The TDI indicator for MT5 is one of the most powerful technical indicators for financial trading that provides holistic insight into market trends. It is a versatile indicator that helps traders identify trends, market momentum, and potential entry/exit zones in the market.
The indicator combines components of the Relative Strength Index (RSI), the Bollinger Bands, and the moving averages for making analysis. By combining these components, the TDI defines and displays the prevailing market direction and volatility with precision.
Features of the TDI Indicator for MT5
The TDI indicator stands on a separate window below the chart. Typically, it has two lines, which depict the market volatility and provide buy/sell signals. A buy signal is when the green line crosses above the red, while a sell signal is when the green line crosses below the red.
Furthermore, the indicator works across multiple time frames, providing broader insights on market trends unique to each time frame. Additionally, the indicator’s parameters are customizable, which makes it suitable for different traders.
Benefits of Using the TDI Indicator for MT5
- Trend Identification: The indicator makes a comprehensive trend analysis using moving averages and RSI components, providing traders with the prevailing market trends.
- Enhanced Decision-Making: The TDI indicator assists Forex traders in making objective trading decisions by providing insight into the market’s trend, volatility, and optimal buying/selling zones.
- Optimized Buy and Sell Entries: The TDI indicator provides clear-cut buy and sell signals for optimal trade entries. Therefore, it would benefit beginners and advanced traders to make informed trade entries/exits.
Indicator Settings Description
The indicator comes with the following customizable settings:
Period: Determines the RSI calculation period of the indicator.
Applied price: Determines the RSI applied price for trend analysis.