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Very useful for traders who wants to learn details and proper usage of demark indicators.
Mr Perl did an outstanding job of explaining The DeMark indicators. I have read all three books written by Tom DeMark and Mr Perl did an outstanding job of showing the practical use of the DeMark indicators. If you want to do a better job of trading the markets and believe in systems then this book is for you.
Although this book does not simply list formulas for all of the indicators it describes, it is fairly simple to transfer the guidelines listed for a signal to develop into an equation-based trading strategy; anyone that says differently probably has not read the book, but simply glanced over the requirements listed for each indicator.For instance, the simplest indicator in the book states that for a TD Price Flip to occur in an upward trend, the close of the current bar must be lower than the close four bars earlier. (As seen on page 2 of the sample pages). To put this into an equation is simple:if (bar[0][close]
I purchased the book based on reviews that indicated it provided a clear description of the formulas used by DeMark in his indicators. When this happens it is impossible to code the indicator without going to other resources. This is exactly what I was looking for in order to code my trading software. To be sure, some of the indicators and the corresponding formulas are explained clearly but too often clarity is lost. If you want to use the book for programming purposes be prepared to do a great deal of digging in other books and articles in order to extract the formulas for some of the indicators. The bottom line unfortunately is that "DeMark Indicators" is not a one-stop source for DeMark's indicator formulas.
This book is quite a good reference to DeMark indicators, it walks through lot of indicators and explains how to compute them, for some of them he also explains how you can trade them [Edit: the explanations on computing the indicators are very general and fuzzy, not something you can program but only get the general idea].The down side as I see it is that the writer does not contribute to the book from his experience (except from few sentences here and there), for example Chapter 12 ("Putting it all together") is only 2 pages of text (4 of charts). I got the feeling that towards the end of the book the writer got tired and the quality of the explanations quite decreased (some sections I needed to read 5-6 times and still to go online to verify I understood correctly).I'm planning to program few indicators so overall this book was good for me from that point, but as for trading this book is not so helpful hence giving it a 3.2/10/2009 - I edit my comment: I tried to program some indicators into NinjaTrader and unfortunately the step-by-step explanations of calculating the indicators are POOR, very poor. Finally I just got Thom DeMark book and using it.Bottom line - I would update this book to 2 stars but Amazon won't let me, this book adds nothing to Thom's original book: "The New Science of Technical Analysis".
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