TSI MACD indicator download for MetaTrader 4 - Free | Forex indicator download - MT4/MT5 resources

The True Strength Index MACD (TSI MACD) is an advanced hybrid tool in MetaTrader 4 for identifying market depth.

This volatility indicator was developed by combining two popular tools, MACD and TSI , providing a more accurate assessment of trend strength and direction.

The TSI MACD indicator, based on the main characteristics of these two instruments and supplemented by the moving average line and signal line, allows traders to evaluate the trend strength .

Indicator specification table

TSI MACD Indicator Overview

The MACD indicator is a well-known tool for identifying moving average convergence and divergence ; the TSI indicator also serves as a momentum index, showing the strength and strength of price movements . Combining these two powerful tools provides traders with elements of both.

Uptrend conditions

The price chart of the USD/JPY currency pair in a 4-hour timeframe demonstrates how to operate and enter a buy position (entry) .

According to the image, the price trend becomes bullish whenever the blue line crosses the signal line (orange line) upwards and oscillates in the positive phase.

The intersection points of these two lines can be considered as entry signals.

Downtrend conditions

Bitcoin price chart (BTC) on the 1-hour timeframe demonstrating how to operate and enter a sell position (entry) .

According to the chart, whenever the blue line crosses the signal line, the price trend becomes bearish (orange line) downward and oscillates in the negative phase.

The intersection of these two lines can be considered as the entry signal.

Indicator Settings

• Chart Theme : Indicator theme;
• Fast MA Period : The fast moving average period is calculated as 8;
• Slow MA Period : The slow moving average period is calculated as 21;
• Signal Period : The signal period is set to 5;
• First Smoothing : The initial smoothing parameter is set to 8;
• Second Smoothing : The secondary smoothing parameter is set to 5;
• Sig Period : The signal line period is set to 5.

Conclusion

The TSI MACD indicator combines the features of both tools to provide a more precise signal of potential price changes, effectively analyzing price movements and momentum .

This MT4 oscillator is useful for day traders and those who seek to trade short term fluctuations and serves as a reliable indicator for personal analysis.