TDST Lines in Ninja Trader
I have begun learning Ninja Trader. It is very powerful and very complicated and I have a renewed respect for Kuf and how well he has simplified a standard .net language into something that is accessible to beginners. I am not leaving Stockfinder, I am just broadening my horizons.
The above figure is my first result, which is the TDST lines on the QQQQ.
Stocks that are trading in a range do not complete TD Combo and TD Sequential countdowns very often. For stocks that are trading sideways, DeMark likes to use the TDST lines of support or resistance in conjunction with the Sequential or Combo setup count to swing trade.
Basically, you sell if there is a finished setup count, on the way up, and the price is nearing the overhead TDST line (green). You buy if there is a finished setup count, on the way down, and the price is coming into support, defined by a TDST line (red). I have put together another Blocks layout that scans for all stocks that meet these requirements. I’ll post it soon.
Not only did the USO flash a TD Combo buy yesterday, it gave a REI buy today by crossing above -43. So what now? Like I was saying in the webinar yesterday, knowing when to sell is one of the hardest aspects of trading. Having a plan is the first step.
If you picked up the USO, I would move up the stop to the recent lows (make sure it only triggers on a closing basis). I would then aim for a bounce all the way up to the recent TDST resistance line. Once the short term uptrend is established, use a trailing stop to protect profits. (I would suggest my Trailer indicator of course).
If you picked up the DIG (like I did along with David from Trading to Win) I would shoot for its TDST line at 102.91.
I have been playing around a little more with RealCode and came up with this pretty cool channel tool. The channel lines are formed by historic TDST lines. I used the “color if” block to hide the TDST line when the price was either above or below the appropriate line.
I did some quick backtests on buying the pullback after a breakout above the green TDST line. Here are the results for the Nasdaq 100. I’m pretty impressed by the results.
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