TD Lines
This script will follow Tom Demark rules for drawing trendlines. It will automatically draw and update the current supply and demand trendlines using TD Points of the level you can select in the settings (up to level 5).
This version will draw the trendline from right to left (as Demark teaches) using 2 TD Points that are AT LEAST the level you choose in the settings. I prefer this instead of using 2 TD points that are EXACTLY the same level, because that can bring to weird drawings I don't like when there have been swings in the price. Maybe in future I will script another version that uses only exact match between TD Points.
It is good to use level 1 to identify short term swings and go up in level to identify more long term trends. Please note that level 4 or 5 can be rare and return nothing on some charts (an error message will appear after some searching time).
It is possible to activate alerts that will trigger when current price is under support trendline or over resistance trendline.
Have fun, I'd love to receive your feedback. Thank you!
This version will draw the trendline from right to left (as Demark teaches) using 2 TD Points that are AT LEAST the level you choose in the settings. I prefer this instead of using 2 TD points that are EXACTLY the same level, because that can bring to weird drawings I don't like when there have been swings in the price. Maybe in future I will script another version that uses only exact match between TD Points.
It is good to use level 1 to identify short term swings and go up in level to identify more long term trends. Please note that level 4 or 5 can be rare and return nothing on some charts (an error message will appear after some searching time).
It is possible to activate alerts that will trigger when current price is under support trendline or over resistance trendline.
Have fun, I'd love to receive your feedback. Thank you!
Nota Keluaran:
Reduced the width of trendlines to be more precise. Feedback by Operose. Thank you!
Nota Keluaran:
Improved performance. Lines calculation now is more fast.
Nota Keluaran:
Error message when TD Points level is too high for the chart is now shown on top of chart and can be changed in settings.
Nota Keluaran:
Cosmetic Upgrade
Nota Keluaran:
Changed to minimum the width of the lines for best precision.
Nota Keluaran:
Limited maximum level of TD Points to 3, cause the use for higher values is very very rare and with this limitation performance is improved.
Nota Keluaran:
Cosmetic change.