The True Strength Index study is a variation of the Relative Strength Index (RSI). Unlike the RSI, this study uses double smoothing: a short average of a longer one. This type of smoothing is applied to both one-bar momentum of the close price and its absolute value. The final result is equal to percent ratio between the two values.

Buy and Sell signals are indicated at crossovers of the primary plot with its average.

Input Parameters

Parameter Description
long length The number of bars used to calculate the long average.
short length The number of bars used to calculate the short average.
signal length The number of bars used to calculate the average for the signal plot.
average type

Defines the type of average used in calculations of primary and signal plots: simple, exponential, weighted, Wilder's, or Hull.


Plot Description
TSI The primary True Strength Index plot.
Signal The signal plot, average of True Strength Index.
ZeroLine The zero level.


*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

You may also like
The Momentum Percent Diff is a momentum-based technical indicator. Unlike the regular Momentum ...
The Schaff Trend Cycle (STC) is a technical indicator developed by Doug Schaff as an improvement ...
The Slow Relative Strength Index is a version of the classic Relative Strength Index (RSI), ...