TDI RT Indicator
TDI RT Indicator for MT4 Best Non repainting forex trading indicator. Indicates BULLISH and BEARISH price trend with BUY and SELL signals Free to Download
Description
The TDI RT Indicator for MT4 (Trader’s Dynamic Index – Real-Time) is a combination of RSI, Moving average, and Bollinger bands. The TDI is a well-developed system with a long history of application in the forex market. So, the indicator’s ability to identify the BULLISH and BEARISH price trends and provide traders with the best BUY and SELL signals are appreciable.
The indicator works well in all intraday charts and daily, weekly, and monthly price charts. It is suitable for new and advanced forex traders. Furthermore, the indicator is free to download and easy to install.
TDI RT Indicator For MT4 Trading Signals
The above EURUSD H1 chart shows the TDI RT indicator for MT4 in action. The indicator shows the RSI line in GREEN, the Moving average signal line in RED, Bollinger bands in BLUE, and the Market baseline in YELLOW. There are various methods to trade using the indicator.
If the RSI GREEN line and Moving average RED line hits the lower Bollinger bands BLUE line and reverses the direction. Forex traders can place a BUY trade once the GREEN line crosses the RED line upwards. For this trading strategy, the take profit point is the opposite end of the Bollinger band with a stop loss at the previous swing low. The conditions are the same and reverse for SELL trade.
The YELLOW line is the MARKET baseline, it indicates the market trend direction. If the YELLOW line is moving upwards it indicates a BULLISH price trend. On the other hand, the downward movement of the YELLOW line indicates a BEARISH market trend. So for additional confirmation forex traders can BUY if the GREEN LINE is above both the RED and YELLOW lines and target the BOLLINGER BANDS for profits. On the other hand, traders can place a SELL position once the GREEN line is below the RED and YELLOW lines.
The next trading approach is using the DIVERGENCE of the indicator with the price. The divergence of the indicator shows price exhaustion and warrants and exit of an existing position. Another important feature is the TDI angle, the angle between the RED and GREEN lines. A steeper angle between them indicates and stronger trend, while forex traders should avoid trading the signals with lower angles.
To further validate the trading signals traders can draw trendlines and channels within the TDI RT indicator and also find support and resistance levels.
Conclusion
Obviously, the TDI RT indicator for MT4 is the best non-repainting version of the TDI indicator. The indicator works well in trending and ranging markets; however, forex traders must combine price action while using this technical trading strategy. Additionally, traders can download the indicator for free and install it easily.