What it does
The Trend Strength Index quantifies how cleanly price has been trending over a lookback window, typically by measuring the correlation between price and time (how close the path is to a straight line). Readings near +1 mean an almost perfectly orderly uptrend, near -1 an orderly downtrend, and near 0 a directionless chop. It grades trend quality rather than momentum size.
Typeoscillatorseparate pane
How to add it
Click Indicators (ƒx) in the header.
Search “Trend Strength Index” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Use it as a strategy switch: readings beyond roughly +/-0.7 favor trend-following entries, readings near zero favor range tactics or standing aside.
- Rising absolute values confirm a developing trend; a decay from high absolute values warns the trend is losing orderliness before price visibly breaks.
- Take breakout signals only when the index agrees with the breakout direction to filter false breaks out of chop.
- Compare across symbols to select the cleanest trender for a trend system.
- Combine with a volatility measure: strong trend plus expanding volatility is the highest-energy state for continuation trades.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Periods | number | 14 | 1–200 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Trend Strength | line | #FF5252 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Resize the pane by dragging its divider; collapse it from the legend row when you need the space back.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
Watch out for
- It measures orderliness, not magnitude: a slow, tiny drift can score as a 'perfect' trend.
- Window choice dominates the reading; a strong short trend inside a larger range can score high or low depending on the lookback.