that index is based onto the concept of building trend lines by Thomas Demark, with a few changes from the hunt for TD points.
The indicator allows you into search and display TD lines located on greater timeframes. that is, you do not need to go to the higher interval in order to see what TD lines are on it. The elderly the timeframe from the present one, the thicker the line.
There are three kinds of breakouts in the indicator, like in Demark. You can set up a filter by breakout type.
The TD line can be in three states:
- Not open.
- It’s open. The TD line was breached and the breakout type conditions were met.
- Closed. By default, the display of closed TD lines in the indicator is disabled. TD-the line is closed if the conditions for closing are met.
When the TD line breaks, an open icon appears above the breakout bar. You can configure the display of lines and icons in the indicator parameters.
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- ShowCloseTdline – allows you to enable the display of TD lines that have been closed.
- Count of bars for analysis-indicates the number of history bars to be analyzed.
- Number of bars to the left and to the right when looking TD-peak – the number of bars to the left and to the right when looking for a TD-point.
- Enable a search of lines on senior timeframes – allows you to disable the search for TD lines on senior timeframes.
- Maximum number of bars between the TD-points – the maximum number of bars between the TD-points on the calculated timeframe. If the number of bars is greater, the TD line is searched for on the next period.
- The “Filter to open TD-lines” parameter group allows you to set a filter for breakout types. If the “TD-line break without type” parameter is set to true, any TD-line break will be allowed.
- The “conditions to show TD-line” parameter group sets the conditions for showing TD-lines, and the “conditions to close TD-line” group allows you to set the conditions for closing TD-lines.
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