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Thomas DeMark Relative Retracement

FREE

Published: 28 May 2022

Current version: 1.10

Thomas DeMark Relative Retracement

Name: Thomas DeMark Relative Retracement
Rating: 5 (1 reviews)
Author: Carl Gustav Johan Ekstrom

Indicators
Carl Gustav Johan Ekstrom
Version: 1.10
Updated: 5 May 2024

Thomas DeMark Relative Retracement uses an objective and consistent approach to Fibonacci Trading by establishing a minimum of three reference points which may provide support or resistance in the market. A great tool for anticipating continued price trends and/or price exhaustions!

Bullish levels are calculated once a potential price low has occurred. This low is compared to previous price action to locate an earlier price low which is equal or lower than the current low. The intervening high between these lows is identified and used to calculated the retracement levels.
Bearish levels are calculated once a potential price high has occurred. This high is compared to previous price action to locate an earlier price high which is equal or higher than the current higher. The intervening low between these highs is identified and used to calculated the retracement levels.

How To Use

Click on the "TD" button, located in the top right corner.
Choose a high or low point, ensuring there are at least three reference points available.
The tool will display Fibonacci support and resistance levels accordingly.

Parameters

Display 1.0 Level: True/False
Bearish Color: Crimson
Bullish Color: Green

more...

238

Sofwan Hadi 2022.05.30 05:31 #

Been playing around before it goes to MQL5 for free. Helped a lot to see the fibo line for the current strategy. As always, Carl is a good person and a very supportive one. Kuddos.

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Filter:

yewm3286 2023.05.27 17:14 #

请问用在哪个周期比较适合日内交易？谢谢！

238

Sofwan Hadi 2022.05.30 05:31 #

Been playing around before it goes to MQL5 for free. Helped a lot to see the fibo line for the current strategy. As always, Carl is a good person and a very supportive one. Kuddos.

4240

Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:28 #

Thank you :)

Version 1.10 2024.05.05

Enhancements to visual appearance.