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TRUE STRENGTH INDEX (TSI) for Amibroker (AFL)

Pascal SAMSON almost 16 years ago Amibroker (AFL)

  • Rating:
    3 / 5 (Votes 7)
  • Tags:
    oscillator, amibroker

The TSI, from William Blau, is a variation of the Relative Strength Index. The TSI uses a doubly-smoothed exponential moving average of price momentum to eliminate choppy price changes and spot trend changes.

This indicator is designed to have very little or no time lag.When it is rising above zero, price is also rising.  Also, when the indicator is falling below zero, price is also falling. 
An increasing True Strength value indicates increasing momentum in the direction of price movement.

It is one of the best indicators I know, so please enjoy.

Screenshots

Indicator / Formula

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_SECTION_BEGIN("TSI");
r = Param( "TSI period 'Length':", 25, 1, 100, 1 );
s = Param( "TSI period 'Smoothing':", 13, 1, 100, 1 );
sig = Param( "Signal period:", 7, 1, 100, 1 );
 
Mtm = C - Ref ( C, -1 );
AbsMtm = abs ( Mtm );
Num_T = EMA ( EMA ( Mtm, r ), s );
Den_T = EMA ( EMA ( AbsMtm, r ), s );

TSI = 100 * Nz ( Num_T / Den_T );
Plot( TSI, "TSI("+r+","+s+")", ParamColor( "Color", colorRed ), ParamStyle("Style") );
Plot(EMA(TSI,sig), "", colorLightBlue);
PlotGrid(0, colorLightGrey);
PlotGrid(25, colorLightGrey);
PlotGrid(-25, colorLightGrey);
_SECTION_END();

2 comments

1. Jorge
about 15 years ago

Thanks!! Great and simple Indicator, remove all the noise of the classic RSI.

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