Only works on time based charts. No tick, range, or volume. Change offset and width to match your particular instrument and risk tolerance.
This is about the conceptual more than the actual. The line in the sand. Pick any line you want. Draw them manually. There is nothing magical about the hourly open. Change your computer clock to be off by 20 minutes. Does this concept then suddenly stop working?
September 7th, 2009
Size: 8.51 KB
Downloaded: 855 times
129
websouth
This does a pretty good job of showing cycles and when to enter and exit staying on the right side of trend. Don't trade against the yellow line. Take trades with the red/green crosses. Blue coming together is bollinger concept showing a move should happen soon...
The Traders Dynamic Index is a trend following momentum indicator based on the RSI. It was developed and presented by Dean Malone. The Traders Dynamic Index comes with the following ingredients
- the Priceline, which is a SMA(2) of RSI(13)
- the Signalline, which is a SMA(7) of RSI (13)
- the Midband, which is a SMA(34) of RSI (13)
- BollingerBands around the SMA(34) using 1.62 StdDev
Combine some of the following rules to trade:
- go long, if Priceline > 50
- go short if Priceline < 50
- consider an exit, if Priceline is above 68 or below 32
- go long if Priceline > Signalline
- go short if Priceline < Signalline
- exit if Priceline crosses Signalline
- trendfilter long, when Priceline > Midband
- trendfilter short, when Priceline < Midband
- add to long, when Priceline > BollingerBand.Upper
- add to short, when Priceline < BollingerBand.Lower
Detailed rules how to use the Traders Dynamic Index have been published by Dean Malone within the framework of the E.A.S.Y. trading method.
Update March 22, 2014: Overbought and oversold lines added.
A comprehensive but helpful indicator that uses RSI (Relative Strength Index), its moving averages, and volatility bands (based on Bollinger Bands) to offer traders a full picture of the current market situation.
Input parameters
RSI_Period (default = 13) period in bars for calculation of RSI. Recommended range is 14 or 21.
RSI_Price (default = PRICE_CLOSE) price type to use in RSI calculation.
Volatility_Band (default = 34) period in bars for volatility bands calculation. Recommended range is between 20 and 40. The lower the value the more sensitive the band.
StdDev (default = 1.6185) standard deviation multiplier for volatility bands. It is not recommended to change this parameter.
RSI_Price_Line (default = 2) period of the first moving average (fast) of RSI.
RSI_Price_Type (default = MODE_SMA) type of the first moving average of RSI.
Trade_Signal_Line (default = 7) period of the second moving average (slow) of RSI.
Trade_Signal_Type (default = MODE_SMA) type of the second moving average of RSI.
For scalping, enter long when the green line is above the red line and enter short when the red line is the above green line.
For short-term trading, enter long when the green is above both the red and the yellow lines; enter short when the red one is above both the green and the yellow ones.
For medium-term trading, go long under the same conditions as for the short-term trading but only when all lines are below 50; to go short the same but above 50.
Mind the blue volatility band as it points to the long-term trend strength and volatility when wide. Steep green line changes also signal short-term market volatility.
March 2nd, 2016
Size: 7.50 KB
Downloaded: 1374 times
1713
TropicalRecon
Version 1.2 September 16, 2017
The Traders Dynamic Index (TDI) is a trend following momentum indicator based on the RSI. It was developed and presented by Dean Malone. The Traders Dynamic Index comes with the following plots
- the Priceline, which is a SMA(2) of RSI(13)
- the Signalline, which is a SMA(7) of RSI (13)
- the Midband, which is a SMA(34) of RSI (13)
- Bollinger Bands around the SMA(34) using a standard deviation multiplier of 1.62
The following combinations may be considered as trade rules:
- go long, if Priceline > 50
- go short if Priceline < 50
- consider an exit, if Priceline is above 68 or below 32
- go long if Priceline > Signalline
- go short if Priceline < Signalline
- exit if Priceline crosses Signalline
- trendfilter long, when Priceline > Midband
- trendfilter short, when Priceline < Midband
- add to long, when Priceline > upper Bollinger Band
- add to short, when Priceline < lower Bollinger Band
Detailed rules how to use the Traders Dynamic Index have been published by Dean Malone within the framework of the E.A.S.Y. trading method.
April 22nd, 2010
Size: 139.34 KB
Downloaded: 737 times
428
PiCoTrader
Places trade targets ruler on chart and calculates risk/reward/position sizing for trade planning, review and management, using Van Tharp style Risk based position sizing
Setting Lines:
- Middle mouse button click above/below any bar shows ruler for long/short respectively
- Shift-Middle mouse button sets entry line
- Control-Middle mouse button sets stop line
- Alt-Middle mouse button sets target line
Moving Lines:
- Lines can be selected and moved separately
- CTRL-ALT locks line relationships. Moving one line moves all lines together
- CTRL-ALT again unlocks line relationships
Clearing lines:
- The same key combination on a displayed line, erases that line
- Middle mouse button click on vertical line of the displayed ruler, erases the ruler.
- Control-Alt-Shift Middle mouse button erases all lines
- Unlimited stops and targets are allowed
If no entry/stop/target lines are explicitly set, then they are defaulted to high/low/close of the associated candle.
...
To change position sizing calculations:
- Change AcctSize, AcctRisk, and FixedShares user parameters
- or specify them in the line input boxes on the chart as follows:
100 => means trade a fixed size of 100 shares/contracts
$100 => means max stop loss size is $100
2% => means risk only 2% of AcctSize
March 18th, 2019
Size: 160.40 KB
Downloaded: 369 times
2048
logindejavu27
this is pretty simple one that i pasted together in easy language a while back and i find it useful for tracking the 24 hour midpoint --- i added some other lines/zones (previous ohlc) etc... but these can be modified in the code for whatever you want projected from the midpoint ---
i am new to ninja and was wondering if there was any recommendations for ninja script consultants that do quality work but price was reasonable for recoding this and other indicators to ninja --- any recommendations appreciated.
thanks
i attached a picture of part of the indicator -- you will have to go under style and set it to your own liking...
September 8th, 2009 10:54 AM Saroj What do I do to turn off all those arrows? I've tried every boolean parameter in the indicator with no luck. http://sc
reencast.com/t/YRrRfXiKWSyG
September 8th, 2009 09:24 AM Saroj scratch all that... I don't know where I got the idea that CurrentHourOHL.cs was needed... I've tried to apply all your
templates and must have got confused with another one... thanks for updating your description.
September 8th, 2009 04:12 AM max-td Thanks a lot for your great template-ideas+ also for the link of the needed indicator. Thats always important + avoids l