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The Traders Dynamic Index uses trend direction, momentum and market volatility to determine market conditions. This indicator uses relative strength index, simple moving average, double exponential moving average and standard deviation to generate five time-series.
The function displays those time-series and returns the TDI or traders dynamic index.
The parameters of the different indicators can be updated directly from the function formula. The default settings are:
RSI: 13 (Relative strength index)
SMA: 7 (Simple moving average)
DEMA: 34 (Double exponential moving average)
STDDEV: 34 (Standard deviation)
Traders Dynamic Index Interpretation:
For short-term trading, traders will enter long when the green line is above both red and gray lines and enter short when the red line is above both the green and yellow lines.
For medium-term trading, the above conditions must be met and the three previous lines must be above 50 (for long & short systems).
- The blue lines show the strength of the trend. The wider the bands are, the stronger is the trend.
- The gray line shows the change in the trend's direction. When this line crosses above 32 level, the trend is considered bullish and it becomes bearish when it crosses below 68 level.
The Traders Dynamic Index is a technical analysis indicator used by Forex, stock and other types of traders. To use this indicator, select a chart, right click to select "Edit Formula" then type:
a = TDI();