TSI indicator download for MetaTrader 5 - Free | Forex indicator download - MT4/MT5 resources

The True Strength Index (TSI) in MetaTrader 5 oscillator uses two moving averages (MA) to analyze movements and trend direction , providing traders with insights into important reversal points and trend continuations.

The TSI oscillator is divided into two main parts by the zero scale. When the curve is above this zero level , it indicates a bullish trend , while movements below the zero level signal a bearish trend .

Indicator Table

The chart below shows the 15-minute chart of the Dow Jones Index [US30] . On the left side of the image, there is a bullish trend formed and then started to swing low . The indicator curve is blue and is positioned above the zero level , indicating the beginning of a bullish trend .

On the right side of the image, after forming a swing high , the TSI curve turns orange and moves below the zero level , marking the beginning of a bearish trend .

Overview

Accurately identifying the trend and trading in its direction is crucial to trading strategy and should be taken seriously.

The Real Strength Index, utilizing 25-period and 13-period moving averages (MA 25, MA 13) , helps predict the direction of price trends and can be used as a confirming tool trend direction as well as various analysis styles and trading strategies .

Uptrend signal (buy position)

The chart below shows the 4-hour chart of the GBP/AUD pair. The MT5 signal and forecast indicator curve has moved to zero level and has turned blue , marking the beginning of a bullish trend.

This condition confirms the accurate upward trend direction identified and can be used as confirmation for other trading strategies.

Downtrend signal (sell position)

The picture below shows the AUD/USD pair on the 4-hour chart. The indicator curve has moved above the zero level and has turned orange , marking the beginning of a bearish trend .

This condition confirms the exact downward trend direction identified and can be used as confirmation for other trading strategies.

Settings of TSI indicator

• Real Strength Index Momentum Smoothing Period : Using Slow Moving Average (MA 25);
• Real Strength Index Smoothing Period 2 : Using Fast Moving Average (MA 13);
• Price : [Close Price] — This setting should use the closing price.

Note : To highlight the zero level indicator as shown in the image below, you can use the (Add) option in the indicator settings under the (Level) section to add the zero level and select the color according to your preference.

Conclusion

The TSI indicator can be used in all timeframes and trending markets such as Forex and stocks as it can evaluate accurate buy and sell signals and predict future trend direction.

For beginners, it is recommended to start trading with TSI combined with simple support - resistance and trend oscillators . At the same time, experienced traders can use it to understand trend confirmation in their strategies .