TD Sequential
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    TD Sequential

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    Article summary


    TD Sequential is an indicator that helps identify uptrend/downtrend exhaustion or potential reversal price points. The indicator comprises two price sequences – TD Setup (the first one) which is a prerequisite for the TD Countdown (the second sequence). The TD Setup sequence is calculated as the difference between the current Close and the corresponding Close four bars earlier. TD Setup is considered completed after it takes 9 consecutive bars in a row, that means the reversal is about to take place. Then, the TD Countdown sequence starts. It is calculated as the difference between the current Close with the low/high two bars earlier. The TD Countdown sequence is considered completed after it takes 13 consecutive bars in a row, that also may indicate an upcoming price reversal.

    TD Setup = Closen - Closen-4
    TD Countdown = Closen - Low/Highn-2

    where:
    n – calculation period

    TD SequentialTD Sequential

    INPUTS

    InputDescription
    SetupBarLengthThe number of consecutive bars in the TD Setup sequence 
    CountdownBarLengthThe number of consecutive bars in the TD Countdown sequence 
    CountdownStartFromIndexThe index number the countdown starts from

    PLOTS

    The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

    PlotDescription
    SetupBuyThe sequence of bars where bar is taken if Close (today) < Close (4 bars earlier)
    SetupSellThe sequence of bars where bar is taken if Close (today) > Close (4 bars earlier)
    CountdownBuyThe sequence of bars where bar is taken if Low (today) < Low (2 bars earlier)
    CountdownSellThe sequence of bars where bar is taken if High (today) > High (2 bars earlier)
    PerfectSetupBuyHighlightes the candle (by default) on the chart after SetupBuy sequence is completed
    PerfectSetupSellHighlightes the candle (by default) on the chart after SetupSell sequence is completed
    SupportThe support level
    ResistanceThe ressistance level
    CountdownBuyPlusShows plusses on the chart as a number of bars indicating potential buying opportunity happened after a PerfectSetupSell
    CountdownSellPlusShows plusses on the chart as a number of bars indicating potential selling opportunity happened after a PerfectSetupBuy
    SetupTriangleAdds triangles for the SetupBuy and SetupSell sequences on the chart
    PerfectCountdownBuyBy default shows "B mark" on the chart after CountdownBuy sequence is completed
    PerfectCountdownSellBy default shows "S mark" on the chart after CountdownSell sequence is completed
    BuySetupArrowThe arrow indicating a completed SetupBuy sequence on the chart which is a potential buying opportunity
    SellSetupArrowThe arrow indicating a completed SetupSell sequence on the chart which is a potential selling opportunity
    Color

    Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

    Palette

    To create a custom color:

    1. Clickto open the color picker
    2. By using the slider at the bottom, adjust the main color
    3. Then, set a shade for the main color on the palette

    The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

    Weight
    Change the value (in px) to adjust the thickness of the plot.
    Type
    The following plot types are available:
    • Linear. The plot is displayed as a line.
    • Column. The plot is displayed as a histogram.
    • DifferenceThe plot is displayed as a line which represents the difference between High and Low prices of the bar.
    • PointsThe plot is displayed as points.
    • Text above candleThe plot is displayed as the price labels above candles on the chart.
    • Text below candleThe plot is displayed as the price labels below candles on the chart.
    • Triangle above candleThe plot is displayed as triangles above candles on the chart.
    • Color candle. The candles on candle-type charts are highlighted with specified colors.

    OVERLAYING

    Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

    Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE