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Published:

2018.06.16 10:01

Blau_TSI.mq5 (13.86 KB) view

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The William Blau True Strength Index indicator shows the William Blau true strength index.

It has seven input parameters:

Period - calculation period;
Applied price - the calculation price;
First smoothing period - the initial smoothin period;
Second smoothing period - the secondary smoothing period;
Third smoothing period - the resulting smoothing period;
Upper level - the overbought level;
Lower level - the oversold level.

Based on the True Strength Index calculation formula described in the MQL5: Create your own indicator article and on William Blau's postulate of three-period smoothing, the indicator calculation formula is as follows:

TSI(Price,Period,fs,ss,ts) = 100 * EMA(EMA(EMA( mtm(Price,Period) ,fs),ss),ts) / EMA(EMA(EMA( |mtm(Price,Period)| ,fs),ss),ts)

where:

mtm(Price,Period) = Price[i] - Price[i-Period+1],
fs - First smoothing period,
ss - Second smoothing period,
ts - Third smoothing period

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20516

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