Blau TS I
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Blau TS I
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
True Strength Index indicator by William Blau (see ).
True Strength Index
(TSI, q-period smoothed Momentum) - is a normalized Momentum indicator developed by William Blau. The indicator values are normalized and mapped into the [–100,+100] interval.
The positive values of TSI correspond to overbought, the negative values correspond to oversold states of the market.
WilliamBlau.mqh must be placed in
terminal_data_folder
\MQL5\Include\
Blau_TSI.mq5 must be placed in
terminal_data_folder
\MQL5\Indicators\
Input parameters:
q - Momentum smoothing period (default q=2);
r - period of the 1st EMA, applied to Momentum (default r=20);
s - period of the 2nd EMA, applied to result of the first smoothing (default s=5);
u - period of the 3rd EMA, applied to result of the second smoothing (default u=3);
AppliedPrice - (by default AppliedPrice=PRICE_CLOSE).
Note
:
q>0;
r>0, s>0, u>0. If r, s or u =1, smoothing is not used;
Min. rates =(q-1+r+s+u-3+1).
