Blau Ergodic True Strength Index
The Blau Ergodic True Strength Index (TSI) Indicator is a modified version of the traditional TSI indicator, incorporating additional features. Specifically, it includes a double smoothed momentum formula with one smoothing fixed at five price bars and a further Exponential Moving Average (EMA) smoothing, creating its signal line. This indicator also recognizes if it's operating under "Ergodic" or "regular" TSI settings and comes with three coloring modes to aid decision-making, providing potential signals through signal line crosses, zero line crosses, and changes in TSI line slope direction.