close. A close that is higher than all twenty previous closes, reinforcing the notion that wave 3 is underway.


TD D-Wave Requirements of Wave 3
The first requirement for wave 3 is the last requirement of wave 2, that is, Wave 2 continues until the market records a twenty one bar high close.
This remains the case until we see a 13 bar low close (a close less than all 12 prior closes), which means that Wave 3 is complete, and Wave 4 is developing.



TD D-Wave Requirements of Wave 4
The first requirement of Wave 4 is the last requirement of wave 3, that is, there must be a 13 bar low close (a close less than all 12 prior closes), which signals that Wave 3 is complete, and Wave 4 is developing.
Wave 4 is considered complete when the market subsequently posts a 34 bar high close(a close higher than all 12 prior closes), representing the onset of Wave 5.


TD D-Wave Requirements of Wave 5
The first requirement of wave 5 is the last requirement of wave 4, that is the market subsequently posts a 34 bar high close(a close higher than all 12 prior closes). It signals that Wave 4 is complete and Wave is going on.
Wave 5 is considered complete when the market subsequently posts a 13 bar low close for Wave A (a close lower than all 12 prior closes), representing the origin of Wave A.


TD D-Wave Requirements of Wave A
The first requirement for wave A is the last of wave 5, that is the market subsequently posts a 13 bar low close for Wave A (a close lower than all 12 prior closes), representing the origin of Wave A.
Wave A is considered complete when the market subsequently posts an 8 bar high close for Wave B (a close higher than all 7 prior closes), representing the start of Wave B


TD D-Wave Requirements of Wave B
The first requirement for Wave B is the last of wave A, that is, an eight bar high close for Wave B (a close higher than all 7 prior closes), representing the start of Wave B
Wave B is considered complete when the market subsequently posts a 21 bar low close — the low for Wave C (a close lower than all 20 previous closes), representing the onset of Wave C.


TD D-Wave Requirements of Wave C
The first requirement for Wave C is the last of Wave B, that is, a 21 bar low close for Wave B (a close lower than all 20 prior closes), representing the onset of Wave C.
Wave C is complete when the market closes below the low close of TD Wave A
Catatan Pelepasan: Minor Code Enhancements
Skrip sumber terbuka

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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