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Traders Dynamic Index
Updated with bug fixes by Sim22.
A comprehensive but helpful indicator that uses RSI (Relative Strength Index), its moving averages, and volatility bands (based on Bollinger Bands) to offer traders a full picture of the current market situation.
Input parameters
RSI_Period (default = 13) — period in bars for calculation of RSI. Recommended range is 14 or 21.
RSI_Price (default = PRICE_CLOSE) — price type to use in RSI calculation.
Volatility_Band (default = 34) — period in bars for volatility bands calculation. Recommended range is between 20 and 40. The lower the value the more sensitive the band.
StdDev (default = 1.6185) — standard deviation multiplier for volatility bands. It is not recommended to change this parameter.
RSI_Price_Line (default = 2) — period of the first moving average (fast) of RSI.
RSI_Price_Type (default = MODE_SMA) — type of the first moving average of RSI.
Trade_Signal_Line (default = 7) — period of the second moving average (slow) of RSI.
Trade_Signal_Type (default = MODE_SMA) — type of the second moving average of RSI.
For scalping, enter long when the green line is above the red line and enter short when the red line is the above green line.
For short-term trading, enter long when the green is above both the red and the yellow lines; enter short when the red one is above both the green and the yellow ones.
For medium-term trading, go long under the same conditions as for the short-term trading but only when all lines are below 50; to go short — the same but above 50.
Mind the blue volatility band as it points to the long-term trend strength and volatility when wide. Steep green line changes also signal short-term market volatility.
Category
NinjaTrader 8 Indicators and More
Details:
Traders Dynamic Index
Category:
NinjaTrader 8 Indicators and More
March 2nd, 2016
Size: 7.50 KB
Downloaded: 1372 times
1713
TropicalRecon
Comments/ratings
stef
March 6th, 2016 02:32 PM
Thanks !
no3putts
November 5th, 2016 03:04 PM
No Comment
ashokkb
February 16th, 2017 04:58 AM
Thanks a lot!
Bobi
April 12th, 2017 09:20 AM
Thank you.
ZenTrader2015
January 27th, 2018 02:43 PM
datahogg
May 6th, 2018 07:23 PM
Thanks.
fido
May 20th, 2018 01:31 AM
No Comment
Harvard
November 14th, 2020 07:42 AM
Thank you
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