Customise True Strength Indicator

• 05/01/2024 at 5:51 AM #232118
  WhyAskOZ

  I am looking to make a customised True Strength Index indicator as the standard TSI that comes pre-built in PRT can’t be customised and it also doesn’t work for pr-screener.

  There are two TSI code in the library but both of them have different value then PRT in-built TSI code. Appreciate if anyone can provide code for TSI that matches pre-built TSI indicator but in addition allow to add 3 horizontal lines that w can change how we want going into setting.

  current default TSI gives two fixed line, one at 25 and another at -25. What I would like is 3 lines one at -25, 0 and 25 and possible this line location we can change from the setting then it would be helpful.

  Below, article gives the formula for TSI. Obviously, there are many such article on google so you use whichever you prefer.

   

  https://school.stockcharts.com/doku.php?id=technical_indicators:true_strength_index

  thanks,

  

  WhyAskOZ

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  05/01/2024 at 6:59 AM #232119
  JS

  Hi,

  Try this one:

   

  TSI Custom

  PC=Close-Close[1] FSPC=Average[25,1](PC) DSPC=Average[13,1](FSPC) APC=Abs(Close-Close[1]) FSAPC=Average[25,1](APC) DSAPC=Average[13,1](FSAPC) TSI=100*(DSPC/DSAPC) DrawHLine(LL)Coloured("Red") DrawHLine(ZL) DrawHLine(HL)Coloured("Green") Return TSI as "True Strength Indicator"

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  PC=Close-Close[1] FSPC=Average[25,1](PC) DSPC=Average[13,1](FSPC)   APC=Abs(Close-Close[1]) FSAPC=Average[25,1](APC) DSAPC=Average[13,1](FSAPC)   TSI=100*(DSPC/DSAPC)   DrawHLine(LL)Coloured("Red") DrawHLine(ZL) DrawHLine(HL)Coloured("Green")   Return TSI as "True Strength Indicator"

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  WhyAskOZ

  

  JS

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  05/01/2024 at 10:38 PM #232156
  WhyAskOZ

  Thank you so much, It does work same as PRT inbuilt TSI and also provides 3 lines.

   

  I have to manually add zero line for each stock earlier while your code is very helpful and should be added to the library as it will help others.

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  JS

  

  WhyAskOZ

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