ForceIndex

Description

The Force Index study combines volume and price movements for market analysis. It is calculated as EMA of volume multiplied by difference between the Close price and its previous value.

High positive values of Force Index suggest that the market is in uptrend mode, while low negative values indicate the downtrend. Values fluctuating around zero level suggest that market is non-trending.

 

Input Parameters

Parameter Description
length The number of bars used to calculate the average.

Plots

Plot Description
FI The Force Index.
ZeroLine The zero level.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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