HI,
today I want to give my small contribution to this forum: as I have already said several times, I don't know the programming language and therefore I created this excel sheet to make it available to everyone.
Thomas DeMark's trend factors
his work:0.618-0.382=0.236
0.236/4=0.059
(copied from the web) for many years using this number in practice to calculate levels of support and resistance, he came to the conclusion that the most frequent ratio that occurs in trading is 0.0556. Therefore, when calculating the resistance levels, an upward percentage of 0.0556 * 100% = 5.56% is used. When calculating the support levels, a downward percentage of 100% - 5.56% = 94.44% is used to analyze micro-movements or prices whose count goes more than two digits after the decimal point, DeMark suggests using a coefficient with a shifted decimal point, i.e. 0.556% and 99.444%, respectively.

I preferred to decrease these ratios by dividing them again by 2 thus obtaining 0.0278 and 0.0139
you can start the levels from the low/high or from the closing of the bar according to Demark's explanations

I think it is a valid tool to determine supports and resistances to combine with pivots or fibonacci levels to increase the odds

added the date and cells for 4 crosses
example:USDJPY 1H chart

USDJPY 1H chart and second level of resistance calculated from low

added sheet for intraday with closer levels using 0.0556/2=0.0278/2=0.0139/2=0.00695

Hello,

Interesting ratio. 1,382 is regular Fibo extension similar to 1,39. Keep walking this topic.

Hello Tradd
for Gann the levels that derive from an extreme maximum or minimum are important: 25,50,75,100 and obviously also the Fibonacci percentages
if we consider the maximum of January 3, 2021 (weekly chart) and subtract 23.6% we get:
1.2349*23.6/100=0.2914
1.2349-0.2914=0.9435
low of September 25th 2022 = 0.95356 (100 pips difference on 2900 descent....)
in intraday I'm trying the decimals of the eighths and the decimals of fibonacci ... or: 0.025%..0.005...0.0075...etc..etc
0.00382...0.00618....
but any resistance or any support will be broken until the cycle is over

A friend of mine, in his little spare time, coded these 2 indicators for me.
I can tell you that THEY ARE VERY USEFUL...each of you put your own percentages based on the studies done!!
I started with DeMark, as far as using percentages, Demark is just the starting point...there is much more underneath....
Luca (my friend) and I (Enrico..Henry in english)....Lukhenry

uradello wrote: Sat May 27, 2023 12:43 am A friend of mine, in his little spare time, coded these 2 indicators for me.
I can tell you that THEY ARE VERY USEFUL...each of you put your own percentages based on the studies done!!
I started with DeMark, as far as using percentages, Demark is just the starting point...there is much more underneath....
Luca (my friend) and I (Enrico..Henry in english)....Lukhenry

Can someone convert those mq5 indicators to mq4 so we can try them? Thanks.

read carefully

uradello wrote: Fri Jun 09, 2023 2:57 am read carefully

What book is this from?