PROTECTED SOURCE SCRIPT
Trend Shift Indicator v2.0 [Bradford Fournier]
Updated
TSI v2.0-- Early Trend Shift Indicator Version 2.0
PURPOSE: This indicator detects early changes in trends and provides confirmation
TSI aims to do the following simultaneously:
SIGNALS
EARLY SELL: Green peaked and decreasing
SELL: GREEN TO RED
(STRONG SELL: TSI peaked and crossunder "overbought input(180)")
BUY: RED TO GREEN
NOTE: Version 1 is still operative and updated. This is simply an alternative version for those who prefer it. SEE CHANGES BELOW
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VERSION 2 CHANGES:
PURPOSE: This indicator detects early changes in trends and provides confirmation
TSI aims to do the following simultaneously:
- detect trend changes early
- provide a means of trend confirmation -- while still being early in the cycle change
- provide an early indication of trend changing away from positive.
SIGNALS
EARLY SELL: Green peaked and decreasing
SELL: GREEN TO RED
(STRONG SELL: TSI peaked and crossunder "overbought input(180)")
BUY: RED TO GREEN
NOTE: Version 1 is still operative and updated. This is simply an alternative version for those who prefer it. SEE CHANGES BELOW
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VERSION 2 CHANGES:
- Earlier reversal indications.
- Dynamic risk range. (yellow filler)
[*}Overlay for signal confirmation
Release Notes
1. Minor changes to overbought signal. 2. +/- 5 min of open close not filled by indicator.
Default moving average for signal line changed.
Release Notes
Updated to give user more control over the smoothing of signal line. Updated to give maximum values at different loo-back periods.
Release Notes
Added adaptable TSI high values. Added conservative sell signals (should execute about 1 or 2 per view period.
Release Notes
Fewer false positives. Default length updated
Disclaimer
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