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Ergodic indicator (EO)

This indicator is a double smoothed True Strength Index (TSI) with a signal line.

Example

In this example you can see the Ergodic Indicator and the Ergodic Oscillator.

Interpretation

The indicator acts like a stochastics indicator, but without any compression at the extremes. This means you can use it to register long trends in prices.

A sell signal is given when the market is overbought.
A buy signal is given when the market is oversold

Calculation

Ergodic indicator = Ttrue Strength Indicator
Ergodic Signal Line = Exponential Moving Average of the TSI
Ergodic Oscillator = TSI - Exponential Moving Average of the TSI

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