True Strength Index (TSI)

Category: momentum

True Strength Index (TSI) implementation using double Exponential Moving Average (EMA) smoothing of price momentum to identify trend strength and direction.

Formula

TSI = 100 * (EMA(EMA(Price - Price_{prev}, r), s) / EMA(EMA(|Price - Price_{prev}|, r), s))

Inputs

• ema1 (default: 25)
• ema2 (default: 13)
• sMAp (default: 10)
• MAmode (default: MODE_EMA)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.