True Direction Oscillator Parameters & F.A.Q

True Direction Oscillator Parameters & F.A.Q

19 October 2018, 20:49
Muhammad Elbermawi
1
270

True Direction Oscillator Parameters & F.A.Q


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For all our happy customers who bought TDO version 5, you can have your /// FREE /// copy from MASR Bands signed specially for you with your name on it.INBOX for more details.

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  1. Buy TDO from Here: https://www.mql5.com/en/market/product/12914
  2. Add you review as a happy customer + 5 stars
  3. Inbox me with your name in English to code your copy from MASR Bands

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In this blog I will explain in details all True Direction Oscillator (TDO) parameters. Keep in mind that TDO is a 5 in 1 indicator, so it have a lot of useful features to help traders in their trading decisions. Lets begin.

TDO Parameters Map

Link for User's Manual: https://www.mql5.com/en/blogs/post/717970

Product Link: https://www.mql5.com/en/market/product/12914


1) TDO Style Settings.

  • First TDO Period [Min =1 / Max = 10]: This the first cycle in TDO Panel. From this parameter TDO Panel calculate the next four cycles. Each cycle is double the previous one in size.Example: If the first cycle is 3 then the next four cycles will be (6-12-24-48).
          If First TDO Period is less than one or more than ten TDO will be terminated, alert message will pop up on the screen and this parameter will be reset to default (=10).
  • Max. Candles to Draw [Min = 161]: number of bars or candles used in TDO calculations. Default is 1000 candles. If this parameter is less than 161 or more than bars on the chart, TDO will be terminated, alert message will pop up on the screen and this parameter will be reset to default (=1000).
  • TDO Width: Default is three.
  • TDO Line Color: Default is White.
  • TDO Bullish Color: Default is Blue.
  • TDO Bearish Color: Default is Red.
2) Arrows Alert & e-Mail Settings.
  • Show or Hide Arrows: Default is true.
  • Alert on New Arrow: Default is true.
  • Send e-Mail on New Arrow: Default is false.
  • Send Notification on New Arrow: Default is false.
3) Panel Alert & e-Mail Settings
  • Alert when TDO Panel is in line: Run or stop alert when all five parameters is in line with each other. Default is true.
  • Send e-Mail TDO Panel is in line: Default is false.
  • Send Notification TDO Panel is in line: Default is false.
4) Buttons Style Settings
  • Button Back Color – Normal: Background color for all buttons when they are not selected. Default is Gainsboro.
  • Button Back Color – Selected: Background color for all buttons when they are selected, to separate them from deselected buttons. Default is Light Sky Blue.
  • Text color: The color of text on the button. Default is Black.
  • Chart in Foreground: This option if true will set chart candles in front of objects on the chart window. Default is false.
5) Symbol Changer Inputs
  • Window to Show Symbols Panel: Show Symbol Buttons in Main chart window or in TDO Window.
  • Button Click Action: Open chart on the same window or in a new window.
  • Symbols Source from: You can get symbols from a "Custom Symbol List" that you prepare by yourself or from the "MT4 Market Watch".
  • List of symbols (separated by ";"): If you choose symbols from "Custom Symbol List" then when you write your own list separate between symbols by ";".
          Like this: AUDUSD; NZDUSD; XAUUSD
          Your list can be made from any number of symbols you want to, but it should not be less than one symbol.
          By default, TDO symbol list is made of the main 28 FOREX pairs with standard symbols.
  • Buttons in a Horizontal Row [Min= (1)]: the number of buttons to show in a row should be more than one. By default, it is seven.
  • Time-Frames to Show [Min= (1) & Max= (9)]: The number of time-frame buttons to show should not be less than one or more than nine. By default, it is seven.
6) Channel Button Settings
  • Channel Kind: Choose between Standard Deviation Channels or Linear Regression Channel.
  • Channel Ray: To show the channel as a ray. Default is false.
  • Channel Length: Number of candles used in channel calculation. Default is 40.
  • Draw Channel as Background: User can add color to the background of the channel. Default is false.
  • Channel Lines Width: Default is two.
  • Inner Deviation Channel Multiplier: Default is one. Price will stay with in the inner standard deviation channel 65% of the time.
  • Outer Deviation Channel Multiplier: Default is two. Price will stay with in the inner standard deviation channel 95% of the time. So, if price candles break outside this limit then there is a great chance that it will revert to the mean, but if it didn't then a new trend might have begun.
  • Inner Channel Color: Default is Red.
  • Outer Channel Color: Default is Blue.
7) Grid Button Settings
  • Sub Grid Levels Count: User can choose between:
         a) Not to add any sub grid levels.
         b) One level to cut the distance between each two main grid levels by 50%.
         c) Four level to cut the distance between each two main grid levels by 25%.
         d) Five level to cut the distance between each two main grid levels by 20%.
         e) Ten level to cut the distance between each two main grid levels by 10%.
  • Main Grid Levels Color: Default is Salmon.
  • Sub Grid Levels Color: Default is Maroon.
  • Main Grid Levels Style: Default is Dot.
  • Sub Grid Levels Style: Default is Dash Double Dot.
8) Zig Zone Button Settings
  • Zig Depth: Default is 13.
  • Zig Deviation: Default is 8.
  • Zig Back-step: Default is 5.
  • Zig Resistance Color: Default is Maroon.
  • Zig Support Color: Default is Navy.
  • Zig Label Color: Default is White.
  • Zig Label Width: Default is one.

At the next section from this blog I will  add answers to frequently asked questions about TDO.

=======================================================================================

For all our happy customers who bought TDO version 5, you can have your /// FREE /// copy from MASR Bands signed specially for you with your name on it.INBOX for more details.

=======================================================================================

  1. Buy TDO from Here: https://www.mql5.com/en/market/product/12914
  2. Add you review as a happy customer + 5 stars
  3. Inbox me with your name in English to code your copy from MASR Bands

==============================================================================

TDO F.A.Q


1# Does TDO repaint?

TDO do not repaint, and buy / sell arrows stay fixed to where they appeared for the first time.


2# What is the best time frame to apply TDO on it?

You can apply TDO on any time frame you want.

As a general rule, the higher the time frame the more reliable technical analysis tools is.


3# I have another PC and I want to add TDO on it, should I repurchase TDO?

You do not need to, because TDO have 1000 activation limit. Which mean that you can activate it on any number of PCs you want.


4# What indicator(s) would you recommend if I took a "Swing Trading" approach with Forex Trading?

For swing trading you can use:

  1. True Direction Oscillator (TDO) with MASR Bands.
  2. Bermaui Deviation Percent (BD%) with Bermaui Bands.


I bought Bermaui Bands - TDO and I got MASR bands from yours. Can you please give a small hint or idea that which combination can be used for Good setup?

I use TDO + MASR Bands as described in the manual, here: https://www.mql5.com/en/blogs/post/717970

TDO generate trading signals.
MASR Bands is used to define Targets and Stop loss.

===========================================
I use Bermaui Deviation Percent with Bermaui Bands, because they are designed to work with each other.
.
You can read Bermaui Bands Manual from here:
https://www.mql5.com/en/blogs/post/718688
.
You can read BD% Manual and study trading examples from here:
https://www.mql5.com/en/blogs/post/718182
===========================================

As a general rule higher time frames (like H4-Daily) generate better technical analysis trading signals.

Trail your stop loss to minimize loss and increase profitability.

Use a series of lot size from 5 even numbers like this:
0.01 - 0.03 - 0.05 - 0.07 - 0.09

Take your first trade with 0.05 (the number at the center of the series).
If you lose, next one should be 0.07.
If you lose, next should be 0.09.
If you lose, return to 0.05
If you win, then next lot should be 0.03.
If you win, again go to 0.01.
If you win, go to 0.05 and repeat moving from the middle of the series toward its edges.

Trading is a kind of art and I do not recommend using Experts at trading.


5# I just want to get an Expert Advice that will be lot helpful?

I will tell you something interesting, most of people are so afraid to click Buy/Sell Buttons. They do not want to carry responsibility for their trading decisions. They want someone to blame for their losses, & that is why they buy experts and follow signal accounts.

If you were following my steps here on MQL5 then you will notice that I deleted all my Experts from the market, because I do not believe that the market can be beaten by a piece of code.

I am trading manually since January 2017 & I did it, so why not everybody else.


6# I wanted to test TDO but I don't see this indicator when i test it on MT4?

If you are testing a small time frame like 5 minutes and the system test chart look like the one attached, then look at the Journal and you will find a message that warn you of data limits.

You can solve this problem by:

  1. Downloading more data.
  2. Narrow system test range. (make it one month or so).
  3. Decrease (Max Candle to Draw) parameter. (500 as an example).


7# TDO signals over 5 minutes are not good. Need more settings?

As a general rule: The higher the time frame the more accurate technical analysis tools are. That is why you will find legend traders (like Peter Brandt, Alexander Elder...etc.) trade the daily, weekly & monthly charts.

Intraday charts volatility moves in cycles. You can see those cycles clearly by adding a volatility indicator like ATR to an hourly chart. Take a look at the EURUSD hourly chart and you will see the 24-hour volatility cycle very clear.

If you trade a 5-minute chart through a volatile time period, then you might have good signals. But if you trade low volatility time periods it will be hard to catch a clear trend.

TDO do its best to filter momentum bad signals depending on TDO Panel, but this will not force the market to move in trend.


8# Hi Muhammad, Usually I trade on 4 hrs. What is the best indicator you have developed for such period?

  • You can use TDO on any time frame.
  • Try to follow the higher time frame.
  • If you trade H4 then take your trades when signals appear at the direction of TDO on Daily chart.
  • Buy when TDO H4 signal appears & TDO Daily is above zero line.
  • Sell when TDO H4 signal appears and TDO Daily is below zero line.
  • Here is an example on GBPNZD:


9# Thanks Muhammad for the TDO Manual; I will check it and any doubt I will contact you.
Meantime I'd like to know the following:

1. There is any advisable schedule to get the best results with the TDO indicator?... in high volatility maybe?

2. By now I am testing the TDO in a Demo account; if the results I get in the Demo is satisfactory for me then I will use it in my real account. Then my question is: could I change the TDO installation from my Demo to my real account in the future?

3. In which time-frame is more efficient the TDO indicator? I am a scalper and operate in 5 and 15 minutes preferably.

4. Do you have any EA? I am interested in a "News EA", it must be efficient and not complicated to operate it.

That´s all by now, please answer me.

1. I encourage you for what you do. Trying any tool on a demo account before real trading is a correct step.

2. TDO is about momentum not volatility. The Martingale Panel will filter weak momentum from the strong one. If momentum is strong then trend is healthy.

3- If you scalp with TDO then I suggest to move with the higher time frame. If you scalp 5 minutes, then follow TDO on one hour. If you scalp 15 minutes then follow TDO on four hours or daily chart. These will increase your success rate.

4- Use the Channels and the Grid to find support and resistance, so you can identify your take profit & stop loss.

5- TDO works on any time frame. As a general rule the higher the time frame the better the results of technical analysis tools like TDO. So always begin your analysis from top to bottom.

6- I don't use EAs anymore. I even deleted all my EAs from the market, because I do not believe that we can get control on the market depending on a piece of code, even if it looks too smart and intelligent.

I hope I have answered your questions and do not forget to read the manual to catch the basic idea. (I will update soon).


10# I'm looking at your software; which one you recommend I can begin to use for live trading. or which one combined?

Here is my suggestion for you
.............................................
1//- If you trade momentum indicators then-->True Direction Oscillator (TDO) + MASR Bands
TDO link:
https://www.mql5.com/en/market/product/12914
.............................................
2//- If you trade volatility breakouts then--> Bermaui Deviation Percent (BD%) + Bermaui Bands (BB)
BD% link:
https://www.mql5.com/en/market/product/24174
BB link:
https://www.mql5.com/en/market/product/16251
.............................................
Please read manuals first to take your decision.


11# Hello. How to make that signals come to me on a mobile phone?

Set parameter Notification parameters to (True).

follow instruction as written here:
https://www.metatrader4.com/en/trading-platform/help/setup/settings_notifications


12# What is the win ratio in those indicator?

  • Win Ratio is for systems... An indicator is not a system but it can be a part of it.
  • According to my trading results, the Profit Factor is 1.75... This mean that I win $1.75 to each dollar that I loss.


13# Is it possible to use TDO with BD% on the same chart?

From a technical point of view, we should be careful when we mix two indicators at the same window, because sometime this lead to erroneous results.

TDO is an oscillator alternative to Momentum. Its purpose is to fix an error at momentum equation, which result with what is known as "Pure Momentum".

To know more please read TDO Manual from here: https://www.mql5.com/en/blogs/post/717970

BD% is an oscillator that measure volatility in percent rather than points. Its main purpose is to measure volatility of the trend, then scale it between zero and 100 percent.

To know more please read BD% Manual from here: https://www.mql5.com/en/blogs/post/718182

Both indicators have different purpose. So, if you want to mix them at the same widow you should at least make them both with the same cyclical period. So, you have to make BD% at 160 candles to match

TDO, or to decrease TDO first period to 3 (last will be 48).

I already have two indicators on MQL5 that mix BD% with other oscillators. Those indicators are:

  1. PZO: https://www.mql5.com/en/market/product/15359
  2. VZO: https://www.mql5.com/en/market/product/15460


14# I am trying to activate the product but it doesn't work. Need help.

  1. Go to MT4 Terminal.
  2. Click CTRL+T
  3. Choose Market
  4. Select TDO then Download


That is all for now.

I hope you read those F.A.Q about TDO because they will help you to understand it much better.

If you have any other question outside this group then inbox me and I will answer you as soon as I am online.

I wish everybody green pips.

Regards

Muhammad Al Bermaui, CMT

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