True Strength Index

Author: Optuma Team Last updated: Jul 25, 2020 05:31
Included in Trader Services Included in Professional Services Included in Enterprise Services


The True Strength Index is a momentum indicator based on two exponential moving averages (typically 25 and 13 periods), with a 7 period EMA used as a signal line.

To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.

Scripting Function: TSI()

Actions & Properties



Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple True Strength Index tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other True Strength Index tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new True Strength Index to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.



Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

EMA 1: The number of bars that are used in the slow-moving average of the oscillator.

EMA 2: The number of bars that are used in the fast-moving average of the oscillator.

Signal Average: The number of bars that are averaged over the oscillator.

TSI Plot Style: Allows you to change how the TSI line is displayed on your chart, such as Line Style, colour and width. There are 6 Line Styles available: Line, Dot, Histogram, Step, Shaded, Shaded Step.

Signal Plot Style: The same options as for TSI Plot Style.

Centre Line Style: The same options as for TSI Plot Style.

Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.

Show In Price Scale: When selected the current Congestion Index value will be displayed in the Price Scale.