OPEN-SOURCE SCRIPT
Trend Strength Index - ZTF
This is a modification of TradingView's default Trend Strength Index indicator.
The Trend Strength Index measures the tendency of a symbol to either trend steadily or to revert to its mean. The core idea behind TSI is that the more momentum a symbol has relative to its volatility, the more likely it is to follow a trend and less likely to revert to its mean.
This indicator analyzes price momentum using the Pearson correlation coefficient, a normalized measure of the linear relationship between time series. Its output shows the correlation between the chart's closing prices and bar index values over a defined number of bars.
A value near +1 shows that prices experienced relatively steady increases across successive bars, indicating high upward trend strength
A value near -1 shows that prices experienced relatively steady decreases across successive bars, indicating high downward trend strength
A value near 0 suggests a lack of trend strength, because prices did not demonstrate a steady positive or negative relationship with the bar index
ZTF Modification: Added a green background highlight that appears when TSI reaches 0.90 or above, providing a visual alert for extremely strong bullish trend conditions.
Credit: Based on TradingView's default Trend Strength Index indicator.
The Trend Strength Index measures the tendency of a symbol to either trend steadily or to revert to its mean. The core idea behind TSI is that the more momentum a symbol has relative to its volatility, the more likely it is to follow a trend and less likely to revert to its mean.
This indicator analyzes price momentum using the Pearson correlation coefficient, a normalized measure of the linear relationship between time series. Its output shows the correlation between the chart's closing prices and bar index values over a defined number of bars.
A value near +1 shows that prices experienced relatively steady increases across successive bars, indicating high upward trend strength
A value near -1 shows that prices experienced relatively steady decreases across successive bars, indicating high downward trend strength
A value near 0 suggests a lack of trend strength, because prices did not demonstrate a steady positive or negative relationship with the bar index
ZTF Modification: Added a green background highlight that appears when TSI reaches 0.90 or above, providing a visual alert for extremely strong bullish trend conditions.
Credit: Based on TradingView's default Trend Strength Index indicator.
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開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。