True Strength Index (TSI)
Tue, Apr 15The True Strength Index (TSI) is a momentum oscillator that operates within a range of -100 to +100, with a baseline value of 0.
When the oscillator is positive, it indicates positive momentum, suggesting a bullish market bias. Conversely, negative momentum is indicated when the oscillator is negative, pointing to a bearish market bias.
Developed by William Blau, the TSI consists of two lines: the index line and the signal line, which is an exponential moving average of the TSI.
Traders may look for any of the following five conditions: overbought, oversold, centerline crossover, divergence, and signal line crossover.
The TSI is valuable for identifying overbought and oversold conditions, signaling potential changes in trend direction through centerline or signal line crossovers, and alerting traders to trend weakness via divergence.
This indicator is frequently used in conjunction with other signals.
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