cheatcountry

Demark Reversal Points [CC]

This is a custom indicator of mine based on Tom Demark's 9 indicator which is also used in the beginning steps of the Demark Sequential Indicator which I will be publishing later. He recommends this be used for short term price reversals only but as you can see in the chart, it avoided the big crash in Feb 2020. I have marked when to buy or sell so it should be pretty simple to follow.

This was a custom request so let me know if there are other scripts you would like to see me publish or if you want something custom done!
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Comments

Do you have code that can screen the entire SP 500 to see what stocks are approaching buy/sell exhaustion?
+1 Reply
cheatcountry pakdave293
@pakdave293, I have c# code that I wrote that does something very similar but I don't think it would be possible with pine script
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pakdave293 cheatcountry
@cheatcountry, Any advice on where to find a screener like that? Finviz?
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cheatcountry pakdave293
@pakdave293, I use the finviz screener myself but it wouldn't work in combination with a indicator that is good and spotting buy/sell exhaustion
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Thanks for sharing this script. Can it be improved so it would have also produced a buy signal around the middle of March?
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cheatcountry imohammed786
@imohammed786, If you shorten the default lengths by a day or two it would catch many more signals but it might also create some false signals so keep that in mind
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@MarxBabu, yw
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This is fantastic. Could you direct me where I could find a tutorial on how to better read and understand this indicator?
Thank you very much for sharing this great tool!
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cheatcountry FelixAntonio
@FelixAntonio, yw and since this is a custom indicator, I don't have a tutorial written except what you see here. The idea was to find areas where the stock has reach its highest or lowest point and areas where it is potentially going to reverse. You can send me a message on here if you still have questions for me
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