Force Index — Indicator by HPotter

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.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 28/04/2014
// 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. 
////////////////////////////////////////////////////////////
study(title="Force Index", shorttitle="Force Index")
XLen1 = input(3, minval=1)
XLen2 = input(13, minval=1)
hline(0, color=green, linestyle=line)
xValue = volume * (close - close[1])
xSMA1 = ema(xValue, XLen1)
xSMA2 = ema(xValue, XLen2)
plot(xSMA1, style = histogram, color=blue, title="SlowAvg")
plot(xSMA2, color=red, title="FastAvg")