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The Simple TDI Breakout Trading Strategy is currently available for free download. Among forex traders, the TDI (Traders Dynamic Index) indicator is one of the most popularly utilized bespoke technical indicators. The indication condenses a lot of data into a single indicator. It features a function similar to the Bollinger Bands that enables traders to spot oversold and overbought market conditions on a dynamically moving line that can also be used as a barrier or support. It is shown on a specific range, making it possible to determine whether the market is oversold or overbought depending on that range. Additionally, it contains an RSI line that tracks price movement and a crossover signal line made from a moving average.The TDI is one of the most comprehensive technical indicators available to all forex traders because to these features.
All timeframes and currency pairs respond favorably to the simple TDI Breakout forex trading strategy.
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How does the Simple TDI Breakout Trading Strategy work in trading?
This forex trading method combines a breakout or breakdown from resistance or support with an entry signal based on the TDI indicator. This approach should also have a greater success rate because it combines a widely used price action strategy with a clear indication.
The addition of the 200 EMA (Exponential Moving Average) will help you further filter trades and more easily determine the market’s direction. Only long trade setups are considered when the price is above the 200 EMA.
Buy (Long) Trade Setup
Entry
- Price should be over the 200 EMA (brown)
- there must be resistance as price retraces down (green)
- Price should break and close over the resistance line
- TDI: the RSI line (green) should cross over the Signal line (red)
- Open a buy entry at the close of the candle with all of the above rules
Stop Loss
Set your stop loss at the entrance candle’s swing low.
Take Profit
Set the trade stop loss at 1.5 times the take profit.
Sell (Short) Trade Setup
Entry
- The price has to be below the 200 EMA (brown)
- A support line can be identifiable as the price goes back up (green)
- Price has to break and close below the resistance line
- TDI: the RSI line (green) should cross below the Signal line (red)
- At candle closure, using the intersection of the aforementioned rules, enter a sell market order.
Stop Loss
Stop losing at the swing high above the entering candle.
Take Profit
The take profit should be set at 1.5 times the risk on the stop loss.
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 | No Minimum Deposit ECN Acount No Commission | |
 | Min Deposit of 20$ |
How do you install and download an indicator?
You must take the following actions in order to install the TDI indicator on your MT4:
01.Use the “Download Indicator” link at the article’s bottom.
02.On your PC, save the file.
03.In the MT4>Indicator folder in the MT4 software file location, extract and relocate the files.
04.Start up the Metatrader platform again.
05.Go to “Indicators.”
06.And to apply it to the chart, choose the “Simple TDI Breakout Trading Strategy” template.
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