The force index is a technical indicator that measures the amount of power used to move the price of an asset. The term and its formula were developed by psychologist and trader Alexander Elder and published in his 1993 book Trading for a Living. The force index uses price and volume to determine the amount of strength behind a price move. The index is an oscillator, fluctuating between positive and negative territory. It is unbounded meaning the index can go up or down indefinitely.
This code is simple:
Values = (Close - Close) * Volume;
Values = EMA(Values, Period);
No license. Free to use. Enjoy.
|File Size||3.0 KB|
|# of Downloads||323|
Importing to NinjaTrader 8 is Easy!
To import your 3rd party app or add-on to NinjaTrader, simply follow these 3 steps:
- Download the app or add-on file to your desktop
- From the NinjaTrader Control Center window, select the menu Tools > Import > NinjaScript Add-On…
- Select the downloaded file from your desktop
Visit the NinjaScript File Sharing discussion in the NinjaTrader user forum to interact with fellow traders and the NinjaTrader support team.