5e_StochTDI
script to blend stoch rsi and tdi.
the red/green arrows at the bottom indicate price direction and the red/green x indicate a bullish or bearish crossover (see below for full instructions).
used with the stoch to confirm direction and movement you have an 123 step guide =
1 - stoch curl up/down
2 - price direction up/down
3 - trend direction up/down
personally i find this best on the higher tf 4h upwards as lower can give too many signals.
thanks to lazy bear for the initial scripting and the below instructions on TDI:
Traders Dynamic Index
===============================================================
This hybrid indicator helps to decipher and monitor market conditions related to trend direction, market strength, and market volatility .
TDI has the following components:
* Green line = RSI Price line
* Red line = Trade Signal line
* Blue lines = Volatility Bands
* Orange line = Market Base Line
Trend Direction - Immediate and Overall:
----------------------------------------------------
* Immediate = Green over Red...price action is moving up.
Red over Green...price action is moving down.
* Overall = Orange line trends up and down generally between the lines 32 & 68. Watch for Orange line to bounces off these lines for market reversal. Trade long when price is above the Orange line, and trade short when price is below.
Market Strength & Volatility - Immediate and Overall:
----------------------------------------------------
* Immediate = Green Line - Strong = Steep slope up or down.
Weak = Moderate to Flat slope.
* Overall = Blue Lines - When expanding, market is strong and trending. When constricting, market is weak and in a range. When the Blue lines are extremely tight in a narrow range, expect an economic announcement or other market condition to spike the market.
Entry conditions:
----------------------------------------------------
* Scalping - Long = Green over Red,
Short = Red over Green
* Active - Long = Green over Red & Orange lines
Short = Red over Green & Orange lines
* Moderate - Long = Green over Red, Orange, & 50 lines
Short= Red over Green, Green below Orange & 50 line
Exit conditions:
----------------------------------------------------
If Green crosses either Blue lines, consider exiting when the Green line crosses back over the Blue line.
* Long = Green crosses below Red
* Short = Green crosses above Red
the red/green arrows at the bottom indicate price direction and the red/green x indicate a bullish or bearish crossover (see below for full instructions).
used with the stoch to confirm direction and movement you have an 123 step guide =
1 - stoch curl up/down
2 - price direction up/down
3 - trend direction up/down
personally i find this best on the higher tf 4h upwards as lower can give too many signals.
thanks to lazy bear for the initial scripting and the below instructions on TDI:
Traders Dynamic Index
===============================================================
This hybrid indicator helps to decipher and monitor market conditions related to trend direction, market strength, and market volatility .
TDI has the following components:
* Green line = RSI Price line
* Red line = Trade Signal line
* Blue lines = Volatility Bands
* Orange line = Market Base Line
Trend Direction - Immediate and Overall:
----------------------------------------------------
* Immediate = Green over Red...price action is moving up.
Red over Green...price action is moving down.
* Overall = Orange line trends up and down generally between the lines 32 & 68. Watch for Orange line to bounces off these lines for market reversal. Trade long when price is above the Orange line, and trade short when price is below.
Market Strength & Volatility - Immediate and Overall:
----------------------------------------------------
* Immediate = Green Line - Strong = Steep slope up or down.
Weak = Moderate to Flat slope.
* Overall = Blue Lines - When expanding, market is strong and trending. When constricting, market is weak and in a range. When the Blue lines are extremely tight in a narrow range, expect an economic announcement or other market condition to spike the market.
Entry conditions:
----------------------------------------------------
* Scalping - Long = Green over Red,
Short = Red over Green
* Active - Long = Green over Red & Orange lines
Short = Red over Green & Orange lines
* Moderate - Long = Green over Red, Orange, & 50 lines
Short= Red over Green, Green below Orange & 50 line
Exit conditions:
----------------------------------------------------
If Green crosses either Blue lines, consider exiting when the Green line crosses back over the Blue line.
* Long = Green crosses below Red
* Short = Green crosses above Red
Versionsinformation:
testing scripting