TSI MACD indicator for MetaTrader 4 Download - Free - [TradingFinder]

The True Strength Index MACD (TSI MACD) is an advanced hybrid tool for identifying market depth in MetaTrader 4.

This indicator is developed by combining two popular tools, MACD and TSI, providing a more accurate assessment of trend strength and direction.

The TSI MACD indicator, based on the primary features of both tools and aided by a moving average line and a signal line, allows traders to assess the trend's strength.

Indicator Specifications Table

Conditions for Uptrend

The price chart of the USD/JPY currency pair in the 4-hour timeframe demonstrates how to operate and enter a buy position (Entry).

According to the image, the price trend becomes bullish whenever the blue line crosses the signal line (orange line) upwards and oscillates in the positive phase.

These two lines' intersection points can be considered an entry signal.

Conditions for Downtrend

The price chart of Bitcoin (BTC) in the 1-hour timeframe demonstrates how to operate and enter a sell position (Entry).

According to the image, the price trend becomes bearish whenever the blue line crosses the signal line (orange line) downwards and oscillates in the negative phase.

These two lines' intersection points can be considered an entry signal.

Indicator Settings

• Chart Theme: Indicator theme;
• Fast MA Period: Fast moving average period calculated as 8;
• Slow MA Period: Slow moving average period calculated as 21;
• Signal Period: Signal period set to 5;
• First Smoothing: Initial smoothing parameter set to 8;
• Second Smoothing: Secondary smoothing parameter set to 5;
• Sig Period: Signal line period set to 5.

Conclusion

The TSI MACD indicator combines the features of both tools, providing more precise signals for potential price changes and effectively analyzing price movements and momentum.

This tool is useful for day traders and those seeking short term fluctuations and serves as a reliable index alongside personal analysis.