Traders dynamic index is a Metatrader indicator that uses RSI (Relative Strength Index), its moving averages and volatility bands (Bollinger Bands) to offer traders a full picture of the current market situation.
- Shows the volatility bands
- Draws the price momentum
The traders dynamic index indicator, or TDI, is used by both professional and new traders alike. The main idea behind this indicator is to display, in a single window, the entire market situation. Therefore, the indicator can be used to detect the trend and the volatility in the market, but alsd to spot trade entries and exits. By using this indicator one might not need to use any other indicators to help understand the (next) price movement.
In the EA's settings, the trader can adjust the RSI, the volatility bands and the moving average type.
You can download this Metatrader indicator free from here.