True Strength Index (TSI)
The True Strength Index (TSI) is a momentum-based indicator, developed by William Blau. Designed to determine both TSI, or the True Strength Index is a momentum-based indicator, was designed by William Blau. The TSI is suitable for intraday time frames as well as long term trading and helps to define trend and oversold/overbought conditions.
The True Strength Index is a version of the Relative Strength indicator. It uses a double smoothed EMA of price momentum to diminish constant price changes and pay attention to spot trend shifts with little or zero lag. An increasing True Strength value demonstrates increasing momentum in the direction of the price movement.
Long Term is the First Period and Short Term is the Second Period used in the double exponential smoothing of momentum.