Bromley

TDI - Traders Dynamic Index [Goldminds]

Published just for Goldminds members .
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//
// @author LazyBear
// If you use this code in its orignal/modified form, do drop me a note. 
// 
// Modified by Bromley

study("TDI - Traders Dynamic Index [Goldminds]", shorttitle="TDIGM")

rsiPeriod = input(11, minval = 1, title = "RSI Period")
bandLength = input(31, minval = 1, title = "Band Length")
lengthrsipl = input(1, minval = 0, title = "Fast MA on RSI")
lengthtradesl = input(9, minval = 1, title = "Slow MA on RSI")

src = close                                                             // Source of Calculations (Close of Bar)
r = rsi(src, rsiPeriod)                                                 // RSI of Close
ma = sma(r, bandLength)                                                 // Moving Average of RSI [current]
offs = (1.6185 * stdev(r, bandLength))                                  // Offset
up = ma + offs                                                          // Upper Bands
dn = ma - offs                                                          // Lower Bands
mid = (up + dn) / 2                                                     // Average of Upper and Lower Bands
fastMA = sma(r, lengthrsipl)                                            // Moving Average of RSI 2 bars back
slowMA = sma(r, lengthtradesl)                                          // Moving Average of RSI 7 bars back

hline(30)                                                               // Oversold
hline(50)                                                               // Midline
hline(70)                                                               // Overbought

upl = plot(up, "Upper Band", color = blue)                              // Upper Band
dnl = plot(dn, "Lower Band", color = blue)                              // Lower Band
midl = plot(mid, "Middle of Bands", color = orange, linewidth = 2)      // Middle of Bands

plot(slowMA, "Slow MA", color=green, linewidth=2)                       // Plot Slow MA
plot(fastMA, "Fast MA", color=red, linewidth=2)                         // Plot Fast MA

fill(upl, midl, red, transp=90)                                         // Fill Upper Half Red
fill(midl, dnl, green, transp=90)                                       // Fill Lower Half Green

Comments

Can you provide guidance about how best to use this indicator and the various signals it gives off?
+117 Reply
Can you provide guidance about how best to use this indicator and the various signals it gives off? It seems incredibly responsive to price action.
+74 Reply
PM
+29 Reply
Help Can you provide guidance about how best to use this indicator and the various signals it gives off? thanks
+20 Reply
Genial
+20 Reply
Thank you
+13 Reply
this thing repainted on me somehow.....
+6 Reply
Gunslinger2005 Imperial_Peak
@Imperial_Peak, this kind of thing cannot repaint.... but if you take trades before candles close... the signal might become negated. all these indicators you gotta let the candles close
Reply
Hi question. What does the middle orange band represent? Is it an SMA? I find it to be the most helpful
Reply
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