Forex indicator TSI MACD is a combination of two popular oscillators, which gives timely and accurate signals to enter the market.
TSI MACD indicator is an oscillator resulting from a combination of MACD and TSI indicators. If all traders are familiar with the MACD indicator, then not everyone knows the TSI indicator. The TSI (True Strength Index) indicator is an index of true strength, which is calculated as the price momentum value twice exponentially smoothed.
The principle of operation of the TSI MACD indicator is that the initial calculation does not come from the price momentum as in TSI, but from the MACD values (calculated as the difference between the MACD value on the last bar with the MACD value on the previous one).
Intersection of indicator lines
- The TSI MACD line (blue on the chart) crosses the signal line (red) upwards – signal to open buy position.
- TSI MACD line crosses the signal line from top to bottom – signal to open sell position.
Crossing overbought and oversold zones
- If the price is above the +70 level, it is possible that the currency pair is overbought; we should expect the price to fall, and when the TSI MACD line crosses the +70 level from top to bottom – that’s a sell signal.
- If the price is below the -70 level, the pair is probably oversold, we should expect the currency pair to move up and when the TSI MACD line crosses the -70 level upwards, a buy signal is generated.
- Like any other oscillator, the TSI MACD indicator allows you to track all types of divergences.
Features of TSI MACD MT4 indicator
- Platform: Metatrader 4
- Ability to change settings: Yes
- Timeframe: any from 1 Minute to Daily
- Currency pairs: any
In TSI_MACD.zip file you will find:
Download TSI MACD MT4 indicator for free: