Forex trading indicators
TDI Visual With Alerts MT4 Indicator
This hybrid indicator is developed to assist traders in their ability to decipher and monitor market conditions related to trend direction, market strength, and market volatility.
Green line = RSI Price line
Red line = Trade Signal line
Blue lines = Volatility Band
Yellow line = Market Base Line
Trend Direction – Immediate and Overall
Immediate = Green over Red…price action is moving up.
Red over Green…price action is moving down.
Overall = Yellow line trends up and down generally between the lines 32 & 68. Watch for Yellow line to bounces off these lines for market reversal. Trade long when price is above the Yellow line, and trade short when price is below
Market Strength & Volatility – Immediate and Overall
Immediate = Green 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 conditionsScalping – Long = Green over Red, Short = Red over Green
Active – Long = Green over Red & Yellow lines
Short = Red over Green & Yellow lines
Moderate – Long = Green over Red, Yellow, & 50 lines
Short= Red over Green, Green below Yellow & 50 line
Exit conditionsLong = Green crosses below Red
Short = Green crosses above Red
If Green crosses either Blue lines, consider exiting when the Green line crosses back over the Blue line.
IMPORTANT: The default settings are well tested and proven. But, you can change the settings to fit your trading style.
Price & Line Type settings:
RSI Price settings
0 = Close price [DEFAULT]
1 = Open price
2 = High price.
3 = Low price.
4 = Median price, (high+low)/2.
5 = Typical price, (high+low+close)/3.
6 = Weighted close price, (high+low+close+close)/4.
RSI Price Line & Signal Line Type settings
0 = Simple moving average [DEFAULT]
1 = Exponential moving average
2 = Smoothed moving average
3 = Linear weighted moving average