Ind_TD_DeMark_3_1_LA_Mod_01_AIME

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Author: Copyright � 2005, Kara Software Corp.
Ind_TD_DeMark_3_1_LA_Mod_01_AIME

This script is a technical analysis tool designed for the MetaTrader platform to identify and visualize significant price structural points, specifically focusing on identifying "Turning Points" or "DeMark" pivots. It helps traders visualize market trends by automatically drawing geometric shapes based on historical price highs and lows.

Core Logic and Functionality

1. Identification of Pivot Points The script scans historical price data to find significant peaks (highs) and valleys (lows). It offers two distinct methods for identifying these points:

  • Standard TD Points: It looks for specific price patterns where a high or low is higher/lower than the bars immediately surrounding it.
  • Fractal Method: If enabled, the script switches its logic to use "Fractals," which are standard geometric markers used by many traders to identify structural shifts in market momentum.

2. Trend Visualization (Lines and Shapes) Once the script identifies these pivot points, it performs several automated drawing actions on your chart:

  • Trend Lines: It connects consecutive high points with one color and consecutive low points with another. This allows you to see the "path" the market is taking.
  • Horizontal Levels: It can project horizontal lines based on these pivot points to mark important price zones.
  • Dynamic Colors: The script uses a pre-defined color palette to differentiate between various steps of analysis, making it easier to distinguish between primary and secondary trends.

3. Automated Target Projection (Take Profit) One of the more advanced features of this script is its ability to project potential "Take Profit" zones. When the logic identifies a specific trend transition:

  • It calculates the trajectory of the move.
  • It identifies potential targets based on previous price action (lowest lows or highest highs) relative to that trajectory.
  • These targets are displayed as specific lines on the chart, helping traders visualize where a current move might exhaust itself.

4. User Interface and Display The script provides a comprehensive summary of its calculations directly on the chart display:

  • Data Summary: It prints a text report showing the specific coordinates of the identified high and low points.
  • Step Control: You can choose how many "steps" or layers of history the script should analyze, allowing you to look at long-term trends or short-term fluctuations.
  • Visual Cleanup: Every time the chart updates, the script is designed to clear out old drawings to ensure that only the most relevant and current analysis is visible, keeping your workspace clean.

Summary for the Trader

In simple terms, this tool acts as an automated "trend mapper." Instead of you having to manually click on peaks and valleys to draw lines, the script does the heavy lifting by finding those points for you, drawing the trend lines automatically, and projecting potential profit targets based on the mathematical slope of the market's movement.

Miscellaneous
Implements a curve of type %1
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Ind_TD_DeMark_3_1_LA_Mod_01_AIME
//+------------------------------------------------------------------+
//|                                            Ind-TD-DeMark-3-1.mq4 |
//|                            Copyright © 2005, Kara Software Corp. |
//|                                                                  |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Kara Software Corp."
#property link      ""
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Blue
//---- input parameters
extern int       BackSteps=0;
extern int       ShowingSteps=1;
extern bool      FractalAsTD=false;
extern bool      Commen=False;
extern bool      TD=False;
extern bool      TrendLine=true;
extern bool      HorizontLine=False;
extern bool      TakeProf=True;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
//====================================================================
int init()
  {
   SetIndexStyle(0,DRAW_ARROW);
   SetIndexArrow(0,217);
   SetIndexBuffer(0,ExtMapBuffer1);
   SetIndexEmptyValue(0,0.0);
   SetIndexStyle(1,DRAW_ARROW);
   SetIndexArrow(1,218);
   SetIndexBuffer(1,ExtMapBuffer2);
   SetIndexEmptyValue(1,0.0);
   for (int i=1;i<=10;i++)
     {
      ObjectDelete("HHL_"+i);ObjectDelete("HL_"+i);
      ObjectDelete("HLL_"+i);ObjectDelete("LL_"+i);
      ObjectDelete("HC1_"+i);
      ObjectDelete("HC2_"+i);
      ObjectDelete("HC3_"+i);
      ObjectDelete("LC1_"+i);
      ObjectDelete("LC2_"+i);
      ObjectDelete("LC3_"+i);
     }
   Comment("");    
   return(0);
  }
int deinit()
  {
   for (int i=1;i<=10;i++)
     {
      ObjectDelete("HHL_"+i);ObjectDelete("HL_"+i);
      ObjectDelete("HLL_"+i);ObjectDelete("LL_"+i);
      ObjectDelete("HC1_"+i);
      ObjectDelete("HC2_"+i);
      ObjectDelete("HC3_"+i);
      ObjectDelete("LC1_"+i);
      ObjectDelete("LC2_"+i);
      ObjectDelete("LC3_"+i);
     }
   Comment("");  
   return(0);
  }
//--------------------------------------------------------------------
int SetTDPoint(int B)
{
 int shift;
 if (FractalAsTD==false)
   {
    for (shift=B;shift>1;shift--)
       {
        if (High[shift+1]<High[shift] && High[shift-1]<High[shift] && Close[shift+2]<High[shift])
             ExtMapBuffer1[shift]=High[shift];
        else ExtMapBuffer1[shift]=0;    
        if (Low[shift+1]>Low[shift] && Low[shift-1]>Low[shift] && Close[shift+2]>Low[shift])
            ExtMapBuffer2[shift]=Low[shift];
        else ExtMapBuffer2[shift]=0;    
       }  
    ExtMapBuffer1[0]=0;
    ExtMapBuffer2[0]=0;
    ExtMapBuffer1[1]=0;
    ExtMapBuffer2[1]=0;
   }
 else
   {
    for (shift=B;shift>3;shift--)
       {
        if (High[shift+1]<=High[shift] && High[shift-1]<High[shift] && High[shift+2]<=High[shift] && High[shift-2]<High[shift])
             ExtMapBuffer1[shift]=High[shift];
        else ExtMapBuffer1[shift]=0;    
        if (Low[shift+1]>=Low[shift] && Low[shift-1]>Low[shift] && Low[shift+2]>=Low[shift] && Low[shift-2]>Low[shift])
            ExtMapBuffer2[shift]=Low[shift];
        else ExtMapBuffer2[shift]=0;    
       }  
    ExtMapBuffer1[0]=0;
    ExtMapBuffer2[0]=0;
    ExtMapBuffer1[1]=0;
    ExtMapBuffer2[1]=0;
    ExtMapBuffer1[2]=0;
    ExtMapBuffer2[2]=0;    
   }  
 return(0);
}
//--------------------------------------------------------------------
int GetHighTD(int P)
{
 int i=0,j=0;
 while (j<P)
   {
    i++;
    while(ExtMapBuffer1[i]==0)
      {i++;if(i>Bars-2)return(-1);}
    j++;
   }   
 return (i);         
}
//--------------------------------------------------------------------
int GetNextHighTD(int P)
{ 
 int i=P+1;
 while(ExtMapBuffer1[i]<=High[P]){i++;if(i>Bars-2)return(-1);}
 return (i);
}
//--------------------------------------------------------------------
int GetLowTD(int P)
{
 int i=0,j=0;
 while (j<P)
   {
    i++;
    while(ExtMapBuffer2[i]==0)
      {i++;if(i>Bars-2)return(-1);}
    j++;
   }   
 return (i); 
}
//--------------------------------------------------------------------
int GetNextLowTD(int P)
{
 int i=P+1;
 while(ExtMapBuffer2[i]>=Low[P] || ExtMapBuffer2[i]==0){i++;if(i>Bars-2)return(-1);}
 return (i);
}
//--------------------------------------------------------------------
int TrendLineHighTD(int H1,int H2,int Step,int Col)
{
 ObjectSet("HL_"+Step,OBJPROP_TIME1,Time[H2]);ObjectSet("HL_"+Step,OBJPROP_TIME2,Time[H1]);
 ObjectSet("HL_"+Step,OBJPROP_PRICE1,High[H2]);ObjectSet("HL_"+Step,OBJPROP_PRICE2,High[H1]);
 ObjectSet("HL_"+Step,OBJPROP_COLOR,Col);
 if (Step==1)ObjectSet("HL_"+Step,OBJPROP_WIDTH,2);
 else ObjectSet("HL_"+Step,OBJPROP_WIDTH,1);
 return(0);
}   
//--------------------------------------------------------------------
int TrendLineLowTD(int L1,int L2,int Step,int Col)
{
 ObjectSet("LL_"+Step,OBJPROP_TIME1,Time[L2]);ObjectSet("LL_"+Step,OBJPROP_TIME2,Time[L1]);
 ObjectSet("LL_"+Step,OBJPROP_PRICE1,Low[L2]);ObjectSet("LL_"+Step,OBJPROP_PRICE2,Low[L1]);
 ObjectSet("LL_"+Step,OBJPROP_COLOR,Col);
 if (Step==1)ObjectSet("LL_"+Step,OBJPROP_WIDTH,2);
 else ObjectSet("LL_"+Step,OBJPROP_WIDTH,1);      
 return(0);
}
//--------------------------------------------------------------------
int HorizontLineHighTD(int H1,int H2,int Step,double St,int Col)
{
 ObjectSet("HHL_"+Step,OBJPROP_PRICE1,High[H2]-(High[H2]-High[H1])/(H2-H1)*H2);
 ObjectSet("HHL_"+Step,OBJPROP_STYLE,St);
 ObjectSet("HHL_"+Step,OBJPROP_COLOR,Col);
 return(0); 
}   
//--------------------------------------------------------------------
int HorizontLineLowTD(int L1,int L2,int Step,double St,int Col)
{
 ObjectSet("HLL_"+Step,OBJPROP_PRICE1,Low[L2]+(Low[L1]-Low[L2])/(L2-L1)*L2);
 ObjectSet("HLL_"+Step,OBJPROP_STYLE,St);
 ObjectSet("HLL_"+Step,OBJPROP_COLOR,Col);
 return(0); 
}
//--------------------------------------------------------------------
string TakeProfitHighTD(int H1,int H2,int Step,int Col)
{
 int i,ii,j=0;
 string Comm="";
 double kH,HC1,HC2,HC3,k,St;
 kH=(High[H2]-High[H1])/(H2-H1);
 while (NormalizeDouble(Point,j)==0)j++; 
 k=0;
 for(i=H1;i>0;i--)if(Close[i]>High[H2]-kH*(H2-i)){k=High[H2]-kH*(H2-i);break;}
 if (k>0)
   { 
    Comm=Comm+"UTD_Line ("+DoubleToStr(High[H2]-kH*H2,j)+") broken at "+DoubleToStr(k,j)+", uptargets:\n";
    ii=Lowest(NULL,0,MODE_LOW,H2-i,i);    
    HC1=High[H2]-kH*(H2-ii)-Low[ii];
    HC2=High[H2]-kH*(H2-ii)-Close[ii];
    ii=Lowest(NULL,0,MODE_CLOSE,H2-i,i);
    HC3=High[H2]-kH*(H2-ii)-Close[ii];
    St=STYLE_SOLID;
   } 
 else
   {
    k=High[H2]-kH*H2;
    Comm=Comm+"UTD_Line ("+DoubleToStr(k,j)+"), probable break-up targets:\n";  
    ii=Lowest(NULL,0,MODE_LOW,H2,0);    
    HC1=High[H2]-kH*(H2-ii)-Low[ii];
    HC2=High[H2]-kH*(H2-ii)-Close[ii];
    ii=Lowest(NULL,0,MODE_CLOSE,H2,0);
    HC3=High[H2]-kH*(H2-ii)-Close[ii];
    St=STYLE_DASHDOT;  
   }
 ObjectSet("HL_"+Step,OBJPROP_STYLE,St);  
 Comm=Comm+"T1="+DoubleToStr(HC1+k,j)+" ("+DoubleToStr(HC1/Point,0)+"pts.)";
 //Comm=Comm+" T2="+DoubleToStr(HC2+k,j)+" ("+DoubleToStr(HC2/Point,0)+"pts.)";
 //Comm=Comm+" T3="+DoubleToStr(HC3+k,j)+" ("+DoubleToStr(HC3/Point,0)+"pts.)\n";  
 ObjectSet("HC1_"+Step,OBJPROP_TIME1,Time[H1]);ObjectSet("HC1_"+Step,OBJPROP_TIME2,Time[0]);
 ObjectSet("HC1_"+Step,OBJPROP_PRICE1,HC1+k);ObjectSet("HC1_"+Step,OBJPROP_PRICE2,HC1+k);
 ObjectSet("HC1_"+Step,OBJPROP_COLOR,Col);ObjectSet("HC1_"+Step,OBJPROP_STYLE,St);      
 //ObjectSet("HC2_"+Step,OBJPROP_TIME1,Time[H1]);ObjectSet("HC2_"+Step,OBJPROP_TIME2,Time[0]);
 //ObjectSet("HC2_"+Step,OBJPROP_PRICE1,HC2+k);ObjectSet("HC2_"+Step,OBJPROP_PRICE2,HC2+k);
 //ObjectSet("HC2_"+Step,OBJPROP_COLOR,Col);ObjectSet("HC2_"+Step,OBJPROP_STYLE,St);
 //ObjectSet("HC3_"+Step,OBJPROP_TIME1,Time[H1]);ObjectSet("HC3_"+Step,OBJPROP_TIME2,Time[0]);
 //ObjectSet("HC3_"+Step,OBJPROP_PRICE1,HC3+k);ObjectSet("HC3_"+Step,OBJPROP_PRICE2,HC3+k);
 //ObjectSet("HC3_"+Step,OBJPROP_COLOR,Col);ObjectSet("HC3_"+Step,OBJPROP_STYLE,St);   
 if (Step==1)
   {
    ObjectSet("HC1_"+Step,OBJPROP_WIDTH,2);
//    ObjectSet("HC2_"+Step,OBJPROP_WIDTH,2);
//    ObjectSet("HC3_"+Step,OBJPROP_WIDTH,2);
   } 
 else
   {
    ObjectSet("HC1_"+Step,OBJPROP_WIDTH,2);
//    ObjectSet("HC2_"+Step,OBJPROP_WIDTH,2);
//    ObjectSet("HC3_"+Step,OBJPROP_WIDTH,2);
   }
 return(Comm); 
}
//--------------------------------------------------------------------
string TakeProfitLowTD(int L1,int L2,int Step,int Col)
{
 int i,ii,j=0;
 string Comm="";
 double kL,LC1,LC2,LC3,k,St;
 kL=(Low[L1]-Low[L2])/(L2-L1);
 while (NormalizeDouble(Point,j)==0)j++; 
 k=0;
 for(i=L1;i>0;i--)if(Close[i]<Low[L2]+kL*(L2-i)){k=Low[L2]+kL*(L2-i);break;}
 if (k>0)
   {
    Comm=Comm+"LTD_Line ("+DoubleToStr(Low[L2]+kL*L2,j)+") broken at "+DoubleToStr(k,j)+", downtargets:\n";
    ii=Highest(NULL,0,MODE_HIGH,L2-i,i);    
    LC1=High[ii]-(Low[L2]+kL*(L2-ii));
    LC2=Close[ii]-(Low[L2]+kL*(L2-ii));
    i=Highest(NULL,0,MODE_CLOSE,L2-i,i);
    LC3=Close[ii]-(Low[L2]+kL*(L2-ii));
    St=STYLE_SOLID;
   } 
 else
   {
    k=Low[L2]+kL*L2;
    Comm=Comm+"LTD_Line ("+DoubleToStr(k,j)+"), probable downbreak targets:\n";        
    ii=Highest(NULL,0,MODE_HIGH,L2,0);    
    LC1=High[ii]-(Low[L2]+kL*(L2-ii));
    LC2=Close[ii]-(Low[L2]+kL*(L2-ii));
    ii=Highest(NULL,0,MODE_CLOSE,L2,0);
    LC3=Close[ii]-(Low[L2]+kL*(L2-ii));
    St=STYLE_DASHDOT;
   }
 ObjectSet("LL_"+Step,OBJPROP_STYLE,St);   
 Comm=Comm+"T1="+DoubleToStr(k-LC1,j)+" ("+DoubleToStr(LC1/Point,0)+"pts.)";
 //Comm=Comm+" T2="+DoubleToStr(k-LC2,j)+" ("+DoubleToStr(LC2/Point,0)+"pts.)";
 //Comm=Comm+" T3="+DoubleToStr(k-LC3,j)+" ("+DoubleToStr(LC3/Point,0)+"pts.)\n";
 ObjectSet("LC1_"+Step,OBJPROP_TIME1,Time[L1]);ObjectSet("LC1_"+Step,OBJPROP_TIME2,Time[0]);
 ObjectSet("LC1_"+Step,OBJPROP_PRICE1,k-LC1);ObjectSet("LC1_"+Step,OBJPROP_PRICE2,k-LC1);
 ObjectSet("LC1_"+Step,OBJPROP_COLOR,Col);ObjectSet("LC1_"+Step,OBJPROP_STYLE,St);      
 //ObjectSet("LC2_"+Step,OBJPROP_TIME1,Time[L1]);ObjectSet("LC2_"+Step,OBJPROP_TIME2,Time[0]);
 //ObjectSet("LC2_"+Step,OBJPROP_PRICE1,k-LC2);ObjectSet("LC2_"+Step,OBJPROP_PRICE2,k-LC2);
 //ObjectSet("LC2_"+Step,OBJPROP_COLOR,Col);ObjectSet("LC2_"+Step,OBJPROP_STYLE,St);
 //ObjectSet("LC3_"+Step,OBJPROP_TIME1,Time[L1]);ObjectSet("LC3_"+Step,OBJPROP_TIME2,Time[0]);
 //ObjectSet("LC3_"+Step,OBJPROP_PRICE1,k-LC3);ObjectSet("LC3_"+Step,OBJPROP_PRICE2,k-LC3);
 //ObjectSet("LC3_"+Step,OBJPROP_COLOR,Col);ObjectSet("LC3_"+Step,OBJPROP_STYLE,St);   
 if (Step==1)
   {
    ObjectSet("LC1_"+Step,OBJPROP_WIDTH,2);
    //ObjectSet("LC2_"+Step,OBJPROP_WIDTH,2);
    //ObjectSet("LC3_"+Step,OBJPROP_WIDTH,2);
   } 
 else
   {
    ObjectSet("LC1_"+Step,OBJPROP_WIDTH,2);
    //ObjectSet("LC2_"+Step,OBJPROP_WIDTH,2);
    //ObjectSet("LC3_"+Step,OBJPROP_WIDTH,2);
   }
 return(Comm);
}
//--------------------------------------------------------------------
string TDMain(int Step)
{
 int H1,H2,L1,L2;
 string Comm="---   step "+Step+"   --------------------\n";   
 int i,j; while (NormalizeDouble(Point,j)==0)j++;
 double Style;
 double Col[20];Col[0]=Red;Col[2]=Magenta;Col[4]=Chocolate;Col[6]=Goldenrod;Col[8]=SlateBlue;
                Col[1]=Blue;Col[3]=FireBrick;Col[5]=Green;Col[7]=MediumOrchid;Col[9]=CornflowerBlue;
                Col[10]=Red;Col[12]=Magenta;Col[14]=Chocolate;Col[16]=Goldenrod;Col[18]=SlateBlue;
                Col[11]=Blue;Col[13]=FireBrick;Col[15]=Green;Col[17]=MediumOrchid;Col[19]=CornflowerBlue;
   Step=Step+BackSteps;  
   H1=GetHighTD(Step);
   H2=GetNextHighTD(H1);
   L1=GetLowTD(Step);
   L2=GetNextLowTD(L1);
   if (H1<0)Comm=Comm+"UTD no TD up-point \n";
   else 
     if (H2<0)Comm=Comm+"UTD no TD point-upper then last one ("+DoubleToStr(High[H1],j)+")\n";
     else Comm=Comm+"UTD "+DoubleToStr(High[H2],j)+"  "+DoubleToStr(High[H1],j)+"\n"; 
   if (L1<0)Comm=Comm+"LTD no TD down-point \n";
   else 
     if (L2<0)Comm=Comm+"LTD no TD point-lower then last one ("+DoubleToStr(Low[L1],j)+")\n";   
     else Comm=Comm+"LTD  "+DoubleToStr(Low[L2],j)+"  "+DoubleToStr(Low[L1],j)+"\n";
   //-----------------------------------------------------------------------------------
   if (Step==1)Style=STYLE_SOLID;
   else Style=STYLE_DOT;
   if (H1>0 && H2>0)
     {
      if (TrendLine==1)
        {
         ObjectCreate("HL_"+Step,OBJ_TREND,0,0,0,0,0);
         TrendLineHighTD(H1,H2,Step,Col[Step*2-2]);
        } 
      else ObjectDelete("HL_"+Step);
      if (HorizontLine==1 && Step==1)
        {
         ObjectCreate("HHL_"+Step,OBJ_HLINE,0,0,0,0,0);
         HorizontLineHighTD(H1,H2,Step,Style,Col[Step*2-2]);
        } 
      else ObjectDelete("HHL_"+Step);
      if (TakeProf==1)
        {
         ObjectCreate("HC1_"+Step,OBJ_TREND,0,0,0,0,0);
         ObjectCreate("HC2_"+Step,OBJ_TREND,0,0,0,0,0);
         ObjectCreate("HC3_"+Step,OBJ_TREND,0,0,0,0,0);
         Comm=Comm+TakeProfitHighTD(H1,H2,Step,Col[Step*2-2]);
        }
      else
        {
         ObjectDelete("HC1_"+Step);
         ObjectDelete("HC2_"+Step);
         ObjectDelete("HC3_"+Step);   
        }  
     }
     
   //-----------------------------------------------------------------------------------   
   if (L1>0 && L2>0)
     {   
      if (TrendLine==1)
        {
         ObjectCreate("LL_"+Step,OBJ_TREND,0,0,0,0,0);
         TrendLineLowTD(L1,L2,Step,Col[Step*2-1]);
        }    
      else ObjectDelete("LL_"+Step);
      if (HorizontLine==1 && Step==1)
        {
         ObjectCreate("HLL_"+Step,OBJ_HLINE,0,0,0,0,0);
         HorizontLineLowTD(L1,L2,Step,Style,Col[Step*2-1]);
        } 
      else ObjectDelete("HLL_"+Step);
      if (TakeProf==1)
        {
         ObjectCreate("LC1_"+Step,OBJ_TREND,0,0,0,0,0);
         ObjectCreate("LC2_"+Step,OBJ_TREND,0,0,0,0,0);
         ObjectCreate("LC3_"+Step,OBJ_TREND,0,0,0,0,0);
         Comm=Comm+TakeProfitLowTD(L1,L2,Step,Col[Step*2-1]);
        }
      else
        {
         ObjectDelete("LC1_"+Step);
         ObjectDelete("LC2_"+Step);
         ObjectDelete("LC3_"+Step);       
        }
     }
 return(Comm);       
}
//--------------------------------------------------------------------
int start()
{
 string Comm="";       
   SetTDPoint(Bars-1);
   if (TD==1)
     {
      SetIndexArrow(0,217);
      SetIndexArrow(1,218);
     }
   else
     {
      SetIndexArrow(0,160);
      SetIndexArrow(1,160);
     }   
   if (ShowingSteps>10)
    {
     Comment("ShowingSteps readings 0 - 10");  
     return(0);
    } 
   for (int i=1;i<=ShowingSteps;i++)Comm=Comm+TDMain(i);
   Comm=Comm+"------------------------------------\nShowingSteps="+ShowingSteps+"\nBackSteps="+BackSteps;    
   if (FractalAsTD==true)Comm=Comm+"\nFractals";
   else Comm=Comm+"\nTD point";
   if (Commen==1)Comment(Comm);
   else Comment("");
   return(0);
  }
//+------------------------------------------------------------------+

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