Blau_TSI - MetaTrader 5 Script - MQL5 #361 - MT4/MT5 Resources
Author: Andrei N. Bolkonsky
William Blau's True Strength Index indicator (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicator to Technical Analysis ).
True Strength Index (TSI, q-period smoothed momentum) - is a standardized momentum indicator developed by William Blau. Indicator values are normalized and mapped to the interval [–100,+100].
Positive values for the TSI correspond to overbought, and negative values correspond to oversold conditions in the market.
Input parameters:
Attachment download
📎 williamblau.mqh (4.53 KB)
📎 blau_tsi.mq5 (9.39 KB)
Source: MQL5 #361
Blau_TSI - MetaTrader 5 Script - MQL5 #361 Usage and Filtering Advice
Blau_TSI - MetaTrader 5 Script - MQL5 #361 is a resource related to foreign exchange indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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