nikhil2108

TD points

TD Points are used to draw TD Lines also known as Demark's Trend Lines .
There are two types of TD Points-
1. TD supply points- A bar with a maximum price higher than the maximum prices of the previous and subsequent bars. Downward trend lines are drawn through the highs of such bars.

2. TD demand points- A bar with a minimum price below the minimum price of the previous and subsequent bars. Upward trend lines are drawn through the minima of such bars.

There are multiple TD levels based on which no. of bars are considered while calculating TD Points.

This indicator provides input options to select TD level. (Upto 10 levels)
Indicator will draw circles above/below bars denoting TD Supply/Demand point respectively for specific TD level.
User can select multiple TD levels at once. Indicator uses different coloured circles for indicating points for each TD level.

Usage:-
User can draw trend lines using latest TD points and find the breakout for making trade calls.
Release Notes: minor bug fixes.
1. TD Point getting identified for equal highs or lows.
Release Notes: Corrected cases in script name. Added tags for better search.
Release Notes: Bug fixes-
Fixed issue of TD Point detection for L1, in case of same high or low values of subsequent candles.
Open-source script

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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