fxcodebase-backup
Tom Demark Moving Average
Source: https://fxcodebase.com/code/viewtopic.php?f=38&t=61279
Forum: 38 · Topic 61279 · 1 post(s)
Tom Demark Moving Average
Apprentice · Sun Sep 28, 2014 10:46 am
Original LUA indicator:http://fxcodebase.com/code/viewtopic.php?f=17&t=61278
As described in Demark Indicators, page 145 by Jason Perl.
Logic - helps in identifying uptrend / downtrend.
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Identify a prospective bullish trend first: If price low > 12 prior lows, then selling pressure easing.
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Plot bullish TD MA once condition (1) is satisfied where
TD MA = 5 bars MA of lows & extends it for another 4 bars (ie. current price bar & 3 more into future).
And if within the next 4 bars & the market does record a low greater than all 12 previous lows, then the 5-bar MA will continue for another 4 bars.
Otherwise, the MA is not plotted.