YardleyRosette

Traders Dynamic Index Pro by YardleyRosette

This is an excellent indicator thanks to the code author LazyBear!

I have modified to a more appealing colors visually representing market condition.
2 Backgrounds
Uptrend/Sell: Uptrend above Orange line, Sell potential area.
Downtrend/Buy: Downtrend under Orange line, Buy potential area.
I have modified by adding previously unrecognized upper and lower channels of support/resistance zones within Traders Dynamic Index which will be of great use in previously confusing situations.
The Traders Dynamic Index, observes trend direction, market strength, and market volatility.

To be used by the "elite", the Pro accounts.
Multiple Time Frames are ABSOLUTELY required. I'm sorry for those who aren't. I can refer you who don't, to try out KK_Traders Dynamic Index Higher Timeframe (by Kurbelklaus).
Multiple Time Frames are necessary or else technical analysis using this one chart alone will give false reasoning as I have witnessed a few who do attempt to use this time machine, including me when I had not used multiple time frame charts since I did not have the PRO account.
Problems, for example low time frame indicates 'overbought' yet higher time frame indicates it had been oversold. Which are you to agree with? The higher time frame absolutely.
In this condition though an overall retracement will very likely occur in the short-term.

Here is my clever explanation of the rules:
Use of time frames: Traders' choice of combination.
For example, 180, 90, and 45 minute charts may be useful for example with Bitcoin You can see what may confuse others. Apparently rising as a buy signal for having green line cross up from below orange line, but 90 minute time frame thanks to this support/resistance channel coded within T.D.I. can be observed as an alerting condition. Then observing 45 minute time frame notice the blue lines ("Bands") are 'squeezing' the other components you can then expect a breakout, and if its in the overbought side, at least above 56, and the 240 time frame can identify current downtrend... you know how to connect the data given by the charts: Ranging Overbought in a downtrend will breakout. 1) Overbought in downtrend: Sell, 2) Ranging to breakout, set entry order according to pattern. With probability on your side, you can set a sell stop under the tricky uptrend line when all others are wondering what will happen, you are ahead.

According to range scalping: Great Scalping
Only if orange (MBL) line steady within upper and lower midlines 40 and 60
Long, when green and red line are under 44 with green crossing over red.
The green line is above the red line
The green line is above the orange line
Short, when green and red line are above 56 with red crossing over green.
The green line is below the red line
The green line is below the orange line
Close when opposite signal is about to occur
Phát hành các Ghi chú: According to conservative swing trading: Highly Recommended mode
Only if orange (MBL) is under 40 best if near 32.
Long: If price considered oversold with support having no foreseen rejection resistance price due to downtrend (e.g Complimentary Overlay line), Long when green crosses up from under red and orange line.
In other words Long when:
The green line is above the red line
The green line is above the orange line
Short: If price considered overbought and rejected without any likely strong support due to uptrend (e.g Complimentary Overlay line), Short when red crosses down from above green and orange.
In other words Short when:
The green line is below the red line
The green line is below the orange line
Close when opposite signal is about to occur
Otherwise use an automatic or do manual trailing stop loss.
Automatic trailing stop loss, 10 pips is 100 points, referring to MetaTrader4.

Dangerous Events: Ignored long-term, higher time frame price action
Example: High Time frame allowed you to range scalp due to its consolidation stage, distribution/accumulation, you got carried away forgetting to check higher time frame market objective: Reversal or pattern breakout. You can lose plenty for neglecting to do the other part of your job.

Traders Dynamic Index has the following components:
Green line = RSI Price line = RSIPL = Improperly abbreviated by me simply as RSI
Red line = Trade Signal line = TSL
Blue lines = Volatility Bands = VBs : Upper and Lower
Orange line = Market Base Line = MBL
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Additional recommendation: 'TDI Complimentary Overlay by YardleyRosette
- As seen in chart
Phát hành các Ghi chú: Elaboration:
Conservative Swing Trading
Long
Only if orange (MBL) is under 40 best if near 32 (best if stalling to reverse).
Short
Only if orange (MBL) is above 56 best if above 68 heading down or stalling to reverse downward.

Plus the crossover of RSIPL and TSL to its corresponding signal.
Phát hành các Ghi chú: Updated to highlight constricted zones in the market for ease of spotting congestion.

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Bình luận

please develop TDI alert crossed
+2 Phản hồi
To Access indicators or scripts just type on chart, tap / then type " tdi " mine are with my author name.
+1 Phản hồi
i really appreciate your work
Phản hồi
I recommend:
Lengthrsi: 28
Lengthband: 40
Lengthrsipl: 9
Lengthtradesl: 16
Phản hồi
So how can I unlock this bad boi and actually be able to use it on my charts?
Phản hồi
@KiNG1980, Being honest you just ask. You can now check it.
Phản hồi
YardleyRosette YardleyRosette
@YardleyRosette, I thought you were on my script page.
This is only the indicator on which my Overlay was based off of, so I then made a script based off of the Overlay indicator instead of the original TDI indicator.
I gave you access to
my Analytic Tool
Phản hồi
https://s3.tradingview.com/i/I3WFvab9_mid.png As explained before May 23 2019
Phản hồi
TDI repaints, the yellow line specifically
Phản hồi