Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Huraian
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thanks to lazy bear for the initial scripting and the below instructions on TDI:
Traders Dynamic Index =============================================================== This hybrid indicator helps to decipher and monitor market conditions related to trend direction, market strength, and market volatility .
TDI has the following components: * Red/Green line = RSI Price line * Gray line = Trade Signal line * Blue lines = Volatility Bands * Orange line = Market Base Line
Trend Direction - Immediate and Overall: ---------------------------------------------------- * Immediate = Green, price action is moving up. Red, price action is moving down.
* Overall = Orange line trends up and down generally between the lines 32 & 68. Watch for Orange line to bounces off these lines for market reversal. Trade long when price is above the Orange line, and trade short when price is below.
Market Strength & Volatility - Immediate and Overall: ---------------------------------------------------- * Immediate = Green/Red Line - Strong = Steep slope up or down. Weak = Moderate to Flat slope.
* Overall = Blue Lines - When expanding, market is strong and trending. When constricting, market is weak and in a range. When the Blue lines are extremely tight in a narrow range, expect an economic announcement or other market condition to spike the market.
Entry conditions: ---------------------------------------------------- * Scalping - Long = Green over Red, Short = Red over Green * Active - Long = Green over Red & Orange lines Short = Red over Green & Orange lines * Moderate - Long = Green over Red, Orange, & 50 line Short= Red over Green, Green below Orange & 50 line
Trend direction is on screen as a red or green X at the bottom of the indicators, colour relevant to long or short.
Exit conditions: ---------------------------------------------------- If Green crosses either Blue lines, consider exiting when the Green/Red line crosses back over the Blue line.