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2011.06.17 17:24
Indicators

Blau_TSI - indicator for MetaTrader 5

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\MQL5\Include\
blau_tsi.mq5 (9.39 KB)view

Author: Andrey N. Bolkonsky

True Strength Index indicator by William Blau (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis).

True Strength Index (TSI, q-period smoothed Momentum) - is a normalized Momentum indicator developed by William Blau. The indicator values are normalized and mapped into the [–100,+100] interval.

The positive values of TSI correspond to overbought, the negative values correspond to oversold states of the market.

  • WilliamBlau.mqh must be placed in terminal_data_folder\MQL5\Include\
  • Blau_TSI.mq5 must be placed in terminal_data_folder\MQL5\Indicators\

William Blau True Strength Index

Input parameters:

  • q - Momentum smoothing period (default q=2);
  • r - period of the 1st EMA, applied to Momentum (default r=20);
  • s - period of the 2nd EMA, applied to result of the first smoothing (default s=5);
  • u - period of the 3rd EMA, applied to result of the second smoothing (default u=3);
  • AppliedPrice - price type (by default AppliedPrice=PRICE_CLOSE).

Note:

  • q>0;
  • r>0, s>0, u>0. If r, s or u =1, smoothing is not used;
  • Min. rates =(q-1+r+s+u-3+1).

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/361

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