True Direction Oscillator
This is a unique oscillator that can help you to identify good entry and exit setups to make quality profit in FOREX Market. Try it for 7 free days before buying it. TDO price as low as possible compared to its high quality features.
How it works:
TDO compare between two distances to identify trend direction and its momentum. It compares the distance between today high and previous close with the distance between today low and previous close. If the first is the greatest it returns it in positive value. If the second is the greatest it returns it in negative value.
- TDO_Style: Choose between 3 different styles to draw TDO on your chart: Dotted – Line-Histogram.
- Candles: Number of candles used in TDO calculation. Default is 100 candles.
- UpColor: TDO histogram color when it read an upside movement.
- DownColor: TDO histogram color when it read a down side movement.
- NeutralColor: TDO histogram color if it read zero. Also it is the color of TDO Line graph.
- LevelColor: Zero level color.
- Show_Paned: Choose between showing TDO All Time Frame Panel and hiding it.
- TDO_Window: Choose between showing TDO All Time Frame Panel in the indicator sub window or in the chart main window.
- Panel_Corner: Choose the corner you want for TDO All Time Frame Panel to appear in.
- TDO don't use moving average of any kind in its calculation so it follows market direction with the least amount of lagging.
- TDO All Time Frame Panel will show you current TDO direction for all time frames on Meta-trader 4 terminal. Buy this you can always make your trades in the direction of the higher time frame wither you are scalper or a swing trader.
- You can switch between three different styles which will give you a better chance to figure proper setups for your trades.
How to use TDO:
- Trend Following: Buy when TDO is above zero line and sell when it's below zero line.
- Reversal: when price candles diverge from TDO go against the current trend to catch the new price swing from the beginning
- Scalping: buy when all arrows of TDO All Time Frame Panel are blue and make your profit for 5 pips (50 point) or less. Sell when all arrows of TDO All Time Frame Panel are red and make profit of 5 pips (50 point) or less.