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Boomerang indicator system at

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Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
perryg's Avatar
Posts: 1,644 since Jan 2010
Thanks: 508 given, 6,274 received

I use the ForceIndex. An excellent indicator that not a lot know about. It was developed by Dr. Elder along time ago, and basically is as follows:

((CLOSE (Today) - CLOSE(Yesterday)) * Volume(Today). Even though the formula refers to "Today" and "Yesterday", it can be used on Daily, Weekly and Intraday charts as the program counts bars and not days.
If the indicator is above ZERO you are LONG and if below ZERO you are short. It is so simple but gives you the momentum and force of direction.

I use this indicator daily for intraday trading and it keeps me on the right side of the trend. If anybody is interested I can upload it here.

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