Shadow True Strength Index MT5 Indicator
By Fri, 13 Aug 2021

Shadow True Strength Index oscillator with two signal lines (TSI shadows).

It has ten adjustable parameters:

  • Price source – calculation price of the source data, on which TSI (*) is calculated
  • Price source period – calculation period of the source data, on which TSI (*) is calculated
  • First smoothing period – primary smoothing period
  • Second smoothing period – secondary smoothing period
  • First shadow period – first signal line calculation period
  • First shadow method – first signal line calculation method
  • Second shadow period – second signal line calculation period
  • Second shadow method – second signal line calculation method
  • Overbought – overbought level
  • Oversold – oversold level

Calculations:

TSI = 100.0 * UDM2 / ADM2
Shadow1 = MA(TSI, First shadow period, First shadow method)
Shadow2 = MA(Shadow1, Second shadow period, Second shadow method)

where:

UDM2 = EMA(UDM1, Second smoothing period)
ADM2 = EMA(ADM1, Second smoothing period)

UDM1 = EMA(UDM, First smoothing period)
ADM1 = EMA(ADM, First smoothing period)

UDM = Close – PrevClose
ADM = ABS(UDM)

MT5 Indicators – Download Instructions

Shadow True Strength Index MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.

Shadow True Strength Index MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies

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How to install Shadow True Strength Index MT5 Indicator.mq5 to your MetaTrader 5 Chart?

  • Download Shadow True Strength Index MT5 Indicator.mq5
  • Copy Shadow True Strength Index MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
  • Start or restart your Metatrader 5 Client
  • Select Chart and Timeframe where you want to test your mt5 indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
  • Right click on Shadow True Strength Index MT5 Indicator.mq5
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Shadow True Strength Index MT5 Indicator.mq4 is available on your Chart

How to remove Shadow True Strength Index MT5 Indicator.mq5 from your Metatrader 5 Chart?

  • Select the Chart where is the Indicator running in your Metatrader 5 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Shadow True Strength Index MT5 Indicator (Free Download)

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La entrada Shadow True Strength Index MT5 Indicator se publicó primero en ForexMT4Indicators.com.