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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).
Additional notes:
- 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();
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
