Traders Dynamic Index (TDI)

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Traders Dynamic Index (TDI)

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one can relay on this indicator to trade on long terms

But You have to confirm with the others

Traders Dynamic Index (TDI)

The Traders Dynamic Index is a trend following momentum indicator based on the RSI. The RSI calculation itself applies slightly different settings than the standard RSI version.

Indicator Description

First, a 13 period average is used, as opposed to the standard RSI 14 period. Secondly, a smoothing period of 2 is used vs. the customary 3 bars applied to the standard RSI. Finally, the Traders Dynamic Index applies the SMA as the basis for its calculation, not the EMA which is used for the standard RSI calculation.

The Traders Dynamic Index indicator comes with the following parameters:

  • The Priceline, which is a SMA(2) of RSI(13)
  • The Signalline, which is a SMA(7) of RSI (13)
  • The Midband, which is a SMA(34) of RSI (13)
  • The BollingerBands around the SMA(34) using 1.62 StdDev

The following combinations may be considered as trade rules:
– go long, if Priceline > 50
– go short if Priceline Signalline
– go short if Priceline Midband
– trendfilter short, when Priceline BollingerBand.Upper
– add to short, when Priceline By applying the Library Roofing Filter you may correct distortions in the fixed scale threshold readings. The MESA Stochastics indicator comes with an integrated Roofing Filter. If you use an oscillator that do not apply a fixed scale, you may review our Indicator Spotlight on the Z-score and normalization.

Other than the TDI indicator, our standard momentum oscillators category feature a number of other entries, such as the Acceleration Deceleration, Double Smoothed Momentum, Know Sure Thing, LBR 3/10, Stochastics, Fast Stochastics and the Relative Strength Index. We also have a category for advanced oscillators , with among others the Laguerre RSI, Connors RSI, Projection Oscillator and the SVE Stochastics ITF. These tools build on the same concept as the standard momentum oscillators, but with a higher degree of sophistication. In general, they allow for added value approaches, utilizing a set of more complex algorithms.

The Traders Dynamic Index indicator is available for NinjaTrader 8.

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Traders Dynamic Index

Traders Dynamic Index (TDI) MetaTrader indicator — a comprehensive but helpful indicator that uses RSI (Relative Strength Index), its moving averages, and volatility bands (based on Bollinger Bands) to offer traders a full picture of the current Forex market situation. This indicator can use sound and visual alerts. It is available for MT4, MT5, and cTrader.

Input parameters

  • RSI_Period (default = 13) — period in bars for calculation of RSI. Recommended range is between 8 and 25.
  • RSI_Price (default = Close price) — price type to use in RSI calculation.
  • Volatility_Band (default = 34) — period in bars for volatility bands calculation. Recommended range is between 20 and 40. The lower the value the more sensitive the band.
  • StdDev (default = 1.6185) — standard deviation multiplier for volatility bands. It is not recommended to change this parameter.
  • RSI_Price_Line (default = 2) — period of the first moving average (fast) of RSI.
  • RSI_Price_Type (default = Simple) — type of the first moving average of RSI.
  • Trade_Signal_Line (default = 7) — period of the second moving average (slow) of RSI.
  • Trade_Signal_Type (default = Simple) — type of the second moving average of RSI.
  • AlertNative (default = false) — if true, then a native popup alert will be issued each time the red and the yellow lines cross.
  • AlertSound (default = false) — if true, then a sound alert will be played on a signal.
  • AlertEmail (default = false) — if true, alerts will be sent via email. Email should be properly configured in MetaTrader via Tools->Options->Email.
  • AlertNotification (default = false) — if true, alerts will be sent via push notifications to your mobile device. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.

Example

At a first glance, Traders Dynamic Index is not too easy to use, but you will get accustomed to it:

  • For scalping, enter long when the green line is above the red line and enter short when the red line is the above green line.
  • For short-term trading, enter long when the green is above both the red and the yellow lines; enter short when the red one is above both the green and the yellow ones.
  • For medium-term trading, go long under the same conditions as for the short-term trading but only when all lines are below 50; to go short — the same but above 50.

Mind the blue volatility band as it points to the long-term trend strength and volatility when wide. Steep green line changes also signal short-term market volatility.

Downloads (ver. 1.03, 2020-09-11)

MetaTrader 4

MetaTrader 5

cTrader

Please note, cTrader version does not support alerts.

Discussion

Warning! If you do not know how to install this indicator, please read the MetaTrader Indicators Tutorial.

Do you have any suggestions or questions regarding this indicator? You can always discuss Traders Dynamic Index with other traders and MQL programmers on the indicators forums.

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