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CountDownandErmanometryIndicator

Inthisarticleyouwillfindthedownloadanddescriptionforthe"CountDown"and "Ermanometry"indicatorfromthe09/2011issueoftheTechnicalAnalysisofStocksand CommoditiesMagazine.

Programcode
EquillaScript"CountDown(Indicator)"
ShowSourceCode OpenScript

EquillaScript"Ermanometry(Indicator)"
ShowSourceCode OpenScript Clicktozoomimage

Fundementals
Thisarticledescribestwomethodsforthepredictionvontrendturningpoint,especiallyfor intradaycharts.OnemethodistheCoundDownindicator,asimplifiedversionsimilartothe TomdeMarkTDsequentialindicatorandthesecondmethodisbasedongeometrical reflectionandisbeingcalledErmanometry.Therearecodeexamplesforbothindicators, availablefordownload.
CountDownandErmanometryDaxFuture1h

CalculationandParameters
ThecalculationofthetwoindicatorscanbedetailedinthebookletoftheTechnicalAnalysisof StocksandCommodities.Tounderstandthetwoindicatorsandhowtoapplythemeasily, herearesomeinformation. AdetailedcalculationcanbelookedupintheSeptemberissueofStocksandCommodities

CountDown
TomDeMarkhasdescribedinhisbooksaseriesofindicatorsthatoperateonthebasisof countingvarioussimplepricepatterns.Theindicatorsincludeastartsequenceandusuallya targetsequencebasedthereonandattheendapossibleturnaroundpoint. Inourcountdownindicatortherearetwosuchsequences,eachwithitsownpricepatterns, whicharecountedandevaluatedbyadditionalrules.Theauthorhassimplifiedtheindicator ofthisexample.Thestartofasequenceofninepricepatternsimmediatelyfollowingthe occurrenceofabearishorbullishsimplereversalpattern,calledaflip.Thepatternofan increasingsequenceisaperiodinwhichtheclosingpriceishigherthantheclosingprice fourperiodsbefore.Thepatternforadescendingsequenceisaperiodinwhichtheclosing priceislowerthanthepriorfourperiods. Asequenceiscompleteifexactlyninesuchpatternsfolloweachotherwithoutinterruption.In theoriginalindicator,numerousadditionalrulesexist,makingitpossibletosoftentherigid approach.Theseadditionalruleswillbewaivedinthisinstance,however.Duetotherigid approach,indicatorparametersarenotpresentinthisindicator.Youcanconfigureit manually.

CountDownDaxFuture1hdetailed

ErmanometryDaxFuture1hdetailed

Ermanometry
Thesecondmethodisbasedonpatternsthatrelatetothepriceaxisandsimultaneouslyextendonthetimeline.Theapproachchosenhereis similartoElliotWaveandGanntechniques.Basisfortheforecastoftrendturningpointsaretwopricemovements,ofwhichthefirstmovement istobeunderstoodasatrendandthesecondasacorrectionofthistrendmove.Onceyoucandefineapointonthechart,wherethesecondof thesemovementscametoanend,thestarttocalculatetheErmanometrycanbesethere.Thecalculationbasisisthenumberofperiodsthat canbecountedforeachofthemovements.Basedonthesetwosequences,aseriesoffurthersequenceswillbecalculatedandattheir endpoints,whicharedeterminedintheformofanumberofothertimeperiods,potentialturningpointsthattakeplaceatwhichthemarketwill changedirection.

ParameterErmanometryDescription
Pleasenotethatthedefaultanchorpointofcontrolischosensothatwhenyouinserttheindicatorisdefinitelysomethingtosee.Ifyouwantto reproducetheErmanometry,youmustfirstfindasectionofthechartwhereyoucandefinetwoconsecutivesequencesoftrendandcorrection atwhichendtheanchorpointcanthenbeset.
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Start_CondDetermineshowtheanchorpointfortherepresentationofthetargetperiods.Thedefaultisanumberof500periodsofthe chartsfromthelastperiod.Alternativelyyoucanenterwiththefollowingparameters,adetailedtime. BarsSetstheanchorpointforthestartofthecalculation,ifthechosemethodwasBars_Back.

Start_DateDeterminesthestartdateofthecalculation,ifthealternativestartingmethodisselected.PleaseenterthedateinEuropean format"dd.mm.yyyy"to Start_TimeDeterminestheexactstartingtimeonthestartdate.Pleaseenterthetimeintheform"hhmm".Makesurethattheminutehas toharmonizewiththeperiodsettinginthechart. EFFirstsequence,whichisregardedasatrendmovement. DESecondsequence,whichisseenasthecorrectionoftheprevioustrendmove.

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Source
TechnicalAnalysisofStocksandCommoditiesIssue09/2011
Thisarticleanddisplayedresults,createdwiththeavailablepresentationandanalysistools,areusedsolelyforinformationanddonotprovideinvestmentadvice orrecommendationofanykind.Allrightsreserved.Reproduction,editsandotherunauthorizeduseareundercivilandcriminallaw.