5e_TDI
thanks to lazy bear for the initial scripting and the below instructions on TDI:
Traders Dynamic Index
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This hybrid indicator helps to decipher and monitor market conditions related to trend direction, market strength, and market volatility .
TDI has the following components:
* Red/Green line = RSI Price line
* Gray line = Trade Signal line
* Blue lines = Volatility Bands
* Orange line = Market Base Line
Trend Direction - Immediate and Overall:
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* Immediate =
Green, price action is moving up.
Red, price action is moving down.
* Overall =
Orange line trends up and down generally between the lines 32 & 68. Watch for Orange line to bounces off these lines for market reversal. Trade long when price is above the Orange line, and trade short when price is below.
Market Strength & Volatility - Immediate and Overall:
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* Immediate = Green/Red 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:
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* Scalping - Long = Green over Red,
Short = Red over Green
* Active - Long = Green over Red & Orange lines
Short = Red over Green & Orange lines
* Moderate - Long = Green over Red, Orange, & 50 line
Short= Red over Green, Green below Orange & 50 line
Trend direction is on screen as a red or green X at the bottom of the indicators, colour relevant to long or short.
Exit conditions:
----------------------------------------------------
If Green crosses either Blue lines, consider exiting when the Green/Red line crosses back over the Blue line.
Traders Dynamic Index
===============================================================
This hybrid indicator helps to decipher and monitor market conditions related to trend direction, market strength, and market volatility .
TDI has the following components:
* Red/Green line = RSI Price line
* Gray line = Trade Signal line
* Blue lines = Volatility Bands
* Orange line = Market Base Line
Trend Direction - Immediate and Overall:
----------------------------------------------------
* Immediate =
Green, price action is moving up.
Red, price action is moving down.
* Overall =
Orange line trends up and down generally between the lines 32 & 68. Watch for Orange line to bounces off these lines for market reversal. Trade long when price is above the Orange line, and trade short when price is below.
Market Strength & Volatility - Immediate and Overall:
----------------------------------------------------
* Immediate = Green/Red 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 & Orange lines
Short = Red over Green & Orange lines
* Moderate - Long = Green over Red, Orange, & 50 line
Short= Red over Green, Green below Orange & 50 line
Trend direction is on screen as a red or green X at the bottom of the indicators, colour relevant to long or short.
Exit conditions:
----------------------------------------------------
If Green crosses either Blue lines, consider exiting when the Green/Red line crosses back over the Blue line.
Versionshinweise:
scripting tweaks
