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FOREX indicator Traders Dynamic Index

indicator Traders Dynamic Index

Traders Dynamic Index MetaTrader Indicator - dynamic index trader's complex, but useful indicator that uses RSI (Relative Strength Index) and moving averages, along with its own method of calculating the volatility for to offer the trader a complete picture of the current situation on the forex market. This indicator can be used for audible signals alert the trader.

Inputs:

  • RSI_Period (default = 13) - between the bars to calculate the RSI.

  • RSI_Price (default = MODE_CLOSE) - type of prices to calculate the RSI.

  • Volatility_Band (default = 34) - a parameter for the calculation of the channel (band) volatility. Can be from 20 to 40. The lower the number, the winding channel.

  • RSI_Price_Line (default = 2) - for the first time the moving average (fast).

  • RSI_Price_Type (default = MODE_SMA) - type of the first moving average.

  • Trade_Signal_Line (default = 7) - During the second moving average (slower).

  • Trade_Signal_Type (default = MODE_SMA) - type of the second moving average.

  • UseAlerts (default = false) - if true, the sound will be played every time a yellow cross and red lines.

traders dynamic index

At first glance, this indicator is not so easy to use, but it can be used. When scalping enter into a long position when the green line above the red line, and - in short, when the red line above the green line. In the short-term trading enter long positions when the green - over the red and yellow, in short, when the red - the green and yellow. In the medium-term trade long entry under the same conditions as in the short term, but only when all lines are below 50, for short positions - as above 50. Look for the blue channel of volatility, which indicates the overall strength of the market when it is wide. Abrupt changes in the green line signal on the short-term market volatility.

TradersDynamicIndex.mq4

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