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||78|
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