I found these popular TDI indicators of Dean Malone from 2006, maybe the first zone indicator.
Is it possible to adjust the settings of TDI Alerts v4 to use on several settings for smoothing or filtering? Adaptivness would also be great.
Does it make sense to add the other rsi methods like cuttlers?
Other TDI versions can be downloaded here
Code: Select all
//+------------------------------------------------------------------+
//| |
//| Traders Dynamic Index |
//| |
//| This hybrid indicator is developed to assist traders in their |
//| ability to decipher and monitor market conditions related to |
//| trend direction, market strength, and market volatility. |
//| |
//| Even though comprehensive, the T.D.I. is easy to read and use. |
//| |
//| Green line = RSI Price line |
//| Red line = Trade Signal line |
//| Blue lines = Volatility Band |
//| Yellow line = Market Base Line |
//| |
//| Trend Direction - Immediate and Overall |
//| Immediate = Green over Red...price action is moving up. |
//| Red over Green...price action is moving down. |
//| |
//| Overall = Yellow line trends up and down generally between the |
//| lines 32 & 68. Watch for Yellow line to bounces off |
//| these lines for market reversal. Trade long when |
//| price is above the Yellow line, and trade short when |
//| price is below. |
//| |
//| Market Strength & Volatility - Immediate and Overall |
//| Immediate = Green Line - Strong = Steep slope up or down. |
//| Weak = Moderate to Flat slope. |
//| |
//| Overall = Blue Lines - When expanding, market is strong and |
//| trending. When constricting, market is weak and |
//| in a range. When the Blue lines are extremely tight |
//| in a narrow range, expect an economic announcement |
//| or other market condition to spike the market. |
//| |
//| |
//| Entry conditions |
//| 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 |
//| |
//| Exit conditions* |
//| Long = Green crosses below Red |
//| Short = Green crosses above Red |
//| * If Green crosses either Blue lines, consider exiting when |
//| when the Green line crosses back over the Blue line. |
//| |
//| |
//| IMPORTANT: The default settings are well tested and proven. |
//| But, you can change the settings to fit your |
//| trading style. |
//| |
//| |
//| Price & Line Type settings: |
//| RSI Price settings |
//| 0 = Close price [DEFAULT] (COHLMTW) |
//| 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. |
//| |
//| RSI Price Line & Signal Line Type settings |
//| 0 = Simple moving average [DEFAULT] |
//| 1 = Exponential moving average |
//| 2 = Smoothed moving average |
//| 3 = Linear weighted moving average |
//| SMA EMA SMMA LWMA |
//| Good trading, |
//| |
//| Dean |
//+------------------------------------------------------------------+
MT4 Indicator requests and ideas
