Description
This indicator is a personal implementation of the Traders Dynamic Index (TDI)—a well-known composite tool that evaluates price strength, volatility, and directional momentum. While the original TDI is based solely on RSI, this enhanced version allows you to choose from a broad set of oscillators, making it a customizable solution for nearly any strategy.
You can select from the following built-in oscillators:
- RSI
- CCI
- Stochastic (K, D, Slowing)
- Awesome Oscillator (AO)
- Accelerator Oscillator (AC)
- Momentum
- Williams %R (WPR)
- DeMarker
- Relative Vigor Index (RVI)
- Force Index
- ATR
- Rate of Change (ROC)
Indicator Components
- Blue Line – Main line (reflects current oscillator direction)
- Red Line – Signal line (short-term trend filter)
- Yellow Line – Trend line (longer-term bias)
- Bands – Relative overbought/oversold zones
- Oscillator Levels – Absolute overbought/oversold thresholds
Example Strategies
Position Trading
- Long: Blue line drops below lower band
- Short: Blue line rises above upper band
Scalping
- Long: Blue crosses red upward, after exiting bands
- Short: Blue crosses red downward, after exiting bands
Day Trading
- Long: Blue crosses red upward, and stays above yellow
- Short: Blue crosses red downward, and stays below yellow
Swing Trading
- Long: Blue above both red and yellow, all below level 50
- Short: Blue below both red and yellow, all above level 50
Multi-timeframe filtering is encouraged—i.e., running this on the 15M chart with confirmation from the H1 timeframe.
Input Parameters
- Oscillator – Select the main oscillator (e.g., RSI, CCI, Momentum, etc.)
- Main Period – Period for the main line (blue line)
- Signal Period – Period for the signal line (red line)
- Trend Period – Period for the trend line (yellow line)
- BB Period – Period for the Bollinger-style bands
- BB Deviations – Deviation multiplier for the upper/lower bands
- Max History Bars – Maximum number of past candles to analyze
- RSI Period – Period for RSI if selected
- CCI Period – Period for CCI if selected
- Williams %R Period – Period for WPR
- Momentum Period – Period for Momentum oscillator
- Stoch K – K value for Stochastic oscillator
- Stoch D – D value for Stochastic oscillator
- Stoch Slowing – Smoothing period for Stochastic
- RVI Period – Period for Relative Vigor Index
- DeMarker Period – Period for DeMarker indicator
- Force Index Period – Period for Force Index
- ATR Period – Period for Average True Range
- Alert on OS/OB – Enable or disable alerts on oversold/overbought zones
- Alert on Signals – Enable alerts on short-term trend reversals after OS/OB
- Custom Alert – Optional custom text for alerts
- Display Alerts – Enable on-screen pop-up alerts
- Mail Alerts – Enable email notifications
- Push Alerts – Enable push notifications
- Sound Alerts – Enable audible alerts
- Sound File – Choose sound file to play on alert
