Concealing Lines and Levels for a Cleaner Panel Experience

christianmonteverde

Hello, I am currently utilizing the TDIPro indicator and would like guidance on optimizing its settings for improved signal quality with less frequency. Currently, the indicator is generating an excessive number of signals. Additionally, is it possible to hide the lines and levels on the panel without compromising signal quality??

https://clickalgo.com/traders-dynamic-index

Mike

Hi, Christian, we will contact the vendor to help you with this question.

cAlgoBuddy

Dear Christian,

Could you please share on what timeframe you use the indicator and what are your settings?

Regarding the levels, if you refer to the level lines, you can safely change the color or simply remove them from the indicator settings, there wouldn't be any change for the signals.

Just keep in mind that you should change the levels and then save a template, because if you load the indicator anew it will have the default settings.

Looking forward to your reply

christianmonteverde

Hello, okay, thank you. Yes, I have integrated your indicator with ADX Advanced, so I have removed the levels of TDIPro since I follow those of ADX. I am using Renko charts, scalping 10 points up to 20/30 points for indices such as Nasdaq or DAX.

P.S. At the moment, I am using the default settings.

cAlgoBuddy

Hello again,

You can refine which signals to receive, by switching the signals on/off (like divergences, you get these from ADX) and also selecting Yes to the "Show Only Stronger Signals". Please take a look at the user guide, and if some signal description is not clear, ask.

I believe for scalping you would mainly need the MBL crosses to see the general direction of the trend and then use the ADX for entries.

christianmonteverde

I am trying to strengthen these signals, perhaps by attempting to find the best parameters. If I select only strong signals, it doesn't show anything; maybe I should change some parameters like RSI period, deviation, etc. That's why I was asking if there are specific parameters recommended for intraday or non-fast scalping. For what type of trading are the default parameters set?

cAlgoBuddy

Hello,

The default parameters are set to what is believed to be a generic setting that can be applied to every pair/index/timeframe that there is and can give an overall market sentiment and trend.

Trying to have fine-tuned settings for specific pairs/indexes and for specific timeframes/periods is not something that I can provide, this would the job of the trader. You can play with the settings as much as you like and you can find something that works better for you.

Personally, I use the regular candlesticks in order to look at price action and I have not a lot of experience in Renko charts.

For your chart above, my take without knowing anything about what pair is this or what renko range, the signals that you have in circle would be the initial shorting signal, but for me the confirmation is the MBL cross.

christianmonteverde

Thank you, I am aware that I need to find the best settings based on the asset used and my method. It's already helpful to know that those signals are initially short, and the confirmation can be seen from MBL; I didn't find this information in the description, and these details are very useful to know for a better interpretation. Thank you.
P.S. Additional observations are welcome ;-)

cAlgoBuddy

Again, everything is up to the trend. The "initial short" signals, in a strong uptrend market, can be interpreted as profit taking/price retracement, and the trend continues up (this might be seen with a divergence), so the MBL cross might not happen/the RSI could bounce off the MBL line.

christianmonteverde

Okay, thank you. One last question, what do you suggest if I want to anticipate the MBL signal with the current settings? I've tried adjusting the Volatility Band parameters, but I only get a delayed result. Thank you.

cAlgoBuddy

If you want a "faster" MBL cross, you should lower the RSI period (8) as well as the RSI Price MA Period to 1. Also, Price MA and Signal MA should be set to Simple.

I don't recommend these settings, as they will generate more noise.