Jdawg TDI with Shark Fins

27 мая 2023 г.

The "Jdawg TDI with Shark Fins" (JTDI Shark Fins) is a visually enhanced version of the Traditional Traders Dynamic Index (TDI) that focuses on aiding traders in identifying potential trading opportunities in any market.

At its core, the TDI is a momentum-based indicator that uses the Relative Strength Index (RSI) in combination with moving averages to highlight potential overbought and oversold conditions, which could signal opportunities to buy or sell. In simple terms, when an asset is overbought, it could be due for a price drop, and when it's oversold, the price might soon rise.

What makes the JTDI Shark Fins unique is the addition of color-coded "Shark Fins". These are key moments when the Fast Moving Average (Fast MA) or Slow Moving Average (Slow MA) lines move outside the upper or lower Bollinger Bands (the blue lines).

When a line moves outside these bands, it's often an indication that the price is making a strong move in that direction. However, because these moments are typically short-lived, they're referred to as "Shark Fins". In the JTDI, these periods are marked with color changes:

Fast MA turns purple when it forms a "Shark Fin". This line typically responds quicker to price changes.
Slow MA turns red when it forms a "Shark Fin". This line is slower to react to price changes, providing a more steady view of the market's momentum.
Additionally, the Slow MA will turn orange when it exceeds the overbought (above 70) or oversold (below 30) thresholds, indicating strong momentum in that direction.

How to Use:

When the Fast MA (black line) turns purple (indicating a Shark Fin), it's a warning signal to pay attention as a potential significant price move might be occurring.
If the Slow MA (green line) turns red, it indicates a more sustained move in the price direction is happening.
An orange Slow MA indicates a very strong price move in that direction.
Use these signals in conjunction with other aspects of your trading strategy to confirm potential trading opportunities.

Market Suitability:

The beauty of the JTDI Shark Fins indicator is its versatility. It can be applied to any market that can be charted and where price movements create periods of overbought or oversold conditions. This includes but is not limited to Forex, Cryptocurrencies, Equities (stocks), Commodities, and even Indices.

Remember, while this indicator can provide valuable insights, it should not be used in isolation. Always consider other factors like market news, economic indicators, and other technical analysis tools when making trading decisions.

30 сент. 2023 г.

Информация о релизе

Revision Description for Jdawg TDI with Shark Fins Indicator:
In this update, we've introduced a significant enhancement to the existing Jdawg TDI with Shark Fins Indicator to improve its usability and flexibility for traders.

Key Enhancement:

Midline Display Option: Users now have the option to display a Midline on the TDI indicator chart. The Midline is calculated as the average of the Upper and Lower Bands of the TDI. This Midline serves as a central reference point, providing traders valuable insights for identifying potential market reversals or the continuation of trends.
How to Use the New Feature:

Midline Toggle: A new input option titled "Show Midline?" has been added to the indicator's settings. Users can simply toggle this option to either show or hide the Midline on the chart. By default, the Midline is set to display (true).
Visual Element: When enabled, the Midline is plotted as a yellow line on the chart, providing clear visibility and contrast against the other elements of the TDI for easy reference.
Technical Details:

The Midline is computed as the average of the Upper and Lower Bands: (Upper Band + Lower Band) / 2.
Conditional plotting has been implemented to ensure the Midline is only displayed when the user opts to enable the "Show Midline?" setting.
Conclusion:
This revision enhances the versatility of the Jdawg TDI with Shark Fins Indicator by providing traders with additional valuable visual cues to aid in market analysis and trading decision-making. We believe this update will bring significant value to the TradingView community and encourage users to explore and utilize the new feature!

6 окт. 2023 г.

Информация о релизе

Update Description:

We're excited to bring an updated version of the "Jdawg TDI with Shark Fins" indicator with enhanced features and improved accuracy:

Fast and Slow MA Corrections:

The default values for Fast and Slow Moving Averages (MAs) have been swapped for intuitive usage and understanding. Now, the Fast MA is truly "faster" (default period of 2), and the Slow MA is "slower" (default period of 7).
Visual Enhancement:

The color schemes for Fast and Slow MAs have been updated for clearer visual interpretation:
Fast MA: Red for Shark Fins, Orange for Overbought/Oversold, and Green otherwise.
Slow MA: Purple for Shark Fins and Black otherwise.
Improved User Interface:

Users can easily toggle the Midline display with a simple input option.
How to Use:
The indicator highlights significant market conditions for traders:
Shark Fins: Occur when Fast or Slow MA crosses the upper or lower bands.
Overbought/Oversold: Noted when Slow MA is above 70 (Overbought) or below 30 (Oversold).
The color-coded MAs provide visual cues for market analysis:
Fast MA turns red for Shark Fins, orange for Overbought/Oversold, and green otherwise.
Slow MA turns purple for Shark Fins and remains black in other conditions.
Final Notes:
This update aims to provide an intuitive and user-friendly experience with accurate market insights. For any questions or further clarification, feel free to reach out.

Happy Trading!

11 нояб. 2023 г.

Информация о релизе

In this latest update to our TDI (Trader's Dynamic Index) indicator with Shark Fins, we've introduced an important enhancement - the addition of a midline at the RSI (Relative Strength Index) 50 level.

What is the RSI 50 Midline?

The RSI 50 level is widely recognized as a key indicator of market neutrality. When the RSI is above 50, it generally indicates a bullish market trend, while an RSI below 50 suggests a bearish trend. The 50 level itself is considered neutral, signifying a potential balance between buying and selling pressures.

Why This Update?

Enhanced Clarity: By adding a midline at the RSI 50 level, we provide a clearer visual reference for traders to quickly identify the market’s neutral state.

Improved Decision-Making: This midline serves as an additional tool for traders to assess market conditions, aiding in more informed trading decisions.

Visually Pleasing and Intuitive: We chose a visually appealing color and style for the midline, ensuring it stands out without overwhelming other important details on your chart. Specifically, we've used a light blue, dash-dot pattern for the midline, striking a balance between visibility and subtlety.

This update is part of our ongoing efforts to enhance the functionality and usability of our indicators, helping you to make more informed trading decisions.