What is TDI?
Traders Dynamic Index Indicator represents an oscillator indicator that combines Relative Strength Index, RSI moving averages, Bollinger volatility bands in one indicator. At the same time, the TDI hybrid indicator measures trend direction, market strength, and market volatility.
The TDI Dynamic Index Indicator is a powerful and comprehensive tool that makes trading easier. It uses Relative Strength Index (RSI), Moving Averages (MA), and Bollinger Bands-based volatility and offers a more condensed manner, allowing Traders to see the full picture of the Forex market situation. The TDI indicator can use both visual and sound alerts. You can find this indicator of cTrader, MT4, and MT5 platforms.
Download Traders Dynamic Index Indicator
Below you can download Traders Dynamic Index Indicator in ex4 format. This indicator is created for the MT4 platform.
How to use Traders Dynamic Index Indicator?
TDI lines on the chart are presented as:
- The green line represents the RSI Price line
- The Red-line represents the Trade Signal line
- Blue lines are Volatility Bands
- The yellow line represents Market Base Line
When the Green-line is over the Red Line, then we have a rising trend. When the Red-line is over the Green Line, then we have a downtrend.
When the price bounces off the Yellow line, we have a market reversal. Market strength is defined as strong, weak, and moderate. When the Blue lines are extremely tight in a narrow range, expect an economic announcement or other market condition to spike the market.
TDI Trading Strategy
Scalping – 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
Long = Green crosses below Red
Short = Green crosses above Red
If Green crosses either Blue lines, consider exiting when
when the Greenline crosses back over the Blue line.
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.
Signal Line Type settings
0 = Simple moving average [DEFAULT]
1 = Exponential moving average
2 = Smoothed moving average
3 = Linear weighted moving average