cristian.d

DeMark Relative Retracement Levels

I have a thing for pivots and SR, so this is Tom DeMark Daily Retracements Levels pivots from DeMark Indicators book by Jason Perl .
Red lines -daily R
Green lines - daily S
Expect reversals or breaks at these points.

and some random stock, just test your instrument
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//Created by CristianD
study(title="CD DeMark Range Expansion", shorttitle="CD DeMark Range Expansion", overlay=true) 
sr = input(true, title="Show Daily Range")

range = high - low

// Daily line breaks
sopen = security(tickerid, "D", open)

a=range[1]*0.382
b=range[1]*0.618
h=sopen+a
h1=sopen+b
l=sopen-a
l1=sopen-b


// Color
hcolor=sopen != sopen[1] ? na : maroon
hcolor1=sopen != sopen[1] ? na : red
lcolor=sopen != sopen[1] ? na : green
lcolor1=sopen != sopen[1] ? na : lime


//Daily Range
highrange1 = security(tickerid, 'D', h) 
highrange2 = security(tickerid, 'D', h1) 
lowrange1 = security(tickerid, 'D', l) 
lowrange2 = security(tickerid, 'D', l1) 


offs_daily = 0
plot(sr and highrange1 ? highrange1 : na, title="Daily High1",color=hcolor, linewidth=3)
plot(sr and highrange2 ? highrange2 : na, title="Daily Daily High2", color=hcolor1, linewidth=3)
plot(sr and lowrange1 ? lowrange1 : na, title="Daily Low1",color=lcolor, linewidth=3)
plot(sr and lowrange2 ? lowrange2 : na, title="Daily Daily Low2", color=lcolor1, linewidth=3)
Thx a lot
Reply
do you have python version of this?
Reply
Hey @cristian.d , Thanks for sharing DeMark's Relative Retracement Levels. I just started reading Jason Perl's book on DeMark Indicators and its really impressive.

Can this only be applied to intraday charts because I don't see any SR levels on daily or weekly chart. Sorry if my question is kinda dumb because I'm relatively new to trading.
+3 Reply
Hi there.. I dont know coding... but can u please code SR Levels using rsi or stochastic.. Please..
+1 Reply
And SPY today and past few days
Reply
cristian.d cristian.d
nevermind my blue lines, they are my regular manually drawn SR levels for SPY
Reply
gwapoko1995 cristian.d
@cristian.d, sir,. do you have python version of this?
+1 Reply
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