The Fib TSI indicator uses Fibonacci numbers input for the True Strength Index moving averages. Then it is converted into a stochastic 0-100 scale.
The Fibonacci sequence is the series of numbers where each number is the sum of the two preceding numbers. 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610...
TSI uses moving averages of the underlying momentum of a financial instrument.
Stochastic is calculated by a formula of high and low over a length of time on a scale of 0-100.
How to use Fib TSI: 100 = overbought 0 = oversold Rising = bullish Falling = bearish crossover 50 = bullish crossunder 50 = bearish
The default input settings are: 2 = Stoch D smoothing
3 = TSI signal TSI uses 2 moving averages compared with each other.
5 = TSI fastest TSI uses 2 moving averages compared with each other. Default value is 3/5. color = white
8 = TSI fast TSI uses 2 moving averages compared with each other. Default value is 5/8. color = blue
13 = TSI mid TSI uses 2 moving averages compared with each other. Default value is 8/13. color = orange
21 = TSI slow TSI uses 2 moving averages compared with each other. Default value is 13/21. color = purple
34 = TSI slowest TSI uses 2 moving averages compared with each other. Default value is 21/34. color = yellow
55 = Stoch K length
All total / 5 = All TSI color rising above 50 = bright green color falling above 50 = mint green color falling below 50 = bright red color rising below 50 = pink
Up bullish reversal = green arrow up bullish trend = green dots Down bearish reversal = red arrow down bearish trend = red dots
Horizontal lines: 100 75 50 25 0
2 different visual options example snapshot:
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add cross options: bullish crossover 25, 50, 75 = green tiny triangle up bearish crossunder 25, 50, 75 = red tiny triangle down
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9/16/23 Fib Tsi update to 1.1 1) add input for total average TSI of all rising or falling length bars ago. 2) change color options for all TSI based on rising or falling. 3) add parameters for long small arrow up to crossover 1, 2, 3, 4, 5, 6, 7, 8 or 9. 4) add parameters for short small arrow down to crossunder 99, 98, 97, 96, 95, 94, 93, 92, or 91. 5) add parameters for crossover tiny arrow up to crossover 10, 20, 30, 40, 50, 60, 70, 80, or 90. 6) add parameters for crossunder tiny arrow down to crossunder 90, 80, 70, 60, 50, 40, 30, 20, or 10.
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10/30/23 update: 1) add Macro lengths 55, 89, 144, 233 & 377. 2) add All lower TSI histogram option. 3) add All Macro TSI histogram option.