Once you see the tool in action, you will quickly start to see the benefits it provides. Whether you trade by scalping, short or medium term, the Traders Dynamic Index can be interpreted in accordance with your own strategy.
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 you are in a bullish or bearish 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 well.
What The Colors Represent
- Dark Blue Lines show the strength of the current trend.
- Yellow Line shows the direction of the trend.
- Red Line displays the slower Moving Average.
- Green Line displays the slightly faster Moving Average.
When to Buy
- You can open a BUY position when the following happens:
- Green line is above red line.
- Both Green and Red lines are above Yellow line.
- 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:
- Red line is above Green line.
- Both Red and Green lines are below Yellow line.
- Yellow line is below 50 (Optional for long term/Must for short term).
When NOT to Enter a Trade
- Do not enter a trade when the Green/Red lines are outside the Blue Line or very near to it. Try to enter the trade as close to the Yellow line as possible.
- Do not enter a trade when the Blue lines (bands) are too narrow, as it shows little volatility in the market.
- RSI Period: 8-25 – RSI Period (Default 13);
- RSI Price – Applied Price for RSI (Default Close Price);
- Volatility Band: 20-40 – Volatility band (recommended values between 20-40) (Default 34);
- Standard Deviations: 1-3 –
- RSI Price Line – Period for RSI Price Line (Default 2)
- RSI Price Type – RSI Price Type.
- Trade Signal Line – Period for Trade Signal Line (Default 7)
- Signal Bar – Select which signal will show you. On current bar or after close trade bar.
- Enable Pop-Up Alerts – Show Pop alerts on the chart.
- Enable Email Alerts – Email alerts. For email, you have to configure the email setting on your terminal properly.
- Enable Push Alerts – Push alerts on your mobile. you have configured a push notification on your mobile to get alerts.
- Enable Sound Alerts – Enable sound alert.