IntraDaily Trading with Indicators

Hi, please, what is the best indicator for intradaily trading (scalping?).
Or Trend Reversal Indicators.
Please = Non Repaint Indicators. --thanks


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Posted By michaeloliver : 20 July, 2020
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Double Exponential Moving Average (DEMA) is a smoother and faster Moving average developed with the purpose of reducing the lag time found in traditional moving averages.   DEMA was first time introduced in 1994, in the article "Smoothing Data with Faster Moving Averages" by Patrick G. Mulloy in "Technical Analysis of Stocks & Commodities" magazine.   In this article Mulloy says:"Moving averages have a detrimental lag time that increases as the moving average length increases. The solution is a modified version of exponential smoothing with less lag time.."     DEMA indicator formula     DEMA default period (t) = 21.   DEMA is not just a double EMA.DEMA is also not a moving average of a moving average.   It's a combination of a single + double EMA for a lesser lag than either of the original two.   How to trade with DEMA   DEMA can be used instead of traditional moving averages or the formula can be applied to smooth out price data for other indicators, which are based on moving averages.   DEMA can help to spot price reversals faster, comparing to regular EMA.Such popular trading method as Moving average crossover, will gain a new meaning with DEMA.   Let's compare 2 EMA crossover vs 2 DEMA crossover signals.     DEMA MACD for MT4   Some of Mulloy's original testing of DEMA indicator was done on the MACD, where he discovered that the DEMA-smoothed MACD was faster to respond, and despite producing fewer signals, gave higher results than the regular MACD.     Besides MACD, DEMA smoothing method can be applied to various indicators.   Patrick G. Mulloy says:"..Implementing this faster version of the EMA in indicators such as the moving average convergence/divergence (MACD), Bollinger bands or TRIX can provide different buy/sell signals that are ahead (that is, lead) and respond faster than those provided by the single EMA.."   Another smoothing method developed by Mulloy is known as TEMA, which is a Triple Exponential Moving Average or, yet another Triple EMA version, developed by Jack Hutson - TRIX indicator.

There are a couple of indicators that seem to come under the TDI initials these days. Trend Detection Index (TDI) has been noted along side the Traders Dynamic Index Metatrader Indicator. So when you are looking for a TDI indicator for your next trading system you need to make sure you find and use the correct TDI indicator.   Traders Dynamic Index indicator, is another one of those so called Russian coded indicators that you hear so much about on the forex forums. But the Trend Detection Index seems to be associated with M. H. Pee. So which one is which?   There is however very little real analytical information on TDI whichever indicator you are talking about.   The Trend Detection Index Most sites seem to say…”The TDI can be used as a stand-alone indicator or combined with others; it will perform well in detecting the beginning of trends.”   Its a simple two line indicator. The blue line represents the Trend Detection Index while the red line represents the Direction Indicator. For EOD trading the entries would be as follows:-   Enter long tomorrow at the open if both the TDI and direction indicator are positive after today’s close or enter short at the open if the TDI is positive and the direction indicator is negative.     The Traders Dynamic Index The author provided the trading information for the indicator in the indicator code, which I have replicated below.     Traders Dynamic Index trading rules:-   This hybrid indicator is developed to assist traders in theirability to decipher and monitor market conditions related totrend direction, market strength, and market volatility.   Even though comprehensive, the T.D.I. is easy to read and use.   Green line = RSI Price lineRed line = Trade Signal lineBlue lines = Volatility BandYellow line = Market Base Line   Trend Direction – Immediate and OverallImmediate = Green over Red…price action is moving up.Red over Green…price action is moving down.   Overall = Yellow line trends up and down generally between thelines 32 & 68. Watch for Yellow line to bounces offthese lines for market reversal. Trade long whenprice is above the Yellow line, and trade short whenprice is below.   Market Strength & Volatility – Immediate and OverallImmediate = Green Line – Strong = Steep slope up or down.Weak = Moderate to Flat slope.   Overall = Blue Lines – When expanding, market is strong andtrending. When constricting, market is weak andin a range. When the Blue lines are extremely tightin a narrow range, expect an economic announcementor other market condition to spike the market.   Entry conditionsScalping – Long = Green over Red, Short = Red over GreenActive – Long = Green over Red & Yellow linesShort = Red over Green & Yellow linesModerate – Long = Green over Red, Yellow, & 50 linesShort= Red over Green, Green below Yellow & 50 line   Exit conditions*Long = Green crosses below RedShort = Green crosses above Red* If Green crosses either Blue lines, consider exiting whenwhen the Green line crosses back over the Blue line.   IMPORTANT: The default settings are well tested and proven.But, you can change the settings to fit yourtrading style.   Price & Line Type settings:RSI Price settings0 = Close price [DEFAULT]1 = Open price.2 = High price.3 = Low price.4 = Median price, (high+low)/2.5 = Typical price, (high+low+close)/3.6 = Weighted close price, (high+low+close+close)/4.   RSI Price Line & Signal Line Type settings0 = Simple moving average [DEFAULT]1 = Exponential moving average2 = Smoothed moving average3 = Linear weighted moving average

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