Force Traders
Force Traders using Amibroker AFL are market participants who base their strategies on the Force Index. Leveraging Amibroker data feed, these traders gauge market strength and momentum to make informed trading decisions. By aligning their strategies with Force Index signals, they optimize their trading approaches.
//*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();