Force Index
The Force Index AFL in Amibroker quantifies market strength based on price changes and trading volume. Utilizing Amibroker data feed, this indicator measures the force behind price movements. Traders rely on the Force Index to identify potential reversals or confirm trends, optimizing trade entries and exits.
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//
// Alexander Elder´s classic force index indicator
//
// I use them on swedish stocks, weekly.
//
// The rules are easy:
//
// If the indicator is below zero AND there is a bullish divergence, then go
// LONG
//
// If the indicator is above zero AND there is a bearish divergence, then go
// SHORT
//
// Works well when you have a head and shoulder or a triangular formation
// against the zeroline.
//
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/*Made by Thomas Youssef, 2005-01-15
Alexander Elder´s classic force index indicator
I use them on swedish stocks, weekly.
The rules are easy:
If the indicator is below zero AND there is a bullish divergence, then go LONG
If the indicator is above zero AND there is a bearish divergence, then go SHORT
Works well when you have a head and shoulder or a triangular formation against the zeroline.
*/
_SECTION_BEGIN("Force index");
FI=EMA(((C-Ref(C,-1))*V),13);
Plot(FI,"FI",12,5);
Plot(0,"ZERO LINE",colorWhite,styleThick);
_SECTION_END();
_SECTION_BEGIN("EMA1");
P = ParamField("Price field",-1);
Periods = Param("Periods", 15, 2, 200, 1, 10 );
Plot( EMA( P, Periods ), _DEFAULT_NAME(), ParamColor( "Color", colorCycle ), ParamStyle("Style") );
_SECTION_END();