Mark Brown Products for TradeStation 4 and 2000i

Mark Brown Products for TradeStation 4 and 2000i.

Elder Force Index version 1.00 by Mark Brown

This item includes Indicator, System and Paint Bars. The Indicator will plot thirty six variations of the Elder Force Index. The System will optimize thirty six variations of the Elder Force Index. The Paint Bars also feature thirty six variation possibilities of the Elder Force Index. Normally an oscillator of this type will trigger buy and sell points above and below a Center Zone. This version of the Elder Force Index performs this function as well. Also utilized are High and Low Zones which can be used in conjunction with the built in filtering algorithms of the study itself.

Indicator features thirty six variations. Six different formulas plotted with six different styles. Eight separate input parameters can be used to customize plotting parameters.
System features thirty six variations. Six different formulas with six different trigger criteria. Eight separate input parameters can be used to optimize systems performance.
Paint Bars feature thirty six variations. Six different formulas with six different trigger criteria. Eight separate input parameters can be used to customize plotting parameters.

Description

The force index is calculated by subtracting yesterday's close from today's close and multiplying the result by today's volume. If closing prices are higher today than yesterday, the force is positive. If closing prices are lower than yesterday's, the force is negative. And the strength of the force is determined either by a larger change in price or a larger volume - either situation can independently influence the value and the change in force index.

The raw value of force index is plotted as a histogram, with the center line set to zero. A higher market will result in a positive force index, plotted above the center line; a lower market points to a negative force index, below the center line. An unchanged market will return a force index directly on the zero line. Because the raw line that is plotted over the day-to-day on the histogram forms a jaggedness, the moving average smooths the line - at minimum, you'll want to use a two-day exponential moving average (EMA) for the appropriate level of smoothing.

Interpretation

In general, traders will want to buy when the two-day EMA of force index is negative and sell when it is positive. These traders, however, should always keep in mind the overarching principle of trading in the direction of the 13-day EMA of prices. The 13-day EMA of force index is a longer-term indicator, and, when it crosses above the centerline, the bulls are exerting the greatest force. When it is negative, the bears have control of the market. Of particular importance are divergences between a 13-day EMA of force index and prices, which correspond with precise points indicating crucial turning points of the market.

As indicated by closing prices, the difference between yesterday and today's close gives the degree of the day-to-day victory of either the bulls or the bears. Similarly, volume is added into the calculation to give a greater sense of the degree of bulls or bears' victories; volume also indicates the level of momentum in the market as propelled by the power of either bulls or bears. Force index is one of the best indicators for combining both price and volume into a single readable figure. When force index hits a new high, a given uptrend is likely to continue. When force index hits a new low, the bears have greater strength and the downtrend will usually sustain itself.

A flattening force index is also an important situational circumstance for traders. A flattening force index means that the observed change in prices is not supported by either rising or declining volume and that the trend is about to reverse. On the opposite side of the matter, a flattening force index could indicate a trend reversal if a high volume corresponds with only a small move in prices.

Custom programmed Products for TradeStation 4 and 2000i platform.

1.) Source code open for your viewing and or modifications.
2.) Both .ELA and PDF versions of product will be sent in a zip file.
3.) No requirement to provide TradeStation Customer ID number.
4.) Payment method accepted - PayPal only.
5.) Payment must be made within 48 hours of purchase - all sales are FINAL.
6.) Shipping and Handling: Free via internet transmission only.
7.) Method of delivery: Product sent via attachment to PayPal e-mail address.
8.) Transmission of product usually occurs within 24 hours of payment notification.
9.) Technical support NOT provided for importing product or any other type support.
10.) Purchase constitutes an agreement that the terms of this license are accepted.

Product	Cost	Method
Elder Force Index version 1.00 by Mark Brown	$150.00
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