Trend Shift Indicator v2.0 [Bradford Fournier]

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:

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

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

BradfordFournier

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

BradfordFournier