Traders Dynamic Index Metatrader Indicator

This indicator uses some of the most powerful indicators such as the RSI as well as other types of calculations to determine the trend and momentum of the pairs. In a blink, this indicator gives you the current situation of the pair you put it on and let you know whether we are in a bull or bear situation. Although this indicator can be used standalone, it is advised that you use other confirming indicators together with it. Leading indicators such as fibos and trendlines should do good.

The Indicator Parameters are as follows:

RSI_Period (default = 13) — the period in bars for calculation of RSI

RSI_Price (default = MODE_CLOSE) — the price type to use in RSI calculation

Volatility_Band (default = 34) —the parameter for volatility band calculation. (Can be between 20 and 40. The lower this value is the curvier becomes the band.

RSI_Price_Line (default = 2) — the period of the first moving average (fast)

RSI_Price_Type (default = MODE_SMA) — the type of the first moving average

Trade_Signal_Line (default = 7) — the period of the second moving average (slow)

Trade_Signal_Type (default = MODE_SMA) — the type of the second moving average

UseAlerts (default = false) — if true then sound alert will be played each time red and yellow lines cross

The Sound Alert is always very helpful in any indicator which has it built in because in this way, you do not have to sit like a hawk in front of the chart and keep staring at it, thus straining your eyes more and more.

When to Buy

You can open a BUY position when the following happens:

1. Green line is above red line

2. Both Green and Red line are above Yellow line

3. Yellow line is above 50 (Optional for long term/Must for short-term)

When to Sell

You can open a SELL position when the following happens:

1. Red line is above Green line

2. Both Red and Green lines are below Yellow line

3. Yellow line is below 50 (Optional for long term/Must for short-term)

When NOT to enter a trade

1. Do not enter a trade when the Green/Red lines are outside the Blue Line or very near to it... try to enter the trades as close to the Yellow line as possible.

2. Do not enter trade when the Blue lines (bands) are too narrow as it shows little volatility in the market.

I hope that this indicator help you develop your own trading system and make some more profit from the markets. Please share your researches.

Thank you