From a source in the internet I have written the following indicator for TD Points for levels 1 to 4. I have used forward values so as to have the line starting from the lowest/highest point.
Plot:=Input("TD Point Level 1 to 4",1,4,4);
TDH1:=ValueWhen(1,Ref(H,+1)<H AND H>Ref(H,-1),H);
TDL1:=ValueWhen(1,Ref(L,+1)>L AND L<Ref(L,-1),L);
TDH2:=ValueWhen(1,Ref(H,+2)<Ref(H,+1) AND Ref(H,+1)<H AND Ref(H,-1)<H AND Ref(H,-2)<Ref(H,-1),H);
TDL2:=ValueWhen(1,Ref(L,+2)>Ref(L,+1) AND Ref(L,+1)>L AND Ref(L,-1)>L AND Ref(L,-2)>Ref(L,-1),L);
TDH3:=ValueWhen(1,Ref(H,+3)<Ref(H,+2) AND Ref(H,+2)<Ref(H,+1) AND Ref(H,+1)<H AND H>Ref(H,-1) AND Ref(H,-1)>Ref(H,-2) AND Ref(H,-2)>Ref(H,-3),H);
TDL3:=ValueWhen(1,Ref(L,+3)>Ref(L,+2) AND Ref(L,+2)>Ref(L,+1) AND Ref(L,+1)>L AND L<Ref(L,-1) AND Ref(L,-1)<Ref(L,-2) AND Ref(L,-2)<Ref(L,-3),L);
TDH4:=ValueWhen(1,Ref(H,+4)<Ref(H,+3) AND Ref(H,+3)<Ref(H,+2) AND Ref(H,+2)<Ref(H,+1) AND Ref(H,+1)<H AND H>Ref(H,-1) AND Ref(H,-1)>Ref(H,-2) AND Ref(H,-2)>Ref(H,-3) AND Ref(H,-3)>Ref(H,-4),H);
TDL4:=ValueWhen(1,Ref(L,+4)>Ref(L,+3) AND Ref(L,+3)>Ref(L,+2) AND Ref(L,+2)>Ref(L,+1) AND Ref(L,+1)>L AND L<Ref(L,-1) AND Ref(L,-1)<Ref(L,-2) AND Ref(L,-2)<Ref(L,-3) AND Ref(L,-3)<Ref(L,-4),L);
If(Plot=1,TDH1,If(Plot=2,TDH2,If(Plot=3,TDH3,If(Plot=4,TDH4,0))));
If(Plot=1,TDL1,If(Plot=2,TDL2,If(Plot=3,TDL3,If(Plot=4,TDL4,0))));
According to my understanding of DeMark's use of the above points, various lines connecting two points should be drawn and the terminal value of the lines would act as resistance and support. The higher the order of the points/lines used, the greater the significance as resistance and support points. From Constance Brown's "Technical analysis for the trading professional", the points of intersection of two or more lines carry special significance in terms of potential reversal points.
I have difficulty writing the code for the line connecting two points based on the above definition. Indicators drawing lines have been presented in this forum but I find it difficult to generalize the structure of the indicator.
The other question I have is whether it is possible to draw all or at least the last three or five support/resistance lines.
Thanks for the help and best regards.
Maurizio
