Forex True Strength Index (FXTSI)

Category: momentum

Calculates the True Strength Index (TSI) for 8 major currencies by aggregating momentum across 28 forex pairs. It provides a relative strength ranking to identify the strongest and weakest currencies.

Formula

$TSI = 100 \times \frac{EMA(EMA(Momentum, L2), L3)}{EMA(EMA(|Momentum|, L2), L3)}$ where $Momentum$ is the aggregate of redirected pair price changes.

Inputs

• FX source (default: OANDA)
• Momentum period (default: 0)
• Smoothing period 1 (L2) (default: 25)
• Smoothing period 2 (L3) (default: 15)
• Slope Length (default: 2)
• Apply Zero-sum (default: true)

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