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True Direction Oscillator Demo
This is a Demo version that works only on EURUSD, one-hour chart with full functionality.
- TDO Full version: https://www.mql5.com/en/market/product/12914
- TDO User's Manual: https://www.mql5.com/en/blogs/post/717970
- TDO F.A.Q: https://www.mql5.com/en/blogs/post/722015
- TDO video library: https://www.mql5.com/en/blogs/post/722018
Why demo version
- Try before you buy on live charts, without the MT4 Tester restrictions.
- Try Mobile Notifications and eMail service.
- Try all indicator functions like drawing channels & grids.
TDO is an index that measures the price rate of change using the principle of " Pure Momentum". When a security price advances from 10 to 15 then the price rate of change is 150% but when it declines back from 15 to 10 then the price rate of change is 33.3% only. That is why technical analysis indicators like "Price Rate of Change" (ROC) or "Momentum" gives higher readings for ascending price movements than that given to descending ones. TDO fixes this problem to help traders at reading momentum correctly depending on a simple calculation method.
TDO signals are taken depending on TDO Panel which calculates TDO for 5 different periods at the same time. Only when all periods are in-line the indicator generates a trading signal. By this, it reduces the number of false signals to their lowest number.
TDO can draw different kinds of price channels, A grid of rounded numbers and Supply/Demand Levels. You can also switch easily between different charts and timeframes.
Important TDO Parameters
- First TDO Period [ Min =1 ]: This is the first cycle in the TDO Panel. Default is 10.
2. TDO Colors List & Buttons.
- Chart Colors List: You can choose between four different color lists, or you can choose to (Do Nothing).
3. TDO Arrows & Alert
4. TDO Panel Alert
5. TDO Symbols Buttons
- 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: Get symbols from custom symbol list or from Market Watch.
- List of symbols (separated by ";"): If you choose symbols from a custom list then separate between symbols by ";".
- Buttons in a Horizontal Row [Min=(1)]: Number of buttons to show in a row.
- Time-Frames to Show [Min=(1) & Max=(9)]: Default is seven.
6. TDO Channel
- Channel Kind: Choose between Standard Deviation Channels or Linear Regression Channel.
- Channel Ray: To show the channel as a ray.
- Channel Length: Number of candles used in channel calculation. Default is 160.
7. TDO Grid Lines
- Sub Grid Levels Count: You can add from zero to ten sub levels between main grid levels.
8. Zig Zone Levels
I hope that TDO helps you with your trading.
Please, contact me if you have any questions. I wish you good trading.
Enjoy the game
Muhammad Al Bermaui, CMT
This is a Demo works only on EURUSD, a one-hour chart with full functionality.