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Published:
2018.06.06 12:59
TDI.mq5 (16.09 KB)view

The indicator is drawn as two lines and a histogram:

  1. TD Index - the trend index;
  2. Direction - trend direction line;
  3. Signal - trade direction histogram.

It has two parameters:

  • Period - calculation period;
  • Applied price - price used for calculations.

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 Software Corp.
Original code: https://www.mql5.com/ru/code/20323

POB POB

Point of Balance (POB).

DSP DSP

Detrended Synthetic Price (DSP) Oscillator

Trend_Percentage Trend_Percentage

Trend_Percentage - the ratio of bulls and bears.

Unsmoothed_RSI Unsmoothed_RSI

The unsmoothed RSI indicator.