MACD TDI V2.6 Indicator (MT4/MT5)
Overview
This indicator implements the logic behind Traders Dynamic Index to the classic MACD Indicator. It helps to find powerful trende changes and ignore meaningless ones. It is simply the classic MACD indicator plotted with volatility bands on top designed with the sole purpose of being able to ignore trend changes that do not follow an over-extension or over-contraction of the market. The indicator alerts on trend changes after the volatility bands have been breached and implements alerts of all kinds. The components of the indicator are the following:
The blue line is the main line
The red line is the signal line
The oscillator is the OSMA to see the trend more clearly
The bands are relative oversold and overbought levels
For position trading
Long if macd changes to uptrend after the main line breaches the lower band
Short if macd changes to downtrend after the main line breaches the upper band
Optional confirmation using the zero level of the oscillator
For scalping
Long if the macd trend is bullish and the main line does not breach the upper band
Shor tif the macd trend is bearish and the main line does not breach the lower band
For momentum trading
Long if the macd changes to uptrend above the upper band but below the zero level
Short if the macd changes to downtrend below the upper band but above the zero level
Optionally, you can use higher timeframes to discard or confirm trades and get better timing.
Does the indicator repaint?
No, it does not.
Does the indicator backpaint?
No, it does not.
Does the indicator implement alerts?
Yes, on oversold/overbought levels and trend changes.
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