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Hi Jeff and TMFT, Maybe you can help me understand how the indicator specs relate to the plots on the chart so I can tweak the TSI. I will ask some questions about the line items on the parameters and slope sections of the indicator and you can correct me if I am wrong.
In the Parameters: as (shown) on the image..........
03. Signal Period: (20) period of the 06. MA Type (EMA)?
the chart histogram is the: 02. Long Period (14) smoothed by the 01. Short Period (7)? Both 06. MA Type (EMA)?
In the Slope: as (shown) on the image.......... This has to do with the colored line on the 07. the zero line?
The slope of the line in question is the: 02. MAPeriod1 (21) of MA1Type (EMA) smoothed by 04. MAPeriod2 (1) of MA2Type (none)? And of course the line paints as when 08. (Lime) is greater than .05 Angle (30); 09. (Red) is less than 05. Angle (30); and 10. (Yellow) is equal to .05 Angle (30)?
In short: I can tweak the indicator by changing the Long Period (MA1) smoothed by the Short Period (MA2)???
Thanks for any information that you can supply on how the TSI calculates.....................Tiberius
Can you help answer these questions from other members on NexusFi?
The parameters section deals specifically with the signal and histogram.........you might want to start with 12 short/26 long/9 signal........just like a MACD.......you can tweak it from there........some people like to cut those numbers in half to make it more sensitive.
The slope section deals specifically with the zeroline of the indicator.........it is a built in moving average.....or combination of moving averages if you like........the angle is the point that the slope changes color.......30 is a nice starting place BUT......again.....you can tweak it from there.
Exported using NT Version 7.0.1000.30
The True Strength Index was developed by William Blau and published in his book "Momentum, Direction and Divergence". This version of the TSI is an enhanced version of the NinjaTrader default indicator. It comes …
The range bars look good, but you should probably compare to a 1 minute chart. Just look for a time frame such that the average true range on that time frame equals the range selected for the range chart.
Thanks for your post and getting by back. Check out the image, I beleive this is what you mean. The 30 second chart has mostly an average of a 4 or 5 ATR. Is this what you mean?
