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True Strength Index with Bollinger Bands
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True Strength Index with Bollinger Bands

  #1 (permalink)
Elite Member
Dallas, TX
Futures Experience: Intermediate
Platform: ToS, TradeGuider, eSignal, AmiBroker
Broker/Data: TD Ameritrade/eSignal
Favorite Futures: Stocks
DonStar's Avatar
Posts: 68 since Dec 2011
Thanks: 28 given, 41 received

True Strength Index with Bollinger Bands

I am looking for the TSI with its own Bollinger Bands.

It would be like the MACD with Bollinger Bands only using the TSI instead of the MACD.

Need this for the think or swim platform.

Any help I can get it will be greatly appreciated.

Thank you,


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  #2 (permalink)
1.Fibs 2.??? 3.Profit
Puerto Rico
Futures Experience: Intermediate
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: ES
rmejia's Avatar
Posts: 384 since Oct 2010
Thanks: 3,597 given, 424 received

Gave it a shot:

declare lower;

# True Strength Index

input longLength = 25;
input shortLength = 13;
input signalLength = 8;
input averageType = AverageType.EXPONENTIAL;

def diff = close - close[1];
plot TSI;
plot Signal;

TSI = (MovingAverage(averageType, MovingAverage(averageType, diff, longLength), shortLength))
    / (MovingAverage(averageType, MovingAverage(averageType, AbsValue(diff), longLength), shortLength)) * 100;
Signal = MovingAverage(averageType, TSI, signalLength);

plot ZeroLine = 0;


# Bollinger Bands

input BbLength = 20;
input BbNum_Dev = 2.0;

plot BB_Upper = reference BollingerBands(price = TSI, length = BBlength, Num_Dev_Dn = -BBNum_Dev, Num_Dev_Up = BBNum_Dev).UpperBand;
plot BB_Lower = reference BollingerBands(price = TSI, length = BBlength, Num_Dev_Dn = -BBNum_Dev, Num_Dev_Up = BBNum_Dev).Lowerband;
plot BB_Midline = reference BollingerBands(price = TSI, length = BBlength, Num_Dev_Dn = -BBNum_Dev, Num_Dev_Up = BBNum_Dev).MidLine;

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