Technical Studies Reference
True Strength Index / Ergodic
The Ergodic and True Strength Index are the same studies.
The True Strength Index is based on Bill Blau's ergodic True Strength Index. This study produces 3 lines, the TSI (True Strength Index), the Signal Moving Average (exponential moving average of the TSI), and the Oscillator (Difference of Signal and TSI).
The calculation method is as follows. EMA = Exponential Moving Average.
Numerator = EMA( EMA(Price - LastPrice, LongExpMALength), ShortExpMALength)
Denominator = EMA( EMA( Abs(Price - LastPrice), LongExpMALength), ShortExpMaLength)
TSI = Multiplier * Numerator / Denominator
SignalMA = EMA(TSI, SignalMALength)
Oscillator = TSI - SignalMA
*Last modified Friday, 21st April, 2017.