thomas demark method

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1、ThomasDemarkmethod_________________________________________________________TomDeMarkisaspecialistinthefieldoftechnicalmarketanalysisandhisbest-sellingbook"TheNewScienceofTechnicalAnalysis"releasedin1994spellsoutsomeinnovativetechniqueswhenitcomestotheuseoftrendlines.Howtoestablishatrendlineco

2、rrectly:TD-pointsandTD-linesThenotion«trendline»isofteninterpretedambiguouslyandinconsistently.Unfortunatelyinmostcasestheprocedureofestablishingtrendlinesispersonal,thoughfromthevarietyoftheselinesonlyoneofthemistrue.ThomasDemarkdevelopedamethodofchoosingtwopointstodrawTD-trendlinesimpersona

3、lly(TDistheabbreviationoftheauthor'snameandsurname).Inconsequenceofusageofthismethodthegraphicalanalysisoftrendlinesloosesitssubjectivityandturnsintoamechanicalprocedure.Thefirstthingitisnecessarytorefuseofisformingtrendlinesformlefttoright.Thecurrentpricemovementismuchmoreimportantthanthepri

4、cedynamicinthepast,that’swhytrendlinesmustbedrawnfromrighttoleftsothatthelatestmarketdataareintherightpartofthechart.PointsusedtodrawtrendlinesarecalledTD-pointsandlinesthemselvesarecalledTD-lines.Supplypricepivotpointisabarwiththehighwhichishigherthanthehighsofthebartotheleftandright.Downwar

5、dtrendlinesaredrawnbetweenthehighsofsuchbars.Demandpricepivotpointisabarwiththelowlowerthanthelowsofthebartotheleftandtotheright.Upwardtrendlinesaredrawnbetweenthelowsofsuchbars.TodrawatrendlineitisnecessarytofindconsequentlytwoTD-pointsandtodrawadiagonallinebetweenthem.(Figure1).Figure1.Howt

6、odrawaTD-lineTherearethefollowingtruthcriteriaofTD-points:1.Demandpricepivotpointmustbelowerthantheclosetwobarsbeforeitwasrecorded.2.Supplypricepivotpointmustbehigherthantheclosetwobarsbeforeitwasrecorded.3.ForademandpricepivotpointthecloseofthenextbarmustbehigherthanTDLinerateofadvance.4.For

7、asupplypricepivotpointthecloseofthenextbarmustbelowerthanTDLinerateofrecede.ThesecriteriareduceconsiderablythenumberofTD-pointsandTD-linesatthesametimeincreasingconsiderablytheirreliability.HighsandlowsrecordednotusingthetruthcriteriaforTD-po