This indicator works very similarly to Elder's Force Index (EFI) and builds on top of what I have for the Money Flow Line (see my other scripts). It combines price movements with volume to create sort of "dollar flow" pressure up and down, looking for "smart money" ("big money") to make their move.
The indicator uses a lookback period to calculate a standard...
The Trend Direction Force Index, TDFI or TDF Index, is a staple in the Forex community, but is excellent on most asset (i.e. stock) trading.
Developed by Pyotr Wojdyo for metastock trading platform originally, but now on several other.
The idea of the TDFI is that there is enough trend directional force to enter the trade.
How it works:
When the signal 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...
// 2020.7.30 version
// This indicator is for the second filter in Triple Screen Trading System
// force index will combine volume and price together to decide the power of price change
// force index = volume * (Change of Price)
// try to smooth the series of force index by ema force index
// Method to use this index
// This indicator is for the second filter...
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...
The "Range Force Impulse" indicator combines 4 useful indicators into one, freeing up chart real-estate and giving the trader insight into trend health, bull/bear commitment, range and volatility all at a glance.
The indicator consists of the following:
Direction - True Range and Average True Range columns shown above and below 0 depending on direction of...
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...