#6 Tom DeMark Trend lines
Submitted by Edward Revy on June 25, 2009 - 15:48.
This is a well know trend line breakout strategy by Tom DeMark.
The only difficulties traders had earlier were all about constantly drawing trend lines and calculating profit targets.
With a help of custom MT4 indicator this problem was solved.
Two variations of the same indicator:
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Hi
ia there a tutoria that explaind this demark indicator utd ? ltd? step 1 ? horizontal lins ?
tks Réal
Hi Réal,
UTD - Upper Trend line
LTD - Lower Trend line
Step 1 is the only step, programmed for this indicator, so just disregard this message.
Horizontal line value should be set to false. It has no practical application, but rather appears to be a reference point for a programmer when he coded Alerts.
So, just press a reset button after calling an Indicator settings menu.
Those horizontal projection lines you see on the chart are your profit targets after a breakout.
Best regards,
Edward
Thank you
one more question I spend almost all of my time on my sail boat dont have internet connection I take what I can by wifi about once a week when I have a chance can you tell me what time frame would be best to use
thank you for you time reading and answering
Réal
Hi Réal,
suggested time frame is 1 hour,
also you can use 15 min or 4 hour, depending on the time and preferences you have.
Regards,
Edward
Hi Edward
thank very much
Réal
Hi Edward
In the ( TD Line Qualifier and potential filters )They talk about exit s what do they mean when they say (breakout price level) what is that level
Thank you
Réal
Hi Réal,
“Exit if the bar after the breakout bar opens below the breakout price level.”
A breakout level is a price level where price crosses=breaks a trend line.
Regards,
Edward
Hello Edward
I have read the the tread of number 5 and 6 about the trend line stratgie but now it telles me to go to the forum but once there I cant find the tread about this strategie is it the end of it
Réal
Quebec
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