Traders_Dynamic_Index - MetaTrader 5 Script - MT4/MT5 Resources

The Trader Dynamic Index Oscillator defines and displays trend direction as well as market power and volatility.

The indicator has 11 customizable parameters:

explain :

In general:
When the green RSI line crosses the red line, it indicates a bullish market. When the green RSI line is below the red RSI line, it indicates a bearish market.

Basic market line:
It is recommended to trade when the line is within the range of overbought to oversold levels. When the market baseline approaches the range boundary, a change in trend direction is expected.

Fluctuation zone:
When the market is active quickly, the channel widens - trade in the direction of the RSI and signal lines. Ranges will narrow during periods of quiet, consolidation, waiting for news, etc. If the range remains in a tight range for an extended period of time, expect prices to rise strongly and start to fluctuate.

Attachment download

📎 traders_dynamic_index.mq5 (19.87 KB)

Source: MQL5 #22777