StockFetcher Forums · Filter Exchange · FORCE INDEX<< >>Post Follow-up
TheRumpledOne
6,362 posts
msg #37794
Ignore TheRumpledOne
9/3/2005 1:53:50 PM

http://www.incrediblecharts.com/technical/force_index.htm

"Developed by Dr Alexander Elder, the Force index combines price movements and volume to measure the strength of bulls and bears in the market. The raw index is rather erratic and better results are achieved by smoothing with a 2-day or 13-day exponential moving average (EMA).

The 2-day EMA of Force is used to track the strength of buyers and sellers in the short term;
The 13-day EMA of Force measures the strength of bulls and bears in intermediate cycles.
If the Force index is above zero it signals that the bulls are in control. Negative Force index signals that the bears are in control. If the index whipsaws around zero it signals that neither side has control and no strong trend exists.

The higher the positive reading on the Force index, the stronger is the bulls' power.
Deep negative values signal that the bears are very strong.
If Force index flattens out it indicates that either (a) volumes are falling or (b) large volumes have failed to significantly move prices. Both are likely to precede a reversal.
The 2-day Force index is used as part of Dr Eder's Triple Screen trading system.

Trading Signals
Only trade in the direction of the trend - indicated by the slope of the 13-day EMA.

Go long if the Force index is below zero and there is a bullish divergence.

Go short if the Force index is above zero and there is a bearish divergence.
Complete trading rules for the Force index can be found in Trading For A Living by Dr Alexander Elder."

Trapper the above is in quotes!

Fetcher[
/* POSITIVE DIVERGENCE FORCE INDEX 2 - 5 DAYS */

set{pd2,count( close below close 2 DAYS ago,1) * count( FI(13) above FI(13) 2

DAYS ago,1)}}


set{pd3,count( close below close 3 DAYS ago,1) * count( FI(13) above FI(13) 3

DAYS ago,1)}

set{pd4,count( close below close 4 DAYS ago,1) * count( FI(13) above FI(13)

DAYS ago,1)}

set{pd5,count( close below close 5 DAYS ago,1) * count( FI(13) above FI(13)

DAYS ago,1) }


Set{p1, pd5 * 1}
Set{p2, pd4 * 10}
Set{p3, pd3 * 100}
Set{p4, pd2 * 1000}

Set{pa, p1 + p2}
Set{pb, p3 + p4}
Set{PD2345, pa + pb}

/* POSDIV is the number of times there was a 2, 3, 4 or 5 day positive divergence

during the past 10 days */

set{POSDIV, count(PD2345 above 0, 10)}

/* PDDAYS is the number of days since there hasn't been a 2, 3, 4 or 5 day

positive divergence */

set{PDDAYS, days(PD2345 EQUAL 0, 100)}


set{fiVAL, INDPOSITION(FI(13), 60)}

add column PD2345
add column posdiv
add column pddays

add column FI(13)
add column fiVAL
add column ema(13)
add column 2 day slope of ema(13)

/* PRICE VOLUME CRITERIA */
CLOSE ABOVE 1
VOLUME ABOVE 1000000

/* FORCE BULLISH GO LONG CRITERIA */
posdiv above 0
FI(13) below 0
2 day slope of ema(13) above 0

DRAW FI(13)
DRAW EMA(13)
DRAW INDPOSITION(FI(13), 250)

/* END FILTER */


]



Someone asked me about the Force Index... looks interesting.

MAY ALL YOUR FILLS BE COMPLETE.


TheRumpledOne
6,362 posts
msg #37795
Ignore TheRumpledOne
9/3/2005 2:00:40 PM

Fetcher[
/* FORCE INDEX AT THE BOTTOM */

set{fiVAL, INDPOSITION(FI(13), 200)}

add column fiVAL
add column FI(13)
add column ema(13)
add column 2 day slope of ema(13)

/* PRICE VOLUME CRITERIA */
CLOSE ABOVE 1
VOLUME ABOVE 1000000

/* FORCE AT THE BOTTOM */
FIVAL BELOW .10

DRAW FI(13)
DRAW EMA(13)
DRAW INDPOSITION(FI(13), 200)

sort column 5 descending

/* END FILTER */

]



HEY SF, run this filter and look at the charts!

The indposition is indicating a bottom but the FI chart shows the value in the middle of the 200 day range... Please advise!!



TheRumpledOne
6,362 posts
msg #37796
Ignore TheRumpledOne
9/3/2005 2:11:24 PM

Fetcher[
/* FORCE INDEX AT THE BOTTOM */

set{fi200, count(fi(13) equal fi(13) 200 day low,1)}
set{fi60, count(fi(13) equal fi(13) 60 day low,1)}
set{fi10, count(fi(13) equal fi(13) 10 day low,1)}

set{a1, fi200 + fi60}
set{filow, a1 + fi10}

add column fi10
add column fi60
add column fi200


add column FI(13)
add column ema(13)
add column 2 day slope of ema(13)

/* PRICE VOLUME CRITERIA */
CLOSE ABOVE 1
VOLUME ABOVE 1000000

/* FORCE AT A BOTTOM */

filow above 0


DRAW FI(13)
DRAW EMA(13)
DRAW INDPOSITION(FI(13), 200)

sort column 5 descending

/* END FILTER */
]



I now I am "forcing" the issue (pun intended) but here's another to find FI at the bottom.

MAY ALL YOUR FILLS BE COMPLETE.



riggs
313 posts
msg #38024
Ignore riggs
9/17/2005 3:12:40 PM

Rump -

If you really want or need a challenge, make a filter for DR. Elders Bull Power / Bear Power. The indicator is called the "Elder Ray" Do this, and I'll deem you "God" of the Tech world. LOL....Yeah, like you haven't already been given that title :) Anyway, looking at all the parameters on this site, I don't think it's possible anyway. Best of luck anyway bro!

Riggs


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