Pair Strength: Updated Version of the one by GlazI updated this version used for Forex with Stock&Index related instruments. Enjoy.
Indicator
TSI
SMI Ergodic Oscillator Backtest The SMI Ergodic Indicator is the same as the True Strength Index (TSI) developed by
William Blau, except the SMI includes a signal line. The SMI uses double moving averages
of price minus previous price over 2 time frames. The signal line, which is an EMA of the
SMI, is plotted to help trigger trading signals. Adjustable guides are also given to fine
tune these signals. The user may change the input (close), method (EMA), period lengths
and guide values.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
You can change long to short in the Input Settings
WARNING:
- For purpose educate only
- This script to change bars colors.
Strategy
SMI Ergodic Oscillator Strategy The SMI Ergodic Indicator is the same as the True Strength Index (TSI) developed by
William Blau, except the SMI includes a signal line. The SMI uses double moving averages
of price minus previous price over 2 time frames. The signal line, which is an EMA of the
SMI, is plotted to help trigger trading signals. Adjustable guides are also given to fine
tune these signals. The user may change the input (close), method (EMA), period lengths
and guide values.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
WARNING:
- This script to change bars colors.
Indicator
Indicator
Ergotic TSI Strategy Backtest r - Length of first EMA smoothing of 1 day momentum 4
s - Length of second EMA smoothing of 1 day smoothing 8
u- Length of third EMA smoothing of 1 day momentum 6
Length of EMA signal line 3
Source of Ergotic TSI Close
This is one of the techniques described by William Blau in his book "Momentum,
Direction and Divergence" (1995). If you like to learn more, we advise you to
read this book. His book focuses on three key aspects of trading: momentum,
direction and divergence. Blau, who was an electrical engineer before becoming
a trader, thoroughly examines the relationship between price and momentum in
step-by-step examples. From this grounding, he then looks at the deficiencies
in other oscillators and introduces some innovative techniques, including a
fresh twist on Stochastics. On directional issues, he analyzes the intricacies
of ADX and offers a unique approach to help define trending and non-trending periods.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
You can change long to short in the Input Settings
Please, use it only for learning or paper trading. Do not for real trading.
Strategy
MultiCross v4.20Quad-HullMA-cross & VWMA & MacD & TSI combination
Version 4.20
added script for strategy settings to be already correct when strategy loads onto chart:
calc_on_order_fills= true, calc_on_every_tick=true, default_qty_type=strategy.percent_of_equity, default_qty_value=100, pyramiding=0
Strategy
MultiCrossQuad-HullMA-cross & VWMA & MacD & TSI combination
Made for 4H - other timeframes unkown result.
Strategy
TSI w/BBA simple modification of the normal TSI indicator. It adds Bollinger Bands that are based on the TSI values, instead of the price history.
I find this indicator useful on the weekly interval.
Indicator
True Strength Indicator MTFHere 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")
Indicator
Ergotic TSI Strategy r - Length of first EMA smoothing of 1 day momentum
s - Length of second EMA smoothing of 1 day smoothing
u- Length of third EMA smoothing of 1 day momentum
Length of EMA signal line
This is one of the techniques described by William Blau in his book "Momentum,
Direction and Divergence" (1995). If you like to learn more, we advise you to
read this book. His book focuses on three key aspects of trading: momentum,
direction and divergence. Blau, who was an electrical engineer before becoming
a trader, thoroughly examines the relationship between price and momentum in
step-by-step examples. From this grounding, he then looks at the deficiencies
in other oscillators and introduces some innovative techniques, including a
fresh twist on Stochastics. On directional issues, he analyzes the intricacies
of ADX and offers a unique approach to help define trending and non-trending periods.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
Indicator
