TSI (Function)

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The TSI series function calculates returns a double value between -100 and 100, regardless of the asset it is applied to.

Syntax

TSI(Price, SmoothingLength1, SmoothingLength2)

Returns (Double)

A numeric value containing TSI for the current bar.

Parameters

Name	Type	Description
Price	Numeric	Price value or EasyLanguage expression to use in calculation of the True Strength Index.
SmoothingLength1	Numeric	Number of bars used in the calculation of the first smoothing factor used in the calculation of the True Strength Index
SmoothingLength2	Numeric	Number of bars used in the calculation of the second smoothing factor used in the calculation of the True Strength Index

Remarks

The equation for the True Strength Index, TSI is:

1. Calculate the price difference from the prior bar to the current bar: Price – Price[1]

2. Double-smooth the price difference using an exponential smoothing

3. Double-smooth the absolute value of the price difference using an exponential smoothing.

4. Divide the value from step 2 by the value from step 3

5. Multiply the result by 100

The input Price is usually hard coded with some bar attribute such as Close, Open, High, Low, and Volume or is replaced with a numeric series type input. However, it can be replaced with a valid EasyLanguage expression. For example: Close + Open or Average(Close, 10).

Examples

Plot1( TSI( Close, 25, 13 ) );