# TD Combo A Momentum & Oscillators reference entry (Exhaustion-count cluster (DeMark)) in the LuxAlgo Library: explained, not implemented as a chart indicator. ## What is TD Combo? TD Combo is one of Tom DeMark's exhaustion count studies. Rather than transforming price into an oscillator line, it counts qualifying bars as a trend matures and prints those counts on the chart, flagging the point where the move has, by its rules, used up the fuel that produced it. It is a sibling of TD Sequential, pursuing the same goal through a different and generally more demanding set of counting conditions. The philosophy separates it from mainstream momentum tools. Indicators such as [MACD](https://www.luxalgo.com/library/concept/macd/) or [ROC](https://www.luxalgo.com/library/concept/roc/) confirm that a turn has begun; DeMark's counts attempt to anticipate the turn by identifying exhaustion as it completes. A finished count is therefore a warning that continuation requires fresh energy, not proof that a reversal has started. In oscillator terms, a completed count plays a role similar to a deeply [overbought or oversold](https://www.luxalgo.com/library/concept/overbought-oversold/) reading paired with a [regular divergence](https://www.luxalgo.com/library/concept/regular-bullish-bearish-divergence/): it marks conditions for a reversal without timestamping one. DeMark practice attaches risk levels to each signal that define where the exhaustion case is wrong. ## How to read TD count annotations On licensed platforms, TD Combo prints numbers above or below price bars, and the annotations can be read even though the rules generating them are not reproduced here. 1. Locate the active count: ascending numbers beneath a decline or above an advance show the study tracking a maturing trend. 2. Watch for the completion marker: platforms flag a finished count distinctly, and that flag, not any individual number, is the exhaustion signal. 3. Find the associated risk level: DeMark studies attach a price at which the signal is considered violated; note it before acting. 4. Then consult price: practitioners look for confirming bar behavior after completion, because a count can complete while the trend keeps going. ## Why there's no indicator for this The counting methodology is the product: which bars qualify, how the phases of a count relate, and what cancels or restarts a count are proprietary to DeMark Analytics and licensed commercially. Books by DeMark and authorized authors have described the framework, but the specification as maintained today is licensed, and community scripts labeled TD are reverse-engineered reconstructions that disagree with one another in edge cases, precisely the cases that decide whether a count completes. A faithful TD Combo cannot be verified without the licensed specification, so the Library documents the study instead of shipping an approximation. Authentic implementations are available through DeMark Analytics licensees, notably Bloomberg, and through the Symbolik platform. ## How traders use it - As a stop-chasing flag: a completed count late in an advance tells trend riders to stop adding, tighten stops, or take partial profits, even if they never trade against the trend. - Contrarian confluence: fade specialists want a completed count to coincide with independent evidence, such as an extreme or a divergence on [RSI](https://www.luxalgo.com/library/concept/rsi/), before positioning for a turn. - Cross-timeframe framing: a completion on a weekly chart defines a zone in which daily-timeframe reversal setups get taken more seriously. - Risk discipline: the risk level attached to a signal provides an objective invalidation point; a clean violation is read as the exhaustion case failing rather than a reason to average in. ## FAQ ### How is TD Combo different from TD Sequential? Both count bars to identify trend exhaustion, and they often complete in similar areas. Combo applies more demanding qualifying conditions, so practitioners commonly describe it as the stricter of the pair and pay extra attention when the two agree. ### Is a completed TD Combo count a buy or sell signal? Not by itself. It flags exhaustion conditions; practitioners typically wait for confirming price behavior and use the associated risk level to define where the idea is wrong. ### Does TD Combo work intraday or on crypto? The counting logic applies to any bar chart, and licensed platforms allow it. Behavior varies by market and timeframe, and no setting removes the risk of counting against a persistent trend. ### Where can I use an authentic TD Combo? Through DeMark Analytics licensees such as Bloomberg terminals, and through Symbolik by DeMark. Free scripts are unofficial reconstructions that cannot be checked against the licensed rules. ## Related concepts - TD Sequential: https://www.luxalgo.com/library/concept/td-sequential/ - TD REI: https://www.luxalgo.com/library/concept/td-rei/ - DeMarker: https://www.luxalgo.com/library/concept/demarker/ - TD Pressure: https://www.luxalgo.com/library/concept/td-pressure/ - TD D-Wave: https://www.luxalgo.com/library/concept/td-d-wave/ - TD Auxiliary Studies: https://www.luxalgo.com/library/concept/td-auxiliary-studies/ --- Source: https://www.luxalgo.com/library/concept/td-combo/ (LuxAlgo Library, the encyclopedia of trading & technical analysis). Free to use with attribution: https://www.luxalgo.com/library/license/