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Hi,
My first post, let's see if this
works...
In his book The New Science of Technical Analysis
Tom Demark describes objective and automatic ways to draw trendlines. For
example: a TD demand line can be drawn connecting the two most recent
troughs conforming to the following criteria:
Yesterday's low is higher than today's
low
Tomorrow's low is higher than today's
low
So a trough has higher lows on both sides. The two
most recent troughs are then connected with a trendline and the trendline is
extended into the future. If at anytime the trendline is broken a short position
can be initiated at the point of the line break. If a new trough is created the
trendline is re-drawn between the lows of the two most recent troughs.
Additionally, the demand line must have a positive slope so the most recent
trough's low must be higher than the previous one.
Similarly, a TD supply line kan be drawn connceting
the two most recent tops (a bar with lower highs on both sides) and a break
of a supply line can work as a trigger for a long position or to cover a short
or both. Likewise, the supply line must have a negative slope.
I have seen succesful trading systems only based on
TD Lines, but I am not good enough to program it into amibroker. So I was
wondering if someone can help?
It doesn't look too difficult, though. The troughs
and tops must "only" be defined and connected with trendlines.
Any help would be very appreciated,
Martin from Sweden
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