The indicator is drawn as two lines and a histogram:
TD Index – the trend index;
Direction – trend direction line;
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.
TDI-2_Cloud_HTF - indicator MetaTrader 5 The TDI-2 indicator with the timeframe selection option available in input parameters: input ENUM_TIMEFRAMES TimeFrame=PERIOD_H4;Â Â // Indicator chart period (timeframe) The…
TDI-2 BARS - indicator MetaTrader 5 The indicator changes the bar color to the color of the current trend calculated based on the TDI-2 custom indicator.…
TDI-2 - indicator MetaTrader 5 The real author: forexsystems The indicator "The Trend Detection Index" is a changed TDI indicator. With stable and expressed growing…
