TDI Direction Change Indicator
TDI Direction Change Indicator is an oscillator indicator which identifies the market entry point for placing trades by taking into consideration the values of RSI (Relative Strength Index), Trade Signal Method and Market Base Method.
The parameters used for indicator calculation are:
- RSI Period – 13 bars
- RSI Price - Close price
- RSI Signal Period – 2 bars
- RSI Signal Method – Simple
- Trade Signal Period – 7 bars
- Trade Signal Method – Simple
- Market Base Period – 34 bars
- Market Base Method – Simple
- Arrow Size – 1 , Size of Up and Down arrow can be reset.
- Up Arrow Color – Yellow, the color of Up arrow can be reset.
- Down Arrow Color – Aqua, the color of Down arrow can be reset.
TDI Direction Change Indicator identifies the change in direction for market movement.
It has the following features:
- It provides the feature of keying in the values for RSI, Trade Signal Method and Market Base Method.
- It draws a line in the separate window.
- It displays the Up arrow when downward trend is about to start.
- It displays the Down arrow when upward trend is about to start.
2. Change in the appearance of the indicator on the chart.