Traders Dynamic Index
Overview
The Traders Dynamic Index uses a combination of trend direction, volatility and momentum to determine market conditions. The calculations of the TDI include RSIs, SMAs, EMAs and standard deviation to generate the 5 plots that make up the Traders Dynamic Index.
To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: TDI()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Traders Dynamic Index tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Traders Dynamic Index tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Traders Dynamic Index to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
RSI Bars: Sets the number of bars used in creating the RSI used in the underlying calculation of the Traders Dynamic Index.
RSI Calc Using: Sets the bar value used by the RSI as part of the underlying calculation of the Traders Dynamic Index. The options include O/H/L/C/HL Average/HLC/OHLC/OC/Median.
Volatility Bars: Sets the number of bars used to measure volatility, which is then used in the underlying calculation of the Traders Dynamic Index.
RSI Average Bars: Sets the number of bars used in creating the Exponential Moving Average of the RSI, used in the underlying calculation of the Traders Dynamic Index.
RSI Average Calc Style: Sets the calculation style used in creating the Exponential Moving Average of the RSI, used in the underlying calculation of the Traders Dynamic Index.
TS Average Bars: Sets the number of bars used in creating the Simple Moving Average used in the underlying calculation of the Traders Dynamic Index.
TS Average Calc Style: Sets the calculation style used in creating the Simple Moving Average used in the underlying calculation of the Traders Dynamic Index.
RSI Average: Expands to show the following properties:
- Plot Style - Allows you to change how the TDI RSI Average Line is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Visible: Untick to hide the TDI RSI Average Line from view.
Trade Signal: Expands to show the following properties:
- Plot Style - Allows you to change how the TDI Trade Signal Average Line is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Visible - Untick to hide the TDI Trade Signal Average Line from view.
Market Base: Expands to show the following properties:
- Plot Style - Allows you to change how the TDI Market Base Line is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Visible - Untick to hide the TDI Market Base Line from view.
Volatility Band: Expands to show the following properties:
- Plot Style - Allows you to change how the TDI Volatility Band Lines is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Visible - Untick to hide the TDI Volatility Band Lines from view.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show In Price Scale: When selected the current Traders Dynamic Index values will be displayed in the Price Scale.