Based on the Elder Force Index (EFI) indicator, the Viral Force Index (VFI) attempts to normalize the original indicator by plotting EFI on the interval ]-100, 100 [.
VFI comes with a bar coloring feature, allowing users to get an idea of the current value of the indicator without having to look away from the chart.
Additionally, the linear regression line...
Elder's Force Index (EFI) mengukur kekuatan pergerakan harga dengan menggunakan harga dan volum. Petunjuk ini juga boleh digunakan untuk mengenalpasti potensi keterbalikan dan pembetulan harga. EFI merupakan sejenis pengayun yang bergerak secara turun naik di antara nilai positif dan nilai negatif, ke atas dan ke bawah Zero Line. Alexander Elder, pencipta petunjuk ini berpendapat terdapat tiga komponen penting untuk pergerakan harga sekuriti. Komponen-komponen ini merupakan; arah, tahap dan volum. Ketiga-tiga komponen ini digabungkan oleh EFI untuk menghasilkan pengayun.
Based on the Elder's Force Index (EFI) , +/- of the EFI and its ema is used to describe the rise, fall or possible reversal of the market, and finally shown by bar color.
The green bar represents a strong bull and the red bar represents a strong bear;
The blue bar indicates that the downtrend is exhausted and may rise. Likewise the yellow bar.
Of course, it is...
I had searched for a proper indicator to recognize important impulses, so I just need to take a look at the indicator to quickly find them on the chart. Alexander Elder's Force is the answer, although I made a few changes to the design.
First, I found more accuracy using Hull Moving Average. It steers faster making sudden spikes even more visible. Second, it is...
Inspired by the new version of the "Force Index" announced by Dr. Alexander Elder a few years ago - "Elder Force Index With ATR Channels".
Unfortunately original version of script only works on MetaTrader platforms, so this is an attempt to
implement this great idea on TradingView...
This is the traditional Force Index indicator developed by Alexander Elder and described in his book "Trading For a Living" . As you probably know, the Force Index measures the amount of power used to move the price of an asset. The formula is pretty simple - the difference between the current and the previous close is multiplied by the volume of the current...
The Relative Strength Index (RSI) , developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements.
• Traditionally the RSI is considered overbought when above 70 and may be primed for a trend reversal or corrective pullback in price, and oversold or undervalued condition when below 30. During strong trends, the RSI...
What is the force index ?
The force index is an oscillator used to confirm price breakout strengths and identify potential trends.
It was popularized by A. Elder.
How the force index is computed ?
Knowing that volume is the fuel of a price movement, reliable breakouts and trend continuation are more likely to occur on high volume breakouts. This is why the...
Force Index is an oscillator. It combines volume with prices
to discover the force of bulls or bears behind every rally or decline.
It brings together three essential pieces of information the direction of price
change, its extent, and the volume during that change. It provides a practical way of
using volume for making trading decisions.
Force Index can be...
Here is the updated version of our Pulse Profits+ study based on the combination of the Chande Momentum Oscillator and Elder's Force Index . This version was updated to include stop-loss and improved signals
Red background highlights mark sell signals and green highlights represent buy signals. All signals are accompanied by corresponding alerts that can be...
TradingView has built in functions for RSI, Momentum, and many other oscillators. Why the source isn't available for Elder's Force Index is beyond me. To me it's one of the Holy Grail indicators. This is EFI indicator with a simple function inside the source code. You're can easily copy this function into any study(indicator) or strategy that uses built-in...
The indicator is taken from Alexander Elders "Triple Screen System," minus using the Weekly MACD as a filter/trend. I believe waiting for the force index and the weekly MACD histogram to line-up is uber conservative and a trader will miss too many signals (In my opinion).
The indicator is for a pullback trader. A trader that waits for a trend to develop then...
Identify Divergences on 6 oscillators simultaneously.
From the bottom up.
0 to 1 (black): MACD
1 to 2 (green): Elders Force Index
2 to 3 (blue): RSI
3 to 4 (purple): Awesome Oscillator
4 to 5 (red): Commodity channel index
5 to 6 (orange): Stochastic
You can change the identification of the divergence in the settings and use the Oscillator Divergences ...
The idea is to see Elder's force index smoothed EMA in different time frame simultaneously.
Default intervals are (2) and (13)
Base on samuel16 script.
Market temperature, introduced by Dr.Alexander Elder, helps differentiate between sleepy, quiet and hot market periods.
Following is Mr.Elder's explanation on how to use this indicator (from his book "Come in to my Trading Room"):
"When markets are quiet, the adjacent bars tend to overlap. The consensus of value is well established, and the crowd does little...
Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bear Power measures the ability of sellers to...
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