Traders Dynamic Index (TDI) Indicator for ThinkorSwim

BenTen

Administrative
Staff
VIP
The Traders Dynamic Index (TDI) is a plot to 2 smoothed RSIs on a overbought / oversold grid with a Bollinger Band (with mid-line) of unsmoothed RSI. The basics are that a signal occurs when the less-smoothed RSI line crosses the more-smoothed RSI line. Reversals are possible near overbought / oversold values, especially near the edges of the Bollinger Band.



thinkScript Code

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index   
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
plot RSI1 = smRSI1;
RSI1.SetDefaultColor(Color.GREEN);
RSI1.SetLineWeight(2);
RSI1.SetStyle(Curve.FIRM);
RSI1.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI1.HideBubble();
RSI1.HideTitle();

# RSI2---2nd smoothed RSI---------------------------------------
plot RSI2 = smRSI2;
RSI2.SetDefaultColor(Color.CYAN);
RSI2.SetLineWeight(2);
RSI2.SetStyle(Curve.FIRM);
RSI2.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI2.HideBubble();
RSI2.HideTitle();

#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;           
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

plot BBmidline = Average(RegRSI, BBlength);
BBmidline.SetDefaultColor(Color.CYAN);
BBmidline.SetLineWeight(5);
BBmidline.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
BBmidline.SetStyle(Curve.FIRM);
BBmidline.HideBubble();
BBmidline.HideTitle();

BBmidline.AssignValueColor(if BBmidline < BBmidline [1] then Color.VIOLET else (if BBmidline == BBmidline [1] then Color.LIME else Color.LIME));

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.WHITE);
uBBline.SetStyle(Curve.LONG_DASH);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.WHITE);
lBBline.SetStyle(Curve.LONG_DASH);
lBBline.SetLineWeight(1);
lBBline.HideBubble();
lBBline.HideTitle();

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

plot OB = 68; # OverBought
plot ML = 50; # Mid-Line
plot OS = 32; # OverSold

OB.SetStyle(Curve.FIRM);
OB.SetDefaultColor(Color.VIOLET);
OB.SetLineWeight(1);
#OB.HideBubble();
OB.HideTitle();

ML.SetStyle(Curve.LONG_DASH);
ML.SetDefaultColor(Color.WHITE);
ML.SetLineWeight(3);
#ML.HideBubble();
ML.HideTitle();


OS.SetStyle(Curve.FIRM);
OS.SetDefaultColor(Color.LIGHT_GREEN);
OS.SetLineWeight(1);
#OS.HideBubble();
OS.HideTitle();

#---------------------------------------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#---------------------------------------------------------------------------

AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
then 1 else 0, "--- UP ? ---", Color.YELLOW, Curve.LONG_DASH);

AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================

Shareable Link

https://tos.mx/xfUH6Xl
Credit:
 

tomsk

Well-known member
VIP
I am not a coder but would love to get rid of the vertical lines with up? and dn?

@poparhon Per your request here is that same study, after removing the vertical lines specific code

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index   
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
plot RSI1 = smRSI1;
RSI1.SetDefaultColor(Color.GREEN);
RSI1.SetLineWeight(2);
RSI1.SetStyle(Curve.FIRM);
RSI1.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI1.HideBubble();
RSI1.HideTitle();

# RSI2---2nd smoothed RSI---------------------------------------
plot RSI2 = smRSI2;
RSI2.SetDefaultColor(Color.CYAN);
RSI2.SetLineWeight(2);
RSI2.SetStyle(Curve.FIRM);
RSI2.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
RSI2.HideBubble();
RSI2.HideTitle();

#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;           
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

plot BBmidline = Average(RegRSI, BBlength);
BBmidline.SetDefaultColor(Color.CYAN);
BBmidline.SetLineWeight(5);
BBmidline.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
BBmidline.SetStyle(Curve.FIRM);
BBmidline.HideBubble();
BBmidline.HideTitle();

BBmidline.AssignValueColor(if BBmidline < BBmidline [1] then Color.VIOLET else (if BBmidline == BBmidline [1] then Color.LIME else Color.LIME));

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.WHITE);
uBBline.SetStyle(Curve.LONG_DASH);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.WHITE);
lBBline.SetStyle(Curve.LONG_DASH);
lBBline.SetLineWeight(1);
lBBline.HideBubble();
lBBline.HideTitle();

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

plot OB = 68; # OverBought
plot ML = 50; # Mid-Line
plot OS = 32; # OverSold

OB.SetStyle(Curve.FIRM);
OB.SetDefaultColor(Color.VIOLET);
OB.SetLineWeight(1);
#OB.HideBubble();
OB.HideTitle();

ML.SetStyle(Curve.LONG_DASH);
ML.SetDefaultColor(Color.WHITE);
ML.SetLineWeight(3);
#ML.HideBubble();
ML.HideTitle();


OS.SetStyle(Curve.FIRM);
OS.SetDefaultColor(Color.LIGHT_GREEN);
OS.SetLineWeight(1);
#OS.HideBubble();
OS.HideTitle();

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================
 

Albert Washington

New member
VIP
Question: I am a new member of "use think script" as of 12-17-20. Do
you use/illustrate the Trader Dynamic Index (TDI) indicator for better entry and exit?
 

Albert Washington

New member
VIP
Thanks for the above information from Roboforex.com, but they do not work in the territory of the USA.
Therefore, they could not service me.
 

TomC

New member
Added Brake out Signals and colors for light TOS background.



Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index 
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

declare lower;
input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------

input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#----------------------------------------------
# PLOTS---------------------------------------------------------------
#----------------------------------------------

# RSI1---1st smoothed RSI----------------------------------------
plot RSI1 = smRSI1;
RSI1.SetDefaultColor(Color.DARK_GREEN);
RSI1.SetLineWeight(3);
RSI1.SetStyle(Curve.LONG_DASH);
RSI1.SetPaintingStrategy(PaintingStrategy.LINE);
RSI1.HideBubble();
RSI1.HideTitle();

# RSI2---2nd smoothed RSI---------------------------------------
plot RSI2 = smRSI2;
RSI2.SetDefaultColor(Color.red);
RSI2.SetLineWeight(2);
RSI2.SetStyle(Curve.FIRM);
RSI2.SetPaintingStrategy(PaintingStrategy.LINE);
RSI2.HideBubble();
RSI2.HideTitle();

#----------------------------------------------
# Bollinger Bands of RSI ----------------------
#----------------------------------------------

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;         
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

plot BBmidline = Average(RegRSI, BBlength);
BBmidline.SetDefaultColor(Color.CYAN);
BBmidline.SetLineWeight(4);
BBmidline.SetPaintingStrategy(PaintingStrategy.LINE);
BBmidline.SetStyle(Curve.FIRM);
BBmidline.HideBubble();
BBmidline.HideTitle();

BBmidline.AssignValueColor(if BBmidline < BBmidline [1] then Color.bLUE else (if BBmidline == BBmidline [1] then Color.DARK_ORANGE else Color.dARK_ORANGE));

#----------------------------------------------
# Upper and Lower Bollinger Bands-------------
#----------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
plot uBBline = BBmidline + BBsdMult * SDBB;

uBBline.SetDefaultColor(Color.LIGHT_GRAY);
uBBline.SetStyle(Curve.FIRM);
uBBline.SetLineWeight(1);
uBBline.HideBubble();
uBBline.HideTitle();

# Lower Line of Bollinger Band---------------------------------
plot lBBline = BBmidline - BBsdMult * SDBB;

lBBline.SetDefaultColor(Color.LIGHT_GRAY);
lBBline.SetStyle(Curve.FIRM);
lBBline.SetLineWeight(1);
lBBline.HideBubble();
lBBline.HideTitle();

#----------------------------------------------
# GRID----------------------------------------
#----------------------------------------------

plot OB = 68; # OverBought
plot ML = 50; # Mid-Line
plot OS = 32; # OverSold

OB.SetStyle(Curve.FIRM);
OB.SetDefaultColor(Color.red);
OB.SetLineWeight(1);
#OB.HideBubble();
OB.HideTitle();

ML.SetStyle(Curve.LONG_DASH);
ML.SetDefaultColor(Color.GRAY);
ML.SetLineWeight(1);
#ML.HideBubble();
ML.HideTitle();


OS.SetStyle(Curve.FIRM);
OS.SetDefaultColor(Color.DARK_green);
OS.SetLineWeight(1);
#OS.HideBubble();
OS.HideTitle();

#----------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#----------------------------------------------

AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
then 1 else 0, "--- UP ? ---", Color.ORANGE, Curve.LONG_DASH);

AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#----------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#----------------------------------------------

AddCloud (RSI2, BBmidline, Color.lIGHT_GRAY, Color.YELLOW);

#----------------------------------------------
#----------- RSI Brakeout Signal Added by Tom C.
#----------------------------------------------

input showBreakoutSignals = yes;

plot UpSignal = if RSI1 crosses above ML then ML else Double.NaN;
plot DownSignal = if RSI1 crosses below ML then ML else Double.NaN;

UpSignal.SetHiding(!showBreakoutSignals);
DownSignal.SetHiding(!showBreakoutSignals);

UpSignal.SetDefaultColor(Color.UPTICK);
UpSignal.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

DownSignal.SetDefaultColor(Color.DOWNTICK);
DownSignal.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);

# END ======================================

Shareable Link​

http://tos.mx/fEdleFw
 
Last edited:

BenTen

Administrative
Staff
VIP
@KYLEM0990 Use the version below:

Code:
# LS_TradersDynamIcIndex_long
# Traders Dynamic Index   
# 2 smoothed RSIs Plotted on OverBought / OverSold Grid
# with Bollinger Band of unsmoothed RSIs

input averageType = {default SMA, EMA};

# RSI (Relative Strength Index)====================

input Period = 13;
def RegRSI = reference RSI(Period);

# Compute 2 smoothed (by averaging) RSIs------------------
# 2 Smoothers--------------------------------------------------------
input sm1 = 2; # 1st RSI smoother
input sm2 = 7; # 2nd RSI smoother

# 1st smoothed RSI--------------------------------------------------
# Either ----------------------------------------------------------------
# (1) a simple averaging (SMA) or -------------------------
# (2) an exponential averaging (EMA)---------------------

def smRSI1 = if averageType == averageType.SMA then Average(RegRSI, sm1 ) else ExpAverage(RegRSI, sm1);

# 2nd smoothed RSI------------------------------------------------
# Either ---------------------------------------------------------------
# (1) a simple averaging (SMA) or ---------------------
# (2) an exponential averaging (EMA)-----------------

def smRSI2 = if averageType == averageType.SMA then Average(RegRSI, sm2) else ExpAverage(RegRSI, sm2);

# So far we have:
# 1. RegRSI = RSI
# 2. smRSI1 = 1st smoothed RSI, smoother = 2
# 3. smRSI2 = 2nd smoothed RSI, smoother = 7

#--------------------------------------------------------------------------
# PLOTS---------------------------------------------------------------
#---------------------------------------------------------------------------


# RSI1---1st smoothed RSI----------------------------------------
def RSI1 = smRSI1;

# RSI2---2nd smoothed RSI---------------------------------------
def RSI2 = smRSI2;


#============================================
# Bollinger Bands of RSI=========================
#============================================

# Length of Bollinger Averaging---------------------------------
input BBlength = 34;           
# Width of Bollinger Band in Standard Deviations----------
input BBsdMult = 1.62;
# Mid-line for the Bollinger Band of the RegRSIs -----------

def BBmidline = Average(RegRSI, BBlength);

#--------------------------------------------------------------------------
# Upper and Lower Bollinger Bands---------------------------
#---------------------------------------------------------------------------

# Standard Deviation of unsmoothed RSIs-------------------
def SDBB = StDev(RegRSI, BBlength);

# Upper Line of Bollinger Band----------------------------------
def uBBline = BBmidline + BBsdMult * SDBB;

# Lower Line of Bollinger Band---------------------------------
def lBBline = BBmidline - BBsdMult * SDBB;

#--------------------------------------------------------------------------
# GRID-----------------------------------------------------------------
#--------------------------------------------------------------------------

#plot OB = 68; # OverBought
#plot ML = 50; # Mid-Line
#plot OS = 32; # OverSold

plot bullish = if RSI1 > BBmidline and RSI1[1] <= BBmidline then low else double.nan;
plot bearish = if RSI1 < BBmidline and RSI1[1] >= BBmidline then high else double.nan;

plot bull = bullish;
bull.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bull.SetDefaultColor(Color.CYAN);
bull.SetLineWeight(1);
plot bear = bearish;
bear.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bear.SetDefaultColor(Color.CYAN);
bear.SetLineWeight(1);

#---------------------------------------------------------------------------
# Add Vertical Line when RSI1 crosses BBmidline-----------
#---------------------------------------------------------------------------

#AddVerticalLine (if RSI1 > BBmidline and RSI1[1] <= BBmidline
#then 1 else 0, "--- UP ? ---", Color.YELLOW, Curve.LONG_DASH);

#AddVerticalLine (if RSI1 < BBmidline and RSI1[1] >= BBmidline
#then 1 else 0, "--- DN ? ---", Color.VIOLET, Curve.LONG_DASH);

#---------------------------------------------------------------------------
# Cloud between RSI2 and BBmidline-------------------------
#---------------------------------------------------------------------------

#AddCloud (RSI2, BBmidline, Color.WHITE, Color.YELLOW);

# END ======================================
 

iSultan

New member
VIP
Is there any watchlist or scan for signal for this indicator . I do love it so much
thank you Ben for sharing .
 

Similar threads

Top