True strength index (TSI)
Double-smoothed momentum on a −100 to 100 scale, with a signal line.
Formula
TSI = 100 × EMA_short(EMA_long(ΔP)) ÷ EMA_short(EMA_long(|ΔP|))
How to read it
Above zero is bullish momentum; crossing the signal line is the trigger.
How to use it
Trend direction and overbought or oversold readings in one smoothed line.
In Kereon
Charts · Superchart. Defaults: long 25, short 13, signal 13; zero line drawn.
Also called: true strength, blau.