This is a composite TSI (trend strength index) version indicator
Mladen : It allows tsi up till 5th degree calculation,here is comparison in upper picture- in upper sw is the first degree (regular tsi) ,midle is the second order tsi and lowest sw is the third order tsi,as you can see the higher orders are smoother,but it is not the smoothing that is applied to it but the way of calculation TSI is altered in order to get that kind of results - otherwise we would just add lag . instead we have almost NO LAG at all and the smoothing and cycle identification comes at minimal cost
Thanks to Mladen for this pretty toy
