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Home Forex MT4 Indicators Tom Demark Trendlines Indicator

Tom Demark Trendlines Indicator

Traders taking advantage of Tom Demark Trend Lines can earn money on all timeframes, down to M15. Both, quick scalpers and long term traders can profit from this tool. Additionally, you might not want to wait on a break of a TL, but you can trade its bounce i.e: the price is bouncing inside a triangle drawn by Tom Demark Trend Lines.

Here are the breakout factors to consider before opening long or short trade:

Upside breakout initiators

Initiator 1:
The price bar prior to an upside breakout must be a down close.

Initiator 2:
The current price bar’s open must be greater than both the current TD Supply Line and
the previous price bar’s close and must then trade at least one tick higher.

Initiator 3:
The previous price bar’s close plus the previous bar’s “buying pressure” must be below the
current price bar’s TD Supply Line price level.

Initiator 4:
The current price bar’s open must be above both the previous two price bars’ closes, and
the current price bar’s TD Supply Line must be above the previous price bar’s high.

Downside breakout initiators

Initiator 1:
The price bar prior to a downside breakout must be an up close.

Initiator 2:
The current price bar’s open must be less than both the current TD Demand Line and
the previous price bar’s close and must then trade at least one tick lower.

Initiator 3:
The previous price close minus the previous bar’s “selling pressure” must be above the
current price bar’s TD Demand Line price level.

Initiator 4:
The current price bar’s open must be below both the previous two price bars’ closes, and
the current price bar’s TD Demand Line must be below the previous price bar’s low.

There is one thing I must admit: the method is most profitable on the higher the timeframe.
Sometimes I use it on M15 but I really want prefere to use it on H1 and higher, becouse on low TF there is a lot of market noise.

With TD TL, trader risk very little trading TL bounces. In fact risking 10 pips is not uncommon for me for a TP of about 20 pips + spread. Pairs I like to trade are (ranked by my favourite): USDJPY, GBPUSD, EURUSD, USDCHF, EURJPY, GBPCHF.

Must-see: MT4 Automatic Trendline Indicator

Tom Demark Trendlines Indicator free download:

LINK

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