KiaCryptiola

Cryptiola TD Setup and Countdown

***********************************************************
// Cryptiola TD Sequential Setup and Countdown.
// (c) Cryptiola TAcademy.Pro, 2018. All rights reserved.
// ***********************************************************

//
// Features:
// ==========
// Setup counts long/short | Encircled number above bar | Close exceeds the close 4 bars earlier in the direction of the setup. |
// | Setup must be contiguous. It resets if a close fails the test. |
//
// 'Perfect' setups | Filled encircled 8 or 9 setup above bar | The high exceeds the high 2 bars earlier in the direction of the setup |
//
// Countdown long/short | Encircled number below bar | On and after a complete (9) setup, increment count for each close: |
// | -- above the high of two bars earlier (rising short countdown). |
// | -- below the low of two bars earlier (falling long countdown). |
// | Is not contiguous, but resets if a new reversing setup completes, or |
// | if the high or low exceeds the extreme high or low of the triggering setup. |
// | The setup exteme high/low recycles based on the fib rules desccribed. |
//
// 'Perfect' countdown | Filled encircled 13 countdown below bar | When the 13th high or low exceeds the close of countdown bar 8 |
//
// Colour | Green for rising setups/countdowns | Reversible in configuration. |
// | Red for falling setups/countdowns | |
//
// Variations from the rules: Does not implement the 'true high/low' rules. Uses simple high/lows.
// Introduces 'perfection', and used this rather than defering the countdown 13.
//
//
// How to trade:
// ==============
//
// Works more reliably on longer timeframes, but is functional on any timeframe.
// A '9' (or perfect '8') signals a potential reversal. Use with price action and candestick patterns and other trends & indicators for support analysis.
// A '13' countdown is a stronger reversal indicator, with the same caveats as above.
// A '13' on or near a '9' setup is an extremely strong signal.
// '9' setups or '13' countdowns across multiple timeframes are the best possible signal. e.g. a monthly 9, a weekly 9, a daily 9.

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