Blau_TSI - MetaTrader 5 Script - MQL5 #20516 - MT4/MT5 Resources

The William Blau Real Strength Index indicator shows the William Blau Real Strength Index.

It has seven input parameters:

Based on the True Strength Index calculation formula MQL5: Create your own indicator article and William Blau's three-period smoothing assumption, the indicator calculation formula is as follows:

 TSI(price, period, fs, ss, ts) = 100 * EMA(EMA(EMA( mtm(price, period) ,fs),ss),ts) / EMA(EMA( |mtm(price, period)| ,fs),ss),ts)

Where:

 mtm(price, period) = price[i] - price[i-period+1],
fs - first smoothing period,
ss - second smoothing period,
ts - third smoothing period