True Strength Index oscillator.

It has four adjustable parameters:

  • First smoothing period - primary smoothing period
  • Second smoothing period - secondary smoothing period
  • Overbought - overbought level
  • Oversold - oversold level

Calculations:

TSI = 100.0 * UDM2 / ADM2

where:

UDM2 = EMA(UDM1, Second smoothing period)
ADM2 = EMA(ADM1, Second smoothing period)

UDM1 = EMA(UDM, First smoothing period)
ADM1 = EMA(ADM, First smoothing period)

UDM = Close - PrevClose
ADM = ABS(UDM)