QuantitativeExhaustion

True Strength Indicator MTF

Here is an example of a script showing a multi-time frame of TSI.

Chart below compares FX EURUSD Daily TSI to 1H TSI

Here is an updated version

study("True Strength Indicator MTF", shorttitle="TSI MTF")
resCustom = input(title="Timeframe", type=resolution, defval="60" )
long = input(title="Long Length", type=integer, defval=25)
short = input(title="Short Length", type=integer, defval=13)
signal = input(title="Signal Length", type=integer, defval=13)
price = close
double_smooth( src , long, short) =>
fist_smooth = ema ( src , long)
ema (fist_smooth, short)
pc = change(price)
double_smoothed_pc = double_smooth(pc, long, short)
double_smoothed_abs_pc = double_smooth(abs(pc), long, short)
tsi_value = 100 * (double_smoothed_pc / double_smoothed_abs_pc)
tsi = security(tickerid, resCustom,tsi_value)
plot(tsi, color=black)
plot( ema (tsi, signal), color=red)
hline(0, title="Zero")
Skript med en öppen källkod

I sann TradingView-anda har författaren till detta skript publicerat det som öppen källkod, så att handlare kan förstå och verifiera det. Skål för författaren! Du kan använda den gratis men återanvändning av den här koden i en publikation regleras av våra Ordningsregler. Du kan göra den till favorit för att använda den i ett diagram.

Vill du använda det här skriptet i ett diagram?
study("True Strength Indicator MTF", shorttitle="TSI MTF")
resCustom = input(title="Timeframe", type=resolution, defval="60" )
long = input(title="Long Length", type=integer, defval=25)
short = input(title="Short Length", type=integer, defval=13)
signal = input(title="Signal Length", type=integer, defval=13)
price = close
double_smooth(src, long, short) =>
    fist_smooth = ema(src, long)
    ema(fist_smooth, short)
pc = change(price)
double_smoothed_pc = double_smooth(pc, long, short)
double_smoothed_abs_pc = double_smooth(abs(pc), long, short)
tsi_value = 100 * (double_smoothed_pc / double_smoothed_abs_pc)
plot(tsi_value, color=black)
plot(ema(tsi_value, signal), color=red)
hline(0, title="Zero")

Kommentarer

6 Buy/Sell Techniques using the TSI Indicator

I have identified no fewer than 6 techniques for using the True Strength Index (TSI) indicator for the accurate generation of Buy/Sell trading decisions.
*
I will present these 6 techniques accompanied by charts and demonstrate their interpretation.
*
The 6 techniques are:
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1. ZERO Crossover
2. Trend Line Break
3. Positive/Negative Divergence
4. Support/Resistance Line Break
5. Nosebleed/Opposite
6. Moving Average Crossover
*
Let's first begin with the ZERO Crossover, as it demonstrates the wonderfully characteristic 'truth' of the True Strength Index indicator:
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a.) when the indicator is rising above the ZERO level, price is always also rising.
b.) when the indicator is falling below the ZERO level, price is always also falling.

6 Buy/Sell Techniques using the TSI Indicator
http://thetsitrader.blogspot.gr/p/6-buysell-techniques-using-true.html
+8 Svara
study("True Strength Indicator MTF", shorttitle="TSI MTF")
resCustom = input(title="Timeframe", type=resolution, defval="60" )
long = input(title="Long Length", type=integer, defval=25)
short = input(title="Short Length", type=integer, defval=13)
signal = input(title="Signal Length", type=integer, defval=13)
price = close
double_smooth(src, long, short) =>
fist_smooth = ema(src, long)
ema(fist_smooth, short)
pc = change(price)
double_smoothed_pc = double_smooth(pc, long, short)
double_smoothed_abs_pc = double_smooth(abs(pc), long, short)
tsi_value = 100 * (double_smoothed_pc / double_smoothed_abs_pc)
tsi = security(tickerid, resCustom,tsi_value)
plot(tsi, color=black)
plot(ema(tsi, signal), color=red)
hline(0, title="Zero")
+6 Svara
Kaya QuantitativeExhaustion
@QuantitativeExhaustion, something is wrong or need to update
Svara
hello @QuantitativeExhaustion , I'm trying to work using two time frames but it's not working. Can you please help?
+5 Svara


Another example with lower chart time frame vs higher TSI frames.
+5 Svara


MTF TSI with update
+5 Svara
@QuantitativeExhaustion Thank you for the great script! I get an error trying to run an updated version. Something in line with 0.66%.
Any help would be appreciated! Thanks.
+3 Svara
nice
Svara