DeMarker indicator by PasqualeAntonino

TradingView

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demarker

Calculate and plot the Demarker indicator

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

study("DeMarker")
per=input(title="Period",type=integer,defval=13)
demax=high>high[1] ? high-high[1] : 0   
demin=low<low[1] ? low[1]-low : 0
demax_av=sma(demax,per)
demin_av=sma(demin,per)
dmark=demax_av/(demax_av+demin_av)
h1=hline(0.3)
h2=hline(0.7)
fill(h1,h2,color=blue)
plot(dmark)

Comments

What does this stand for?
demax=high>high ? high-high : 0
especially the high-high part

trader010

@trader010, high > high means if the current high is greater than the previous high (high means previous high) the whole line is an if else statement. if there is a new high, demax will equal the new high minus the previous high (high - high) otherwise demax will equal zero.

Can someone help on how to interpret this?

can i install it to ma MT4?

thx , it works

this is off and not calculating correctly

nicely done thx.
Antonino can you add to this one the TD lines ?
Thx.