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TSI - True Strength Index

Posted in Indicators of technical analysis

The True strength index (also known as TSI indicator) was developed by William Blau. He published it in the “Technical Analysis of Stocks and Commodities” magazine in 1991 but we also suggest you reading his book “Momentum, Direction and Divergence” (1995). TSI indicator is in fact a momentum oscillator. The basic idea that stands behind it is to show both – the strength of the current trend and the overbought (or oversold) conditions. 

TRIX indicator

Posted in Indicators of technical analysis

TRIX indicator is an abbreviation of ‘TRIple eXponential’ as it is based on triple smoothed exponential moving average. It was developed by Jack Hutson, an editor for Technical Analysis of Stocks and Commodities magazine, in the early 1980’s. In fact, TRIX indicator is an oscillator (it oscillated around its centerline) that combines trend (moving averages are trend-following indicator) with its momentum. The main idea that stands behind TRIX is to filter price noise and insignificant price moves, so technical analysts can better see the trend and how much it dominates. 

CMO - Chande Momentum Oscillator

Posted in Indicators of technical analysis

Chande Momentum Oscillator (also known as CMO indicator) was developed by Tushar S. Chande – a well known technical analyst and futures markets trader and the author of ‘Beyond technical analysis’ book. The CMO indicator has been described first in another widely acclaimed book ‘The new Technical Trader’ (Tushar S. Chande and Stanley Kroll, year 1994).

CMO is similar to other momentum oscillators (e.g. RSI or Stochastics). Alike RSI oscillator, the CMO values move in the range from -100 to +100 points and its aim is to detect the overbought and oversold market conditions. Unlike the RSI oscillator, CMO calculates the price momentum on both – the up days as well as the down days. The CMO calculation is based on non-smoothed price values meaning that it can reach its extremes more frequently and the short-time swings are more visible.

Zig Zag indicator

Posted in Indicators of technical analysis

Zig Zag (also zigzag indicator) is popular especially among technical traders whose aim is to identify current trend on the market. This indicator is used to remove the market noise from the price chart, so the trend can become much clearer. Unlike other indicators of technical analysis it does not compute exact numbers that would signalize the right time to sell or buy. It is more like chart patters – it is being drawn in a chart and makes the trend (also price swings) more visible. Zig Zag calculation can be based on more types of prices. It is usually calculated on Close prices, but can also be based at the High and Low average prices or OHLC prices.

HMA - Hull Moving Average

Posted in Indicators of technical analysis

HMA indicator is a common abbreviation of Hull Moving Average. The average was developed by Allan Hull and is used mainly to identify the current market trend. Unlike SMA (simple moving average) the curve of Hull moving average is considerably smoother. Moreover, because its aim is to minimize the lag between HMA and price it does follow the price activity much closer. It is used especially for middle-term and long-term trading.

KAMA indicator - Kaufman Adaptive Moving Average

Posted in Indicators of technical analysis

KAMA is an abbreviation of Kaufman Adaptive Moving Average. This indicator of technical analysis was created by an American trader Perry Kaufman (he is also an expert in creating algorithmic trading programs).
KAMA indicator belongs to into the group of adaptive moving averages. Moving averages, generally, follow the price and its development for a certain period of time. E.g. if a trader decides to calculate 10-day Simple moving average, the actual moving average value is calculated always from the last 10 days. Sometimes a greater weight can be put on the most actual days, like Weighted moving average does, but the important thing is that the 11th day does not have any effect on the calculation as it falls beyond the selected time range.