About the indicator : I learned about it yesterday, it's a quite safe indicator since the condition countdown = 13 doesn't happen very often.
Numbers above chart are setup numbers
Big numbers below the chart are countdown Numbers.
Green : buy setup
Orange : sell setup
green star : sucessful buy intersection
orange star : sucessful sell intersection
blue big numbers : buy countdown
orange big numbers : sell countdown
Buy Setup :
At least 9 consecutive closes are lower than the corresponding closes 4 bars earlier
Sell Setup :
At least 9 consecutive closes are higher than the corresponding closes 4 bars earlier
Buy Intersection :
8th or 9 bar from setup 's high is greater than the low of 3rd or 4th bar earlier
Sell Intersection :
8th or 9 bar from setup 's low is lower than the high of 3rd or 4th bar earlier
Buy Countdown :
close < low
Sell Countdown :
close > high
I didn't do the highest/lowest countdown break verification because it already doesn't happen very often
Also no TDST line (The high of the true range of bar 1 of set-up is called the TDST line)
Feel free to try it and tell me if you modify it, or what could be improved
I have a strategy version of this tell me if you are interested I will publish it.
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.