Based on request
viewtopic.php?f=27&t=61274
As described in Demark Indicators, page 145 by Jason Perl.
Logic - helps in identifying uptrend / downtrend.
1. Identify a prospective bullish trend first:
If price low > 12 prior lows, then selling pressure easing.
2. 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.
Tom Demark Moving Average.lua- (4.18 KiB) Downloaded 854 times
The indicator was revised and updated
