OPEN-SOURCE SCRIPT
TDI 7 MA and HISTOGRAM

TDI %K Histogram with 7 MA
Overview
This indicator enhances trend and momentum analysis using the %K line from the Traders Dynamic Index (TDI), combined with a 7-period moving average (MA) and a histogram.
How It Works
The script calculates %K (similar to Stochastic RSI), representing the relative price position within a given range.
A 7-period Simple Moving Average (SMA) is applied to smooth the %K line, reducing noise and improving trend clarity.
A histogram is plotted based on the difference between %K and the 7-period MA:
Green bars indicate that %K is above the 7-period MA, suggesting bullish momentum.
Red bars indicate that %K is below the 7-period MA, suggesting bearish momentum.
Key Features
-%K Line (Blue) – Reflects short-term momentum shifts.
-7-period MA (Purple) – Helps smooth out fluctuations in %K for better trend identification.
-Histogram (Green/Red Columns) – Highlights momentum shifts visually.
Overbought (68), Midpoint (50), and Oversold (32) Levels – Provides reference points for potential reversals or trend continuation.
How to Use
Bullish Confirmation: When the histogram turns green and %K is above the 7 MA, it suggests upward momentum.
Bearish Confirmation: When the histogram turns red and %K is below the 7 MA, it suggests downward momentum.
Overbought/Oversold Conditions: Use the 68 and 32 levels as potential reversal zones, but always confirm with price action.
Midpoint (50 Level): Acts as a dynamic support/resistance area for momentum shifts.
This indicator is suitable for trend-following and momentum-based trading strategies, whether on lower timeframes for scalping or higher timeframes for swing trading.
Try it out and integrate it with your trading system to refine your entries and exits!
Overview
This indicator enhances trend and momentum analysis using the %K line from the Traders Dynamic Index (TDI), combined with a 7-period moving average (MA) and a histogram.
How It Works
The script calculates %K (similar to Stochastic RSI), representing the relative price position within a given range.
A 7-period Simple Moving Average (SMA) is applied to smooth the %K line, reducing noise and improving trend clarity.
A histogram is plotted based on the difference between %K and the 7-period MA:
Green bars indicate that %K is above the 7-period MA, suggesting bullish momentum.
Red bars indicate that %K is below the 7-period MA, suggesting bearish momentum.
Key Features
-%K Line (Blue) – Reflects short-term momentum shifts.
-7-period MA (Purple) – Helps smooth out fluctuations in %K for better trend identification.
-Histogram (Green/Red Columns) – Highlights momentum shifts visually.
Overbought (68), Midpoint (50), and Oversold (32) Levels – Provides reference points for potential reversals or trend continuation.
How to Use
Bullish Confirmation: When the histogram turns green and %K is above the 7 MA, it suggests upward momentum.
Bearish Confirmation: When the histogram turns red and %K is below the 7 MA, it suggests downward momentum.
Overbought/Oversold Conditions: Use the 68 and 32 levels as potential reversal zones, but always confirm with price action.
Midpoint (50 Level): Acts as a dynamic support/resistance area for momentum shifts.
This indicator is suitable for trend-following and momentum-based trading strategies, whether on lower timeframes for scalping or higher timeframes for swing trading.
Try it out and integrate it with your trading system to refine your entries and exits!
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.