Tom Demark (TD) Sequential Setup
Overview:
- Purpose: Identifies potential price exhaustion points to anticipate reversals.
- Functionality: Counts a series of consecutive candles where the closing price is higher or lower than a specific number of candles earlier.
Key Parameters:
- TD Setup Length: Number of bars for the TD Setup phase.
- TD Countdown Length: Number of bars for the TD Countdown phase.
Usage:
- Reversal Signals: A completed TD Sequential count may indicate a potential reversal point.