Introduction
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.
The script URL can be found down below
Indicator settings
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.
Methodology
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
We offer many indicators and also complete trading frameworks.
We made the heavy-leg work during 7 years for our community and selected the best convergence of indicators to be used for each asset class and timeframes.
We will never promise gains but we could almost guarantee you'll save a lot of time/sweat/even years by using our algorithmic trading frameworks already used by a large community of traders
More info on our Pricing Plans and Guides
Script URL
The trading script is available on TradingView
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