Tom demark Trendlines Indicator

Writen by Admin | Posted in Forex Indicators No comments

Tom-demark-Trendlines

Tom demark Trendlines Indicator description

Using Tom demark Trendlines can profit on all timeframes down to 15M. scalpers and long term traders can profit from this. Also, u might not wait on a break of a TL but can trade its bounce i.e: the price is bouncing inside a triangle drawn by TD TL.

here are the breakout qualifiers of Tom demark Trendlines:

Upside breakout qualifiers
Qualifier 1: The price bar prior to an upside breakout must be a down close.

Qualifier 2: The current price bar’s open must be greater than both the current TD Supply Line and the
previous price bar’s close and must then trade at least one tick higher.

Qualifier 3: The previous price bar’s close plus the previous bar’s “buying pressure” must be below the current
price bar’s TD Supply Line price level.

Qualifier 4: The current price bar’s open must be above both the previous two price bars’ closes, and the
current price bar’s TD Supply Line must be above the previous price bar’s high.

Downside breakout qualifiers

Qualifier 1: The price bar prior to a downside breakout must be an up close.

Qualifier 2: The current price bar’s open must be less than both the current TD Demand Line and the previous
price bar’s close and must then trade at least one tick lower.

Qualifier 3: The previous price close minus the previous bar’s “selling pressure” must be above the current
price bar’s TD Demand Line price level.

Qualifier 4: The current price bar’s open must be below both the previous two price bars’ closes, and the
current price bar’s TD Demand Line must be below the previous price bar’s low.

Tom demark Trendlines Indicator download

Add Your Comment