As a reminder, no need to buy Socrates subscription to get the infamous numbers, no need for super computer, simple math.
This is the methodology to create easily reversals for any time frame
Every time the market exceeds the previous close high or low, a set of reversals is generated.
There are 4 prices in a set of reversals.
These are determined from the timings 3, 5, 13, 26 for stocks, for the Dow he seems to be using 3, 5, 13, 26.
If a new high is made :
• the low from the previous 3rd session is a bearish reversal,
• the low from the previous 5th session is another bearish reversal,
• the low from the previous 13th session is another bearish reversal,
• and the low from the previous 26th session is another bearish reversal.
If a new low is made :
• the high from the previous 3rd session is a bullish reversal,
• the high from the previous 5th session is another bullish reversal,
• the high from the previous 13th session is another bullish reversal,
• and the high from the previous 26th session is another bullish reversal.
If there is a holiday and the markets were closed, that still counts as a day.
Once a close is above a bullish reversal, it is elected, and when the close is bellow a bearish reversal, it is elected.