potomacapitol

TSI Spread - false move indicator

391 5 28
Yellow on top during an upward slope = false move
Confirmation @ Vertex to push slope from up to down, with yellow on top

Credit to the worst fund manager east of the Mississippi ;)
Remove from Favorite Scripts Add to Favorite Scripts
//:P
study("TSI Spread - false move indicator", shorttitle="TSI Spread")
long = input(title="Long Length", type=integer, defval=30)
short = input(title="Short Length", type=integer, defval=6)
signal = input(title="Signal Length", type=integer, defval=13)
price = close
double_smooth(src, long, short) =>
    fist_smooth = ema(src, long)
    ema(fist_smooth, short)
pc = change(price)
double_smoothed_pc = double_smooth(pc, long, short)
double_smoothed_abs_pc = double_smooth(abs(pc), long, short)
tsi_value = 100 * (double_smoothed_pc / double_smoothed_abs_pc)
plot(tsi_value, color=yellow, linewidth=3)
hline(0, title="Zero")

//////

long2 = input(title="Long2 Length", type=integer, defval=25)
short2 = input(title="Short2 Length", type=integer, defval=6)
signal2 = input(title="Signal2 Length", type=integer, defval=13)
double_smooth2(src, long2, short2) =>
    fist_smooth2 = ema(src, long2)
    ema(fist_smooth2, short2)
pc2 = change(price)
double_smoothed_pc2 = double_smooth2(pc2, long2, short2)
double_smoothed_abs_pc2 = double_smooth(abs(pc2), long2, short2)
tsi_value2 = 100 * (double_smoothed_pc2 / double_smoothed_abs_pc2)
plot(tsi_value2, color=blue, linewidth=3)

//////////

long3 = input(title="Long3 Length", type=integer, defval=19)
short3 = input(title="Short3 Length", type=integer, defval=13)
signal3 = input(title="Signal3 Length", type=integer, defval=13)
double_smooth3(src, long3, short3) =>
    fist_smooth3 = ema(src, long3)
    ema(fist_smooth3, short3)
pc3 = change(price)
double_smoothed_pc3 = double_smooth3(pc3, long3, short3)
double_smoothed_abs_pc3 = double_smooth3(abs(pc3), long3, short3)
tsi_value3 = 100 * (double_smoothed_pc3 / double_smoothed_abs_pc3)
plot(tsi_value3, color=fuchsia, linewidth=2)
Please further elaborate?
Reply
Thanks,
+1 Reply
Dont understand, sorry novice, please explain
Reply
signal = input(title="Signal Length", type=integer, defval=13) is declared but not used? Thanks
Reply
@syracusepro, correct, can be activated to display more info.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out