TDI for mt4 mobile set up is one indicator setup I believe every beginner needs on their Forex journey.
As a beginner I started with indicators. The indicators made the whole beginning process a bearable one. In no time I was already making trades.
Stochastic indicator was a favorite because I was scalping the lower timeframe and that indicator was really doing the job for me.
A month or two later I was already setting up Forex trading Algo on desktop and was becoming more and more familiar with other indicators that were even more reliable.
Then I realized that just trading with price action was all I needed. But it took me some few months before making the switch.
Thus I understand the need to begin your Forex journey with indicators as your guide. And I will be helping you with one indicator I believe is better than the stochastic when trading on mt4 mobile.
The TDI for mt4 mobile is a custom indicator set up and this is because it is not installed in the mobile trading software like others like stochastic, RSI, etc.
You will have set it up yourself and this is exactly what this post would be teaching you.
Setting Up The TDI For Mt4 Mobile Indicator
TDI actually stands for Traders Dynamic Index and it is one indicator that can really help you with your trading as a beginner.
The TDI as a technical indicator can help you read the market sentiment, market volatility, and momentum at the same time.
And it is actually easy to set up once you learn how to.
Let’s get started.
- The first indicator to apply to your chart is the RSI indicator. Set the period to “13” with the RSI color set to your background color or just don’t apply any color if you can.
- The next indicator to apply to your chart is a Moving Average. Set the period to “2”, method to “Simple”, and then apply it to “First Indicator’s Data” and make that line Green.
- Insert another Moving Average indicator unto your chart. This time set the period to “7”, the method to “Simple”, and apply it to “First Indicator’s Data” and make that line Red.
- Insert the Bollinger Bands indicator with the period set to “34” with a deviation of “1.618”, and change the shift from “0” to “1”, then apply it to “Previous Indicator’s Data” and set that line to Blue.
- Insert one more Moving Average again unto your chart and set the period to “34”, the method to “Simple”, and apply it to “Previous Indicator’s Data” and set that line to Yellow.
And that is it. When your insert all those indicators onto your chart. Together they will form the TDI for mt4 mobile indicator.
And it would look like this.
Let us describe how the TDI for mt4 mobile works.
- Bollinger Bands: This indicator displays the increasing and decreasing volatility in the market.
- The RSI and 2 Period MA: The 2 period moving average (green line) and the RSI indicator represents the market sentiment. Showing if the market sentiment is negative or positive.
- The Yellow MA (34 Period): It shows the overall direction of the market. And can also serve as your baseline.
How To Trade With It
When the red moving average crosses the yellow moving average to the (1) upside, you have an uptrend. When it crosses below you have a downtrend.
When the green moving average crosses above or below the red MA, that is a signal to enter trade.
When the green is above the red and the red is above the yellow, that is a strong buy signal.
When the green crosses below the red and the red is below the yellow, that is a strong sell signal.
When both the green and red moving averages (MA) bounces of the Bollinger band. With the green crossing above or below the red MA. That should serve as an entry as well.
But as a beginner you should stick with the green and red MA crossing above or below the yellow moving average before entering trades.