True Strength Index oscillator.
It has four adjustable parameters:
- First smoothing period – primary smoothing period
- Second smoothing period – secondary smoothing period
- Overbought – overbought level
- Oversold – oversold level
Calculations:
TSI = 100.0 * UDM2 / ADM2
where:
UDM2 = EMA(UDM1, Second smoothing period)
ADM2 = EMA(ADM1, Second smoothing period)
UDM1 = EMA(UDM, First smoothing period)
ADM1 = EMA(ADM, First smoothing period)
UDM = Close – PrevClose
ADM = ABS(UDM)
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