OPEN-SOURCE SCRIPT
Force Index

Hi,
This Indicator plots the Force Index as described by Dr. Alexander
Elder in "Trading For a Living." The ForceIndex indicator relates
price to volume by multiplying net change and volume. ForceIndex is
calculated using the following equation:
ForceIndex = Volume(today) * (Close(this period) - Close(last period))
ForceIndex is typically presented as two smoothed averages (slow and fast)
to avoid false signals.
This Indicator plots the Force Index as described by Dr. Alexander
Elder in "Trading For a Living." The ForceIndex indicator relates
price to volume by multiplying net change and volume. ForceIndex is
calculated using the following equation:
ForceIndex = Volume(today) * (Close(this period) - Close(last period))
ForceIndex is typically presented as two smoothed averages (slow and fast)
to avoid false signals.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.