Force Index

The Force Index (FI) was authored by Alexander Elder. The FI is a price/volume oscillator that may be used to determine if a trend is strengthening or weakening. The user may change only the period length. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using Force Index

No trading signals are calculated for this indicator.

How To Access in MotiveWave

Go to the top menu, choose Study>General>Force Index

or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.

Important Disclaimer: The information provided on this page is strictly for informational purposes and is not to be construed as advice or solicitation to buy or sell any security. Please see our Risk Disclosure and Performance Disclaimer Statement.

Calculation

//period = user defined, default is 13
//prev = previous, ema = exponential moving average
//index = current bar number

prevClose = close[index-1];
rawForce = (close - prevClose) * getVolume(index);
Plot: FI = ema(index, period, rawForce);