Try this TSI code. Description: "True Strength Index, fully adjustable & with multiple output choice". jose '-)

Reg, the oscillator will make more sense when plotted on its own window. Here's an updated version: [code:1:d086fb88c4] MetaStock -> Tools -> Indicator Builder -> New Copy and paste formula below. =================== True Strength Index =================== ---8<--------------------------- { True Strength Index (TSI) v2.0 ©Copyright 2003~2005 Jose Silva. The grant of this license is for personal use only - no resale or repackaging allowed. All code remains the property of Jose Silva. http://www.metastocktools.com } { User inputs } pdsRoc:=Input("ROC periods",1,252,3); pdsEma:=Input("EMA periods",1,252,5); smooth:=Input("smoothing EMA periods",1,252,21); { TSI } TSI:=100* Mov(Mov(ROC(C,pdsRoc,%),pdsEma,E),smooth,E)/ Mov(Mov(Abs(ROC(C,pdsRoc,%)),pdsEma,E),smooth,E); avg:=Cum(TSI)/Cum(IsDefined(TSI)); { Auto over-Bought/Sold levels } pk:=Ref(TSI,-1)=HHV(TSI,3) AND TSI>0; pkVal:=ValueWhen(1,pk,Ref(TSI,-1)); Obought:=Cum(pkVal*pk)/Cum(pk); tr:=Ref(TSI,-1)=LLV(TSI,3) AND TSI<0; trVal:=ValueWhen(1,tr,Ref(TSI,-1)); Osold:=Cum(trVal*tr)/Cum(tr); { Plot in own window } Obought;avg;Osold;TSI ---8<--------------------------- [/code:1:d086fb88c4] Basing complete entry & exit signals on one single indicator is never a good idea, but I would eyeball a few charts and look for meaningful TSI/price patterns that may be compatible with my own trading style. Any promising finds could then be added as additional entry/exit signals to my own existing trading strategy. Experiment with different ROC/EMA period combinations. Look for increasing/decreasing strength (higher TSI troughs, lower TSI peaks). Look for divergences between TSI and price. jose '-)

Hello Jose and Compliments of the season to you, I took the Christmas break to review your Indicators and attach the plot as below: However, I cannot make out where the crossovers are occurring in order for me to determine the entry and exit points. Looking at Thom Hartle's article, the TSI is plotted somewhat differently from your formulae and I was hoping whether you are able to shed some light how to correlate your plot back to Thom's plot as below?

regsinha, I checked S&C and could not find the article. Are you sure that was the source. Reason that I ask is because Hartle left S&C and went to Active Trader several years ago. Checking Active Trader I found the following: January 2002 For "True Strength Index (TSI)" by Thom Hartle, starting on p. 58: TSI(close,r,s) = 100*EMA(EMA(mtm,r),s)/EMA(EMA(|mtm|,r),s) where mtm = closetoday - closeyesterday EMA(mtm,r) = exponential moving average of mtm with alpha = r EMA(EMA(mtm,r),s) = exponential moving average of EMA(mtm,r) with alpha = s |mtm| = absolute value of mtm r = 25, s = 13 ** For MetaStock, use the Indicator Builder: 100*(Mov(Mov((CLOSE - Ref(CLOSE,-1)),25,E),13,E))/(Mov(Mov(Abs(CLOSE - Ref(CLOSE,-1)),25,E),13,E)) Hope this helps, Preston

Hi Jose, I must be missing another step in copying and pasting your formulae into the Indicator Builder as I got the following error message. Would appreciate your feedback, please? Thanks. Reg

Hello Jose, Sorry to be a pain but I was confused with the last set of codes which you sent. I was under the impression that these were stand alone formulas and I have now copied and pasted the additional code to the orginal formula. Please review and validate as to whether I have done the right thing as I am still very new to Metastock programming and am trying to learn as much from the manuals. I am very much indebted to you and many others who have responded with your patience and charity in terms of time and technical expertise to us, newbies. Thanks once again, Reg =========================================================================== { True Strength Index (TSI) v2.0 } ©Copyright 2003~2005 Jose Silva. The grant of this license is for personal use only - no resale or repackaging allowed. All code remains the property of Jose Silva. http://www.metastocktools.com } { User inputs } pdsRoc:=Input("ROC periods",1,252,3); pdsEma:=Input("EMA periods",1,252,5); smooth:=Input("smoothing EMA periods",1,252,21); { TSI } TSI:=100* Mov(Mov(ROC(C,pdsRoc,%),pdsEma,E),smooth,E)/ Mov(Mov(Abs(ROC(C,pdsRoc,%)),pdsEma,E),smooth,E); avg:=Cum(TSI)/Cum(IsDefined(TSI)); { Auto over-Bought/Sold levels } pk:=Ref(TSI,-1)=HHV(TSI,3) AND TSI>0; pkVal:=ValueWhen(1,pk,Ref(TSI,-1)); Obought:=Cum(pkVal*pk)/Cum(pk); tr:=Ref(TSI,-1)=LLV(TSI,3) AND TSI<0; trVal:=ValueWhen(1,tr,Ref(TSI,-1)); Osold:=Cum(trVal*tr)/Cum(tr); { Plot in own window } Obought;avg;Osold;TSI { Reference "True Strength Index" indicator } TSI:=Fml("True Strength Index"); oBought:=FmlVar("True Strength Index","OBOUGHT"); oSold:=FmlVar("True Strength Index","OSOLD"); avg:=FmlVar("True Strength Index","AVG"); { TSI signals } entry:=Cross(TSI,oSold); exit:=Ref(TSI>oBought,-1) AND TSI<Ref(TSI,-1) OR Cross(avg,TSI) OR Cross(oSold,TSI); { Clean signals } init:=Cum(IsDefined(entry+exit))=1; bin:=ValueWhen(1,entry-exit<>0 OR init,entry); long:=bin*(Alert(bin=0,2) OR init); short:=(bin=0)*(Alert(bin,2) OR init); signals:=long-short; { Plot in own window } signals ====================================================== [color=red:97b023b58b][/color][size=9:97b023b58b][/size:97b023b58b]

Hi Jose, Unfortunately the cut and paste of both the formulae as indicated below did not plot as it has errors which my very limited Metastock knowledge is unable to resolve. [code:1:4fd324329a]{ True Strength Index (TSI) v2.0 ©Copyright 2003~2005 Jose Silva. The grant of this license is for personal use only - no resale or repackaging allowed. All code remains the property of Jose Silva. http://www.metastocktools.com } { User inputs } pdsRoc:=Input("ROC periods",1,252,3); pdsEma:=Input("EMA periods",1,252,5); smooth:=Input("smoothing EMA periods",1,252,21); { TSI } TSI:=100* Mov(Mov(ROC(C,pdsRoc,%),pdsEma,E),smooth,E)/ Mov(Mov(Abs(ROC(C,pdsRoc,%)),pdsEma,E),smooth,E); avg:=Cum(TSI)/Cum(IsDefined(TSI)); { Auto over-Bought/Sold levels } pk:=Ref(TSI,-1)=HHV(TSI,3) AND TSI>0; pkVal:=ValueWhen(1,pk,Ref(TSI,-1)); Obought:=Cum(pkVal*pk)/Cum(pk); tr:=Ref(TSI,-1)=LLV(TSI,3) AND TSI<0; trVal:=ValueWhen(1,tr,Ref(TSI,-1)); Osold:=Cum(trVal*tr)/Cum(tr); { Plot in own window } Obought;avg;Osold;TSI { Reference "True Strength Index" indicator } TSI:=Fml("True Strength Index"); oBought:=FmlVar("True Strength Index","OBOUGHT"); oSold:=FmlVar("True Strength Index","OSOLD"); avg:=FmlVar("True Strength Index","AVG"); { TSI signals } entry:=Cross(TSI,oSold); exit:=Ref(TSI>oBought,-1) AND TSI<Ref(TSI,-1) OR Cross(avg,TSI) OR Cross(oSold,TSI); { Clean signals } init:=Cum(IsDefined(entry+exit))=1; bin:=ValueWhen(1,entry-exit<>0 OR init,entry); long:=bin*(Alert(bin=0,2) OR init); short:=(bin=0)*(Alert(bin,2) OR init); signals:=long-short; { Plot in own window } signals [/code:1:4fd324329a] Can you please assist again? Many thanks, Reg Sinha

Hi Jose, Thank you for again looking into this issue which I think promises to be a good indicator combined with some other confirming signals. Unfortunately, after faithfully following your instructions and combined with my total lack of know how, I received this error message. Can you please help me why I still managed to stuff up as to what seems a very straight forward solution by your :oops: Thanks.

Jose, Thanking you very much for your perseverance and generosity with your time and patience. :D It now works, and the next challenge is to find other confirming signals and learn how to code in Metastock. Reg