True Strength Index (TSI) with Signal Line

Category: momentum

An implementation of the True Strength Index (TSI) which uses double-smoothed exponential moving averages of price momentum to reduce noise and lag.

Formula

TSI = 100 * (EMA(EMA(Momentum, r), s) / EMA(EMA(|Momentum|, r), s)) \nSignalLine = MA(TSI, n) \nwhere Momentum = Price - Price[1]

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.