Bjorgum TSI

-This script utilizes simple color changes of the TSI output signals to aid in interpretation of the classic TSI indicator.
-Crosses of the TSI value line and signal line are a bullish or bearish indication. TSI value line is colored green or yellow to help identify that the TSI value line is either dropping or rising, while over or under the signal line.
-This can help anticipate a cross, or significant points in the trend. TSI signal line changes color when rising or falling which can help to identify larger prevailing trends.
-Generally, a rising signal line can be an overall bullish move, while falling more bearish regardless of crosses.

*Resolution function enables multiple overlay for "Multi-timeframe analysis"*
發布通知: Update includes some menu name changes and area plot fill color to accentuate bullish or bearish trends in the indicator

New "Select-a-speed" option provides a drop down box to allow the user greater control over the inputs used for the indicator

-Preset values are present for dual speed control without having to remember values

-"Fast" gives timelier signals - quicker entries and exits, but may give more whipsaw signals. This setting is good for swing trading, etc.

-"Slow" gives less signals - More meaningful signals, less whipsaw, but will not catch the top or bottom quite as good leaving a little delay.
This setting may be better for longer holds, or more volatile assets

Experiment and have fun - Back test the strategy and use a speed that works well for your asset, timeframe, and trading style

- By request - The ability to add overbought and oversold lines at your value of choice. Default is 25 and -25 and invisible.
*Activate checkbox in settings to see these lines if desired*
發布通知: Added alert functions:

-Bullish/bearish crosses of TSI
-Generic cross for recurring alerts
-Alert for bullish or bearish "curl" - gives an alert where the TSI line is highlighted while curling toward the signal line

Added new alert functions and bar color

Alert for overbought/oversold
  • Alerts user as TSI value crosses the specified values in settings. (default 30 and -30)
  • The technician should apply values to fit common extremes for their timeframe

Alert for Curl in area extreme

Alerts user if TSI "curls" in overbought or oversold (above or below user defined values)
Bar color option will also color based on this condition so the technician can visually check its effectiveness

Example of bar color check:




Never change this indicator it is a great one honestly
+15 回覆
Thanks for sharing. How do you get the arrows to appear on the chart above/below the candles?
+6 回覆
Bjorgum legimms
@legimms,Glad you like it. You can use the Bjorgum TSI arrow script, or it is included in the T3 reversal script as well.
+1 回覆
This is a trading bomb!!! THANK YOU!!!
+2 回覆
Bjorgum taurus55
@taurus55, You're very welcome, happy it is helping you my friend
+1 回覆
What is the best time frame for this?
+2 回覆
Bjorgum ericp3
@ericp3, the best time frame will change depending on the instrument you trade. Some assets on one time frame may perform better than another on a different time frame. Back testing is your best bet and I strongly recommend multi-time frame analysis - highest success rate will occur when multiple time frames align at once
Great indicator! One suggestion is to have two horizontal lines designating TSI values of choice, default in 25 and -25 for over bought and over sold.
+1 回覆
Bjorgum kengrayfield
@kengrayfield, This has been added - hope you enjoy
This indicator is underrated! Thanks for this amazing indicator.
+1 回覆
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