This is another excellent upgrade to a highly-regarded indicator.mrtools wrote: Fri Aug 13, 2021 3:41 am This is another update for TDFI on the original it uses a smoothed price, smoothed with ema, and then a simple smoothed average of that ema, and then the final values are smoothed again with think the original was with an ema. Anyway with this version you can choose which average to use in all 3 instances. Also optimized the code a little more, hopefully to make it faster and lighter.
Just giving this one a try on the Daily Bitcoin chart seems to catch a lot of continuing trends with accuracy using these settings:
- Default parameters
- Only display Arrows when Entering the OB/OS zones
- When the indicator enters OB/OS (Overbought/Oversold) zones, it gives traders a good signal on entering a strong trend, instead of counter-trend trading, the same way one would trade using the CCI as explained in this post: Trading using the CCI and Lambert's Way.
Attached below is a template with these settings. Please give them a go and let us know how you find them
