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Boomerang indicator system at

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Trading Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
Posts: 495 since Oct 2009
Thanks: 400 given, 627 received

perryg View Post
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.

Please do upload to the downloads section. It would be appreciated.


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