Based on the Elder Force Index (EFI) indicator, the Viral Force Index (VFI) attempts to normalize the original indicator by plotting EFI on the interval ]-100, 100 [.
VFI comes with a bar coloring feature, allowing users to get an idea of the current value of the indicator without having to look away from the chart.
Additionally, the linear regression line...
This is a redesign of the Chandelier Exit indicator. It removes stupid transitions between Chandelier Exit' states and highlights initial points for both lines.
This indicator was originally developed by Charles Le Beau and popularized by Dr. Alexander Elder in his book "Come Into My Trading Room: A Complete Guide to Trading" (2002).
In short, this is a...
I've always been intrigued by the Elder Impulse System but found it labour intensive with its flipping back and forth between daily and weekly charts. I also wasn't fond of the way it repainted the candlesticks. So I set out to build a version where you could get every trade signal filtered down in one chart and still see the real price action.
Elder-Ray Bear and Bull Power
Dr. Alexander Elder cleverly named his first indicator Elder-Ray because of its function, which is designed to see through the market like an X-ray machine. Developed in 1989, the Elder-Ray indicator can be applied to the chart of any security and helps traders determine the strength of competing groups of bulls and bears by gazing...
This indicator was based on the Elders Impulse System by astraloverflow.
The only difference is that I included the weekly EMA26 as a filter and you can plot it on the graph if you want (unchecking the Weekly EMA26 won't turn the filter off, will only stop plotting it).
The indicator works this way:
When the MACD Histogram is growing UP, the EMA13 is pointing...
The idea is to combine Elder Impulse System with AutoEnvelope. It's usefull for free accounts to have more indicators on chart.
So what would on chart:
- fast ema
- slow ema
- Bar colour changed after signals of upcending/discending fast ema + upcending/discending macd
I've used Elder Impulse System by samuel16 and Elder's AutoEnvelope indicator...
Plots three Average True Range channels as described in Alexander Elder's "The New Trading for a Living".
You can adjust the EMA and ATR days that are the basis of these channels.
This is my first script – happy to get any feedback on this! Thanks :)
This indicator was originally developed by Daniel Fernandez (Currency Trader magazine, 2011).
It is based on the two well-known indicators by Dr. Alexander Elder - Bulls Power and Bears Power.
1) Long when Bull and Total lines indicate 100 (it happens rarely)
2) Short when Bear and Total lines indicate 100 (it happens rarely)
An Exponential Moving Average (EMA) with three sets of channel lines each one Average True Range (ATR) apart, above and below the EMA. Fully customizable, you can toggle the EMA and ATR set visibility, line colors, etc.
Inspired by Elder's 'The New Trading For a Living' , page 93: "Kerry Lovvorn likes to plot 3 sets of lines around a moving average: at one, two,...
This indicator is elaborated following the 3 window strategy described by Elder.
The fast, slow averages and MACD histogram are taken from a time frame 5 times higher than the active time frame and indicate bullish / bearish trends as well as divergences (bottom) of the hostogram with the price.
The impulse system :
The Impulse System combines two simple but powerful indicators.
One measures market inertia, the other its momentum. When both
point in the same direction, they identify an impulse worth following.
We get an entry signal when both indicators get in gear.
The Impulse System uses an exponential moving average to find
uptrends and downtrends....
A Double Exponential Moving Average (DEMA) with three sets of channel lines each one Average True Range (ATR) apart, above and below the DEMA.
Similar to my "ATR Channels" indicator, but using a DEMA instead of an EMA for the base. In addition, this indicator also plots a fast DEMA as well as a fill between the two. Fully customizable, you can toggle both DEMAs,...
This indicator is coded to have all the setting to have the triple screen trading system by Dr . Alexander Elder. You can use different oscillator and can switch between elder force index (for more active traders) and stochastic (for more conservative approach) you just have to check or
uncheck the relative button on the indicator setting, it will switch...