Ergodic Indicator

{TXAverage function

FORMAT: TXAverage(Price,r,s,u) }

Inputs: Price(NumericSeries), r(NumericSimple),s(NumericSimple),
u(NumericSimple);

TXAverage = XAverage(XAverage(XAverage(Price,r),s),u) ;

Type: Function, Name: TSI

{TSI function = True Strength Index by Bill Blau}

{FORMAT: TSI(Price,r,s,u)
Where: r = length of first EMA smoothing of 1 day momentum,
s = length of second EMA smoothing of 1 day smooting,
u = length of third EMA smooting of 1 daymomentum.}

Inputs:
Price(NumericSeries), r(NumericSimple), s(NumericSimple),

u(NumericSimple);

Value1= 100*TXAverage(Price-Price[1],r,s,u) ; { Numerator }

Value2=TXAverage(AbsValue(Price-Price[1]),r,s,u) ; { Denominator }

If Value2 <> 0 then TSI = Value1 / Value2

Else TSI = 0;

Type: Indicator, Name: Ergodic Indicator

{Ergodic Indicator:}

{from William Blau's book --- "Momentum, Direction and Divergence"
FORMAT: Ergodic_TSI(Price, r, s, u,, SmthLen)
where r = length of first EMA smoothing of 1 day momentum,
s = length of second EMA smoothing of 1 day smooting,
u = length of third EMA smooting of 1 daymomentum,
SmthLen = length of ema signal line.

This is plotting the Average only (value2)}

Inputs: Price(c), r(7), s(27), u(1), Zeroline(0), SmthLen(7),
upcolor_1(green), downcolor_1(red), dotsize(2);

Value1= TSI(Price, r, s, u);

Value2= XAverage(TSI(Price, r, s, u), SmthLen);

If value2 > value2[1] then
Plot3(Value2, "SigLin", upcolor_1, default, dotsize);

If value2 < value2[1] then
Plot3(Value2, "SigLin", downcolor_1, default, dotsize);