True Strength Index (TSI)
The True Strength Index (TSI) is a variation of the Relative Strength Index (RSI). The TSI uses a double smoothed exponential moving average of price momentum to eliminate choppy price changes and spot trend changes. This indicator has a little or no time lag.
The True Strength Index was developed by William Blau and is described in his 1995 book Momentum, Direction, and Divergence.
Formula:
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