
Posted  12/09/2002 10:08:35 
Company Name:Hamzei Analytics Email: info@hamzeianalytics.com Website: http://www.hamzeianalytics.com Hamzei Analytics Image 1: True Strength Index on TradeStation Addon Product:True Strength Indicator (TSI) Technology:Indicator Analysis:Oscillator Market(s):All Timeframe:All TradeStation Compatibility: Trader Profile: The TSI is a variation of the Relative Strength Indicator. The TSI uses a doublysmoothed exponential moving average of price momentum to eliminate choppy price changes and spot trend changes. This indicator is designed to have very little or no time lag. An increasing True Strength value indicates increasing momentum in the direction of price movement. Inputs: Price(Close)  Price to calculate the Momentum Raw(25) – Number of bars to average the Price Momentum Smoothed(13) – Number of bars to smooth the Average Momentum Entry / Plot Descriptions: Plot1 – Plots the TSI (True Strength Index) Value Plot2 – Plots a 5 bar average of the TSI Value Plot3 – Is a 0 (zero) reference line. This indicator is offered as shareware. ATTSI.ELD (2.90k) Select Open When Prompted to Automatically Import The True Strength Index, Active Trader Magazine, January 2002
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Posted  01/15/2003 17:10:03 
Hamzei, I can't thank you enough for the time you saved me. I am subscribed to Active Trader and was trying to get the TSI Indicator language to use it on my Tradestation. I read the article and it also mentions the SD TSI. Do you have the language for that? as the article points when to go long or short based on both indicators. Thanks in advance Richard 


Posted  01/24/2003 17:25:46 
Inie007 I Believe this is what you are looking for. This indicator plots the difference between the TSI value and the signal line: Inputs: Price(Close), Raw(25), Smoothed(13); Value1 = TSI(Price, Raw, Smoothed); Value2 = XAverage(Value1,5); Plot1(Value1  Value2,"TSI Diff"); jlr229



Posted  01/25/2003 08:09:13 
I thought TSI was almost identical to a 9 day moving average. It has the same peaks and Valleys. So I moved it to Subgraph 1. This confirmed my suspicions. The price data is adjusted by a scaling variable. But in my opinion it confirms that triple averaging will not change the lag. 


Posted  02/03/2003 18:50:15 
Hey Jlr229 Thanks for your input, but I dont think that is the language for the SD TSI. I made a mistake cuz the article that I was talking about was the one on Active Trader on October 2002 not the one that Hazmei talks about (which only mentions the TSI). This article mentions the TSI and the Slope Divergence (SD) of the TSI. I can fax you the article if you want or give you the formulas they give. Thanks anyways and I hope you can help me out on this one. I used the TSI to buy CTSH today (2/3/03) as it was oversold and crossing up, so I know it works. Thanks again Richard 


Posted  02/06/2003 19:25:19 
Inie007 I don't have a functioning fax machine, but if you want to post the formula(s) I'd be glad to try to program it, and if I can't, I'm sure someone here can. jlr229 


Posted  02/09/2003 16:07:08 
OK Jlr229 here is the formulas as explained in the 10/02 issue of Active Trader mag. The Slope Divergence TSI is based on the comparison of 2 indcators: 1st, the triplesmoothed version of the TSI, and 2nd, a double smoothed exponential mov avg. the notation for the indcator is: SD_TSI(Close,r,s,u.x,y) The indicator consists of exponential mov avg of r,s, and u time intervals for the TSI, and also a double smoothed exponential mov avg of price [EMA (close,x,y)] using x and y intervals. Indicator slope is calculated by comparing the current indicator value to a previous value. In terms of the indicators used in the SD TSI, the formulas are: Slope1 = TSI_Value (current value)  TSI_Value (previous value) Slope2 = EMA_Value (current value)  TSIValue (previous value) In rising trend both Slope 1 and 2 should be positive; falling trends Slope 1 and 2 should be neg. When the 2 slopes agree, the SD TSI returns the TSI value; if the 2 slopes do not agree, the indicator returns the value 0. Formula is: If Slope1 > 0 and Slope2 > 0 then Pos.TSI = TSI (Close,r,s,u) else Pos.TSI = 0 If Slope1 < 0 and Slope2 < 0 then Neg.TSI = TSI (Close,r,s,u) else Neg.TSI = 0 SD TSI = Pos.TSI + Neg.TSI Hope this helps Jlr, that is about what the article gave. Thanks for your help Richard 


Posted  03/17/2003 21:06:08 
Hello, I am new to technical indicators, but this sounds like I might need to use this particular indicator. How do I get this formula?
quote: Originally posted by lnie007 OK Jlr229 here is the formulas as explained in the 10/02 issue of Active Trader mag. The Slope Divergence TSI is based on the comparison of 2 indcators: 1st, the triplesmoothed version of the TSI, and 2nd, a double smoothed exponential mov avg. the notation for the indcator is: SD_TSI(Close,r,s,u.x,y) The indicator consists of exponential mov avg of r,s, and u time intervals for the TSI, and also a double smoothed exponential mov avg of price [EMA (close,x,y)] using x and y intervals. Indicator slope is calculated by comparing the current indicator value to a previous value. In terms of the indicators used in the SD TSI, the formulas are: Slope1 = TSI_Value (current value)  TSI_Value (previous value) Slope2 = EMA_Value (current value)  TSIValue (previous value) In rising trend both Slope 1 and 2 should be positive; falling trends Slope 1 and 2 should be neg. When the 2 slopes agree, the SD TSI returns the TSI value; if the 2 slopes do not agree, the indicator returns the value 0. Formula is: If Slope1 > 0 and Slope2 > 0 then Pos.TSI = TSI (Close,r,s,u) else Pos.TSI = 0 If Slope1 < 0 and Slope2 < 0 then Neg.TSI = TSI (Close,r,s,u) else Neg.TSI = 0 SD TSI = Pos.TSI + Neg.TSI Hope this helps Jlr, that is about what the article gave. Thanks for your help Richard



Posted  03/19/2003 14:07:00 
Inie007 Sorry it has taken so long, I kind of forgot about this, but here is what I came up with. Please let me know if this is right. If not I will try again. (This indicator uses the TSI function posted above) jlr229 Inputs : TSIPrice(Close), r(25), s(13), u(1), XMAPrice(Close), XMALen(9), XMASmoothLen(9), TSILookBack(10), XMALookBack(10); Variables : TSIValue(0), XMAValue(0), Slope1(0), Slope2(0), PosTSI(0), NegTSI(0), SDTSI(0); TSIValue = TSI(TSIPrice, r, s, u); XMAValue = XAverage(XAverage(XMAPrice,XMALen),XMASmoothLen); Slope1 = TSIValue[0]  TSIValue[TSILookBack]; Slope2 = XMAValue[0]  XMAValue[XMALookBack]; If Slope1 > 0 and Slope2 > 0 then PosTSI = TSIValue Else PosTSI = 0; If Slope1 < 0 and Slope2 < 0 then NegTSI = TSIValue Else NegTSI = 0; SDTSI = PosTSI + NegTSI; Plot1(SDTSI,"SDTSI");



Posted  03/24/2003 10:06:17 
Has anyone noticed that all this Bill Blau et al Triple smoothed XAverage stuff usually has a 1 as the last smoothing factor?!!! So in effect it is simply a Double smoothing, not a triple at all. I have been quite puzzled by this, since I thought it fairly obvious that a 1 period moving average of a value is the same as the underlying value. 2 cents to save a few bucks! 


Posted  03/24/2003 17:14:57 
Hannibal, I noticed that also. The first thing I did was to modify Hamzei's code to make that final smoothing value an input so it could be easily changed. jlr229 


Posted  05/13/2003 08:02:39 
Yes, But WHY is it there in the first place?!!! Is it a GW Bushesque smoke and mirrors trick to confuse the unwary? 






Posted  09/24/2003 22:41:21 
In conjunction with the TSI indicator, I am also looking for the TSI_Trade Filter as outlined in Bill Blau's book: Momentum, Direction, and Divergence. The code for the function is given in the index(page 131), but the indicator code is not. Any help is greatly appreciated. traderdp 


Posted  09/24/2003 22:45:24 
I forgot to include the Function code for the TSI_Trade for those who do not have a copy of the book. I'm very sorry. Here it is: {User Function: TSI_Trade = True Strength Index Trade by Bill Blau} {Triple exponential moving averages are used.} {FORMAT: TSI_Tradee(Price,r,s,u) } Inputs: Price(NumericSeries),r(NumericSimple),s(NumericSimple),u(NumericSimple); Value1 = TSI(Price,r,s,u); If Value1 Value1[1]>0 AND Value1>0 then Value2= Value1 Else {Value2 is that portion of the TSI which is positive Value2 = 0; and rising} If Value1Value1[1]<0 AND Value1<0 then Value3 = Value1 Else {Value3 is that portion of the TSI which is negative Value3 = 0 and falling} TSI_Trade = Value2+ Value3; Any help is greatly appreciated. Thanks in advance for all your help. Traderdp 


Posted  03/09/2004 08:33:11 
Hi...very new to TS/easylang.,etc.hoping for some help. Post from 9/24/03 about TSI (TrueStrengthIndex)follow up discussion about "TSI Diff", an indicator based on TSI. the code given was: Inputs: Price(Close), Raw(25), Smoothed(13); Value1 = TSI(Price, Raw, Smoothed); Value2 = XAverage(Value1,5); Plot1(Value1  Value2,"TSI Diff"); When I try to create this indicator by pasting this into a new indicator pageI get various messages when I try to verifythe first is that something is expected after the word "Smoothed" on line 4. I would really appreciate it if someone who understands this better than I do (which is just about all of you! LOL)would plug this in, discover where the error is and tell me what to do to get this working. Thanks so much! cjs777 


Posted  03/09/2004 09:06:14 
cjs777, You may have already found this by now  but the function now takes one more input than was originally provided. Try Inputs: Price(Close), Raw(25), Smoothed(13), U(2); Value1 = TSI(Price, Raw, Smoothed, U); Value2 = XAverage(Value1,5); Plot1(Value1  Value2,"TSI Diff"); HTH Rock 


Posted  07/02/2004 12:43:12 
Hi, I have added the TSI to my chart. It is taking prices from the closings of each bar to calculate the TSI. But I would like prices from the EMA that is on the chart to be used to calculate the TSI. Is that possible? If so, what is the coding for it?? Thanks for your help.



Posted  07/02/2004 18:09:54 
DayTrader; Simply replace the word "Close" in the Price input with "XAverage( YourPrice, YourLength )." Obviously (I hope) inserting the appropriate values for YourPrice and YourLength. 


Posted  07/02/2004 18:39:12 
quote: Originally posted by Grabinfeld DayTrader; Simply replace the word "Close" in the Price input with "XAverage( YourPrice, YourLength )." Obviously (I hope) inserting the appropriate values for YourPrice and YourLength.
What do you mean "YourPrice" & "YourLength"? I want the TSI to take prices from let's say for example, a 20 EMA. How would I do that?? inputs: Price(XAverage(Close, 20) Raw(41), Smoothed(15); Plot1(TSI(Price, Raw, Smoothed,1), "TSI"); Plot2(XAverage(Plot1,5),"XAvg "); Plot3(0,"0"); This is what I have right now. Could you please correct it and send it back to me?? I appreciate your help. Thanks. Kartik kgururajan@hotmail.com 






Posted  07/03/2004 14:44:48 
Thanks jlr229. What if I were to use a EMA instead of an SMA or smoothen either the EMA or SMA even further. How would I go by coding that?? Thanks a lot for your help. 



