|
This indicator is a personal implementation of the famous Traders Dynamic Index, which uses RSI, moving averages and volatility bands to find trends, reversals and price exhaustions. However, this particular implementation supports not only RSI, but also many other indicators. It is suitable for scalping, day trading, and swing trading and aims to provide a full picture of the current market conditions. - It is a complex but very useful indicator
- Supports RSI, CCI, Stoch, AO, AC, Momentum, WPR, Demarker, RVI, ATR, ROC and ROC of RSI
- Alerts on oversold/overbought levels
- Alerts on trend reversals
The components of the indicator are the following: - The blue line is the main line
- The red line is the signal line
- The yellow line is the trend line
- The bands are relative oversold and overbought levels
- The oscillatorlevels are absolute oversold and overbought levels
For position trading- Long if the blue line falls below the lower band
- Short if the blue line shoots above the upper band
- Confirm optional with the native oversold/overbought levels of the oscillator used
For scalping- Long if the blue line crosses the red line upwards, after leaving the deviation bands
- Short if the blue line crosses the red line downwards, after leaving the deviation bands
For day trading- Long if the blue line crosses the red line upwards and is above the yellow line
- Short if the blue line crosses the red line downwards and it below the yellow line
For swing trading- Long if the blue is above both red and yellow lines, however only if all the lines are below the 50 level.
- Short if the blue line is below both red and yellow lines, however only if all the lines are above the 50 level.
Optionally, you can use higher timeframes to discard or confirm trades and get better timing. | 
