Bromley

TDI - Traders Dynamic Index [Goldminds]

Published just for Goldminds members.
Remove from Favorite Scripts Add to Favorite Scripts
//
// @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
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.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out