Realised RSI and TDI Alert Dashboard

RSI and TDI Alert Dashboard

The RSI / TDI alert dashboard allows you to monitor RSIs at once (selectable by you) on every major pair you trade.


You can use it in two ways:

1. Select multiple time frames and the dash will show you when there are multiple time frames extended beyond normal trading conditions. A great indicator that price has pushed hard recently as it has achieved an overbought or oversold level across multiple time frames so a pullback or reversal is due soon.

2. Use one time frame (your favourite to trade) and multiple RSI levels to show you the strength of the extension of RSI on that time frame. This is a great strategy for taking mean reversion trades when price has pushed very hard in one direction for too long and the market is due a profit take move. In the example screenshot you can see the H4 RSI is extended on 2 pairs beyond the 25 level which is much further than typical price action so a good opportunity to go long.

The dashboard will alert you to extended conditions (overbought and oversold) at levels of your choice when a candle closes on the chosen time frame. You can have 6 seperate RSIs monitored at once. Each one you can select the time frame, type and overbought and oversold levels for independently.

MT5 VERSION AVAILABLE HERE: https://www.mql5.com/en/market/product/66307

You can see instantly the condition of any currency pair and selct those that look ready for a pullback or reversal. Alerts on the dashboard show in the relevant colour to indicate whether it is a good buy (green) or sell (red) opportunity. You can also select which time frames to receive alerts on independently so if you just want to enter when M15 is extended you can select to only recive alerts for that time frame.

The dashboard is designed to sit on it's own chart with no other indicators and can be put on any pair or timeframe. It is designed to simply sit in the background and just alert you every time an RSI of your choosing gets to the levels of your choice.

Why is it called the RSI / TDI Dashboard?

The TDI is a popular indicator and used by many traders including those that follow Steve Mauro (BTMM) who uses it consistently. The signal line in the TDI is actually just an RSI line set to Median price and this dashboard allows you to mimic the TDI line almost exactly. This means you can use it to monitor potential shark fin entries in line with that strategy.



https://clubbingbuy.com/threads/rsi-and-tdi-alert-dashboard-mt5.6821/

 

Would like to have the MT4 version