The TSI shadow is basically a True Strength Index (TSI) used in relation to 2 moving averages. We discovered this indicator on the FXCodebase website 2 years ago, and mostly use it for our Indices trading.
A TSI is made of two momentum smoothing inputs
And we add 2 moving averages in the calculation.
This has the goal to give less fakeouts and more secure entries.
Bullish condition: If the TSI plot is greater than the second moving average and first moving average greater than the second moving average
Bearish condition: If the TSI plot is less than the second moving average and first moving average lower than the second moving average
Pricing plans and indicator
The trading script is available on TradingView