Open-source scriptindicator/v1
True Strength Index
Compare double-smoothed price momentum with double-smoothed absolute momentum.
#momentum#oscillator#tsi
Description
The True Strength Index applies two stages of exponential smoothing to price change and its absolute value. The resulting bounded oscillator can help evaluate momentum direction, signal-line crossings, and divergences while filtering short-term noise.
Open-source script. Everyone can inspect the source code, use the script on a chart, and save an editable copy.
Release notes
Version history · 1 published version
Version 1CurrentChart updatedTrue Strength Index · Aug 31, 2026
Source codempl-2.0View sourceHide source
indicator("True Strength Index", { overlay: false });
const longLength = input.int("Long Length", 25, { min: 1, max: 500 });
const shortLength = input.int("Short Length", 13, { min: 1, max: 500 });
const signalLength = input.int("Signal Length", 13, { min: 1, max: 200 });
const source = input.source("Source", "close");
const line = tsi(source, shortLength, longLength).map((v) => v * 100);
const signalLine = ema(line, signalLength);
plot(line, { title: "TSI", color: "#2962ff", lineWidth: 2 });
plot(signalLine, { title: "Signal", color: "#ff6d00" });
hline(0, { title: "Zero", color: "#78909c", style: "dotted" });
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