Blau Traversal TSI - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
Ergodic True Strength Index (as described by author William Blau)
By definition, TSI (True Strength Index) is a double smoothing momentum calculated using the following formula:
This indicator identifies whether it is a "traversal" or "regular" TSI. It also offers 3 shading modes to aid decision-making:
You can use the color change of the signal. Although William Blau uses an ergodic definition, it might be wise to try to smooth the parameter regardless of whether it is "ergodic" or not. He often uses the 25,13 setting for the first two smoothing cycles, which seems to be an acceptable setting for many situations.
Attachment download
📎 blau_-_ergodic_tsi.mq5 (13.61 KB)
Source: MQL5 #22861
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