Watch how to download trading robots for free

Find us on Facebook!
Join our fan page

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

TDI.mq5 (16.09 KB) view

: Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

The indicator is drawn as two lines and a histogram:

It has two parameters:

Possible interpretation of the indicator

If the histogram points upwards, buying is preferred; if downwards — selling is preferred.
The intersection of the TD Index and Direction lines, intersection of Direction and zero, as well as a change in direction can also be a signal to open a position in the direction indicated by the histogram.
If trading implies opening of counter-trend positions (trading on rollbacks), then a change in the line direction counter to the histogram direction can serve as a signal to open a counter-trend position.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20323

POB

Point of Balance (POB).

DSP

Detrended Synthetic Price (DSP) Oscillator

Trend_Percentage

Trend_Percentage - the ratio of bulls and bears.

Unsmoothed_RSI

The unsmoothed RSI indicator.

TDI - indicator for MetaTrader 5