True Strength Index TSI

True Strength Index TSI

The true strength index (TSI) is a technical indicator used in the analysis of financial markets that attempts to show both trend direction and overbought/oversold conditions. It was first published William Blau in 1991. The indicator uses moving averages of the underlying momentum of a financial instrument. Momentum is considered a leading indicator of price movements, and a moving average characteristically lags behind price. The TSI combines these characteristics to create an indication of price and direction more in sync with market turns than either momentum or moving average. (source: wikipedia)

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials

  1. Martial Schaff • 10/26/2015 #

    Hello,
    The formula you describe in this post is not the same as in the prorealtime tool (predefined indicators).
    Could you please show the formula used in prorealtime?
    Thanks

  2. Dunkelmann • 10/26/2015 #

    I think if you substitute Momentum for ROC in the code you get the tool values.

  3. marzibre • 10/26/2015 #

    Hello Nicholas I confirm you that the formula it is not the same. Could you please give me a link where I can find the predifined code of True Strenght Index? I need to it to take as example to create the True Directional Index (another William Blau indicator)

  4. gelex911 • 10/26/2015 #

    I confirm too that the formula given above differs from the predefined TSI. Why this missmatch?

  5. Bateson • 10/26/2015 #

    Bonjour.
    L’indicateur fonctionne remarquablement.
    Je n’arrive cependant pas à l’intégrer dans une stratégie “croisement TSI / TMA”. Pourriez-vous m’indiquer comment faire ?
    Cordialement

  6. Fernando • 147 days ago #

    Hi I had same problem, so I translated from NinjaTrader TSI’s formula to PRT code, seems the same values now!

    Fast = 3
    Slow = 14

    constant1 = 2 / (1 + Slow)
    constant2 = 1 – (2 / (1 + Slow))
    constant3 = 2 / (1 + Fast)
    constant4 = 1 – (2 / (1 + Fast))

    IF BarIndex = 0 THEN
    fastAbsEma = 0
    fastEma = 0
    slowAbsEma = 0
    slowEma = 0
    Valor = 0
    ELSE
    momento = Close[0] – Close[1]
    slowEma = momento * constant1 + constant2 * slowEma
    fastEma = slowEma * constant3 + constant4 * fastEma
    slowAbsEma = Abs(momento) * constant1 + constant2 * slowAbsEma
    fastAbsEma = slowAbsEma * constant3 + constant4 * fastAbsEma[1]
    IF fastAbsEma = 0 THEN
    Valor = 0
    ELSE
    Valor = 100 * fastEma[0] / fastAbsEma[0]
    ENDIF
    ENDIF

    Return Valor AS “TSI”

avatar
Register or

Likes

avatar
Related users ' posts
P. Marlowe Muy bueno. ¿Podría hacerse para señalar extremos por el lado bajista? Lo mismo a la inversa....
Miro Esta es una versión del indicador, para ambos extremos. //-------------------------------...
P. Marlowe Muchas gracias ¡¡
Iván Hi. You could add these lines of code: if intradaybarindex=0 then varhigh=round((dhigh(...
RTR Edit
@toniyecla ¡gracias! más capturas aqui: https://www.prorealcode.com/wp-content/uploads/2024/10/IC...
robert123 I had a go at the 'order block' version- badly done I'm sure....but a start. // Sonarlabs ...
robert123 take ''sens1 = 5'' out and put ''rango'' in as variable
@toniyecla captura: https://www.prorealcode.com/wp-content/uploads/2024/10/sesiones_v3.png
@toniyecla y más opciones: añade una línea también en sesiones EUROPA y USA (configurable) y un texto o...
@toniyecla // Author: toniyecla - contact@rescommunesomnium.com // VARIABLES // EspHorarioVerano (b...
Alai-n Hello, take a look at this formulation made by "Blade106", Topic link attached post #227334....
@toniyecla ¡interesante acercamiento! (no lo conocía, simplemente tuve la necesidad y lo programé) pers...
Iván
4 weeks ago
MaoRai54 dear Ivan, it seems to be very interesting but please clarify what are all the lines I see i...
Iván Hi! you have the answer in the last line of code... MacdMiddle as "histo" style(histogra...
kats Le Top , a utiliser avec le nuage violet et alerte TN pour plus de précision.
roccafragius Hello Ivan, another great Indicator, very useful to trace the trend ( blue line) and the pos...
roccafragius Hello Ivan, very good job! May I ask you to translate teh script from TradingView named Tre...
Iván Hi! yes. You can ask for it here: https://www.prorealcode.com/free-code-conversion/
roccafragius Thank you so much Ivan! I created this request in english Translate from TradingView Indicat...
Regisnew très bel indicateur merci
jordan //---settings MAmode=0 Period=150 NumberOfMA=100 //---end of settings MA2=undefined ...
jordan dites moi si cela correspond à ce que vous cherchez
kats bonjour merci de ta reponse mais non ca fonctionne pas sympa quand même d'avoir essayé cdlt
Jean2139 Bonjour Yvan, Merci pour ton indicateur que je trouve très intéressant. Je suppose que tu ...
Suffi Hier eine kleine Korrektur: //-----Inputs-----------------------------------------// MALengt...
yas hi Ivan is it possible to include FAIR VALUE GAP code in to this indicator
Becleso Bonjour. Il y a une erreur dans le programme "ligne1 : Erreur : commande inconnue" As tu un...
Nicolas Sans doute parce que tu utilises le mauvais éditeur de code, il s'agit d'un indicateur. Je r...
Iván
4 months ago
Javier Goberna Hola Iván muchas gracias por todo tu trabajo y por tus videos. Estoy dado de alta en la plat...
Iván Hola javier gracias! es importante realizar buenos backtest antes de lanzarse al mercado y ...

Top