Introduction to the Traders Dynamic Index with Visual Alerts Indicator
Most oscillators provide trend and momentum indications with a limited perspective. The Traders Dynamic Index with Visual Alerts is one of the most complete technical indicators that provide all necessary information regarding the current market.
What is the Traders Dynamic Index with Visual Alerts Indicator?
The Traders Dynamic Index (TDI) with Visual Alerts Indicator is a versatile technical indicator which provides multiple information and indications regarding trend direction, momentum, and overbought or oversold market conditions.
It is an oscillator type of technical indicator which incorporates the Relative Strength Index (RSI), moving average, and Bollinger Bands in one indicator.
This version of the TDI however provides signals and indications regarding the latest trend and momentum, as well as the price point where the signal developed.
How the Traders Dynamic Index with Visual Alerts Indicator Works?
The TDI mainly has the RSI as an oscillator which moves within the range of zero to 100. It then plots a moving average line based on the RSI. It also computes for a volatility band, which is somewhat like a Bollinger Band based on the RSI with an upper, middle, and lower line. The middle line of the volatility bands is also a moving average of the RSI, while the outer lines are standard deviations from the middle line based on the volatility of the RSI line.
The TDI Trend signal is then based on how the RSI line crosses over and overlaps with its moving average line, while the buy or sell signal is based on the crossing over of the RSI line and the middle line of the volatility bands.
How to use the Traders Dynamic Index with Visual Alerts Indicator for MT4
This indicator has several variables and options which can be tweaked related to its RSI line, the moving average line, and its volatility bands.
There are several ways to use the TDI with Visual Alerts Indicator.
The most basic would be to use the confluence of signals presented by the indicator using the arrows plotted by the indicator.
Traders can also use the crossing over of the RSI and the moving average line coming from an oversold or overbought territory as a mean reversal strategy.
Buy Trade Setup
When to Enter?
The RSI line should cross above the middle line of the volatility bands. Open a buy order as soon as the RSI line crosses above its moving average line. Set the stop loss on the support below the entry candle.
When to Exit?
Close the trade as soon as the RSI line reverses back down coming from above the upper volatility bands line.
Sell Trade Setup
When to Enter?
The RSI line should cross below the middle line of the volatility bands. Open a sell order as soon as the RSI line crosses below its moving average line. Set the stop loss on the resistance above the entry candle.
When to Exit?
Close the trade as soon as the RSI line reverses back up coming from above the lower volatility bands line.
Conclusion
The Traders Dynamic Index with Visual Alerts is one of the few technical indicators which can work as a complete trading strategy and system by itself. Traders can easily use this indicator to find high probability trades.
MT4 Indicators – Download Instructions
Traders Dynamic Index with Visual Alerts Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.
Traders Dynamic Index with Visual Alerts Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
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How to install Traders Dynamic Index with Visual Alerts Indicator for MT4.mq4?
- Download Traders Dynamic Index with Visual Alerts Indicator for MT4.mq4
- Copy Traders Dynamic Index with Visual Alerts Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 4 Client
- Select Chart and Timeframe where you want to test your MT4 indicators
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
- Right click on Traders Dynamic Index with Visual Alerts Indicator for MT4.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Traders Dynamic Index with Visual Alerts Indicator for MT4.mq4 is available on your Chart
How to remove Traders Dynamic Index with Visual Alerts Indicator for MT4.mq4 from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Traders Dynamic Index with Visual Alerts Indicator for MT4 (Free Download)
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