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TD_I - indicator for MetaTrader 5
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- Published:
- 2018.09.27 15:45
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The TD_I indicator (Thomas DeMark Indicator) is a modified version of the standard DeMarker Indicator by Thomas R. DeMark.
The range of values is from 0.0 to 100.0 instead of the standard 0.0-1.0. Additionally, a shift was introduced: instead of comparing current bar's High/Low with the previous bar's High/Low, this indicator uses current bar's High/Low and the High/Low price of the bar with the given shift, which allows to filter noises.
There are four input parameters:
- Period - calculation period;
- Shift - set to 1 by default, corresponds to DeMarker;
- Overbought - overbought level;
- Oversold - oversold level.
Calculations:
TD_I = 100.0 * HighAvg / (HighAvg + Low_Avg)
where:
HighAvg = SMA(HighDiff, Period) LowAvg = SMA(LowDiff, Period) HighDiff = High - High[Shift] LowDiff = Low[Shift] - Low
Fig. 1. TD I, period 8, shift 1
Fig. 2. TD I, period 8, shift 1 + DeMarker with period 8
Fig.3. TD I, period 8, shift 3 + DeMarker with period 8
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21746
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