TD_I - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The TD_I indicator (Thomas DeMark indicator) is Thomas R. DeMark's modified version of the standard DeMarker indicator.
The value range is from 0.0 to 100.0 instead of the standard 0.0-1.0. Additionally, offset is introduced: instead of comparing the high/low of the current bar with the high/low of the previous bar, the indicator uses the high/low of the current bar and the high/low price of the bar with a given offset, which allows to filter out the noise.
There are four input parameters:
TD_I = 100.0 * high average / (high average + low average)
Where:
HighAvg = SMA(HighDiff, period) LowAvg = SMA(LowDiff, period) HighDiff = High - High[Shift] LowDiff = low[Shift] - low
Figure 1. TD I, cycle 8, shift 1
Figure 2. TD I, cycle 8, shift 1 + DeMarker, cycle 8
Figure 3. TD I, cycle 8, shift 3 + DeMarker, cycle 8
Attachment download
📎td_i.mq5 (10.58 KB)
Source: MQL5 #21746
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