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We are excited to introduce our newest indicator, DSI, short for Dynamic Strength Indicator. This indicator helps you to navigate the market up and down swings even through changes in cycles and quick momentum shifts. At it’s core it is a measure of Relative Strength (RSI) but charted onto a backdrop of dynamic bands that give the reading a useful context and actionable signals. These bands are calculated based on cyclical formulas after determining a dynamically adjusting dominant cycle period. This adjusting dominant cycle is generated from a composite of different methods all based on the work of John Ehlers.
The primary signal (red or green background highlight bars) indicate the point at which the RSI crosses from the dynamic overbought or oversold area. Additionally there is a smoothed signal line that measures RSI momentum and crosses are denoted with the red and green dots on the line (you can optionally turn on the signal line itself in the settings to actually judge how quickly momentum is changing). Finally we also mark normal (large green/red triangles) and hidden (small green/red triangles) divergences which are often even stronger indications of directional change than the normal signals. Please note that due to the way divergences are calculated (requiring a confirmed pivot) these divergences will show up 1 bar late and may appear/disappear while that bar is painting. Once that bar closes (so 2 bars late) it will no longer repaint. There are also dotted lines at the traditional 30/70 levels provided to give more context to the current strength range spread and general zone.
The “Sample Period” configuration setting is the only input on the front end of a ton of math that first calculates dominant cycle length and then goes on to calculate the cyclical strength range that the RSI travels around. The default of 20 should work for most assets and timeframes, but you can experiment with other values such as 12, 14, 30, etc… to meet your specific use cases. Sometimes (very rarely) all this math will make the indicator script timeout and TradingView will just display an error. This can usually be remedied by click the eye icon (hide) in the indicator title and then clicking it again (show).
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