This indicator's formula is quoted from that [NEW MARKET TIMING TECHNIQUES] by Thomas R. DeMark
It consists of setup phase & countdown phase. But not Intersection & TDST. Countdown starts from the first of setup bar. It shows setup count number under the price & countdown number above the price on charts.
SETUP:
For buy first of setup bar; Close(4 bars ago)> Close(current)&Close(4 bars ago)< Close(previous bar). For sell first of setup bar follows opposite process.
From the second bar; Close(4 bars ago)> Close(current). It continues while condition is filled.
COUNTDOWN:
Since setup count bar 9 is filled,Countdown starts from the first of setup bar.
For buy first of countdown bar; Low(2bars ago)>=Close(current)&Low(prev bar)>Low(current)&Close(prev)>Close(current).
From the second bar; Low(2bars ago)>=Close(current)&Low(prev bar)>Low(current)&Close(prev)>Close(current) plus Close(prev countdown)>Close(current) Until bar 10.
From bar 11; Only Close(prev countdown)>Close(current). Countdown lasts by 13. For sell it follows opposite process.
CANCELLATION:
1.In the buy setup or countdown phase, If it is filled with Close(4 bars ago)> Close(current). For sell it follows opposite process.
2. If it is filled with new first of setup bar condition during any phase.
* There's no cancellation method of this; If new setup phase can not cross over prev setup high or low price.
