TDI-With Alerts – indicator for MetaTrader 4

(Image: TDI With Alerts MT4 indicator applied over NSE Nifty Future – H1 chart)

Traders Dynamic Index – Overview
This hybrid indicator is developed to assist traders in their ability to decipher and monitor market conditions related to trend direction, market strength, and market volatility. Even though comprehensive, the T.D.I. is easy to read and use.

Green line = RSI Price line
Red line = Trade Signal line
Blue lines = Volatility Band
Yellow line = Market Base Line

Trend Direction – Immediate and Overall
Immediate = Green over Red…price action is moving up.
Red over Green…price action is moving down.

Overall = Yellow line trends up and down generally between the lines 32 & 68. Watch for Yellow line to bounces off these lines for market reversal. Trade long when price is above the Yellow line, and trade short when price is below.

Market Strength & Volatility – Immediate and Overall
Immediate = Green Line – Strong = Steep slope up or down.
Weak = Moderate to Flat slope.

Overall = Blue Lines – When expanding, market is strong and trending. When constricting, market is weak and in a range. When the Blue lines are extremely tight in a narrow range, expect an economic announcement or other market condition to spike the market.

Entry conditions
Scalping – Long = Green over Red, Short = Red over Green
Active – Long = Green over Red & Yellow lines
Short = Red over Green & Yellow lines
Moderate – Long = Green over Red, Yellow, & 50 lines
Short= Red over Green, Green below Yellow & 50 line

Exit conditions*
Long = Green crosses below Red
Short = Green crosses above Red
If Green crosses either Blue lines, consider exiting when when the Green line crosses back over the Blue line.

Subscribe to our data feed service and get this Indicator for FREE

Leave a Reply

Your email address will not be published. Required fields are marked *