Overview
The TDU Devils bands are dynamic bands that widen and shrink depending on the volatility of the market. The centerline uses a McGinley Line instead of a plain moving average. The advantage of the McGinley line is that it adjusts itself in relation to the speed of the market. This is exactly where a normal moving average fails. For example, how can one know when to use a 10,20 or 50 moving average in a slow or fast market. The McGinley was built to automatically adjust to the current speed of the market and so proves to be a much more adaptable and useful tool to utilize.
Starting with the McGinley line at the center of the bands, the upper and lower bands are by default placed at a distance of 1-ATR (you can change this to any other ATR distance you like). Price often reverses when it reaches a distance of 1-ATR from the mean. So the upper and lower bands are ideal spots to start looking for trade opportunities.
Key Features
- Trend following and Trend reversals
- ATR based upper and lower bands
- McGinley center line
- Slope color
- Fully customizable
- Works on timeframe
- Works on any market (futures, forex, crypto, stock, options, etc)
- Works on any bartype (time,tick,volume,range, renko, etc...)
Changelog
08-03-2021 v1.0.02
- fixed issue where gridlines disappeared when the indicator was added to the chart
Terms
We offer a 100% free 5-day trial of all our indicators allowing you to test our software before buying it. Since you are able to test all our software before buying it all sales are final and non-refundable!
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