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Elder's Force Index, Bull & Bear Power
rev. 01/06/97 Please refer to Dr. Elder for interpretation.

Here are the formulas for calculating the Elder Ray, and the Force Index.


Elder's Bull Power

H - Mov(C,13,E)

 

 

Elder's Bear Power

L - Mov(C,13,E)

 

To plot the Elder Ray:

  • Create the two custom formulas from above.
  • Open the base security.
  • Plot a 13-Period Exponential Moving Average of the closing price in a newinner window.
  • Drag the Bear Power formula and drop it in a new inner window.
  • Drag the Bull Power formula and drop it in a new inner window.

Or, you may drop all three indicators in the same inner window if you wish.

The formula for the

 


Elder's Force Index

V*(C-ref(C,-1))

 

e-w-Elders_Force_Index.gif
To plot this formula as a histogram, after dropping the formula in aninner window, right click on the indicator and select properties. Select styles and choose the histogram.
Source / From: TOP
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