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SamAccountX

TSI with histogram and MA - SamX

SamAccountX Updated   
Oscillators True Strength Index (TSI) Moving Averages TSI TRUE strength
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oscillator truestrengthindicator movingaverage tsi true strength
This is an enhanced TSI. The others I've found on here have generally lacked sufficient settings context and/or alert definitions, so I made this version to address those gaps. In addition to that, I also added a way to plot a user-customizable moving average line of the TSI to better help identify trending conditions across TSI swings.
Release Notes:
Removed YouTube link to inspiration video for updated default settings.
Release Notes:
A fairly minor update that most people wouldn't notice. Added in an option to force the indicator to always retrieve actual price info for the TSI calculation instead of strictly relying on the default behavior of the Pinescript 'open', 'high', 'low', and 'close' type variables (which inherit price data based on the selected chart type, which in some cases (e.g. Heiken Ashi charts) may not be an accurate representation of actual price - especially in large and rapid price swings.
Release Notes:
  • Added customizable horizontal lines for marking over-bought and over-sold levels
  • Added new alerts for the TSI crossing the over-bought and over-sold lines
  • Added new alerts for the TSI crossing the floating moving-average line
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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