TSI Strength Meter vs USD with divergence

This indicator consists of two lines. One is a gray line (USD) and the asset indicator is green or red.

The basis of this indicator is the true strength indicator (TSI) with parameters 5,15. Both line sets are based on a TSI (5,15).
The lookback period is for new highs / new lows. Default value is 200 periods.

The first that is green and red is whatever you choose to display ( BTC in this case).
The green and red lines indicate going up or going down.

The gray line is the US Dollar . So everything is relative to that by default.

These are momentum shifts. If you see a crossover of both around the zero line, its a good indication there is a change in momentum and a reversal of trend.

There are 4 new colors added to this indicator. For the asset you are viewing, a lime color means new highs within the lookback period. A new low is indicated by a yellow line color.

The new lows for the USD are white for new lows within the lookback period and blue line for the new highs.


You can also spot divergences easily. For example, if a lime color is seen on the indicator line, that means "new high" but if it occurs below the last "new high" it means the asset is going up to new highs but the indicator is showing us that the readings are below the previous new highs, indicating a negative divergence.

The same goes for the yellow colored lines. higher yellows mean positive divergence.

And with the US Dollar , blue lines dropping means a negative divergence in the US Dollar , while white lines moving up means a positive dollar divergence.


If you see a green and sometimes red line of the asset indicator and a gray line that drops below the zero line; it may mean the asset is rising and the trend is up.

If you see a green and red line below the zero line and with a gray line above the zero line , it indicates there is a negative trend. If you suddenly see blue lines on the USD, this means its hitting new lows. If these blue lines then start to slowly move downwards; then we have a positive divergence. If that were to be followed by the green line crossing the zero line, its a pretty good be that the trend is changing and its a very good buying oportunity.
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?


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