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Elder Impulse System
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Created: by Pazan Attachments:3

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Elder Impulse System

  #11 (permalink)
@ Germany
Trading Experience: Beginner
Platform: NinjaTrader
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Rockford View Post
Fat Tails,
I've been looking for the Elder Impulse System for v7.0... thank you very much.


Look at Post #8.

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  #12 (permalink)
West Branch, Mi, USA
Trading Experience: Intermediate
Platform: Sierra Chart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ, CL
Posts: 59 since Nov 2012
Thanks: 10 given, 10 received

Hi Koepisch,

Yes, I downloaded Fat Tails 'Elder Impulse Indicator' yesterday, that's why I said Thank you.


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  #13 (permalink)
New York NY USA
Trading Experience: Beginner
Platform: esignal, ninjatrader,
Favorite Futures: Stocks
Posts: 114 since Oct 2012
Thanks: 59 given, 32 received

I could be wrong, but when I looked at the code for the 6.5 version of the elder script I think it had the indicator wrong. I believe that the elder is supposed to compare a 13 day EMA with a previous 13 day EMA. Then it was supposed to look at the MACD histogram. If both of these are trending positive you have a buy signal, or if both are trending negative you have a sell signal. In that script it simply compared a 13 day EMA to the MACD histogram.

I believe that what I described is what Elder originally proposed.
From "stockcharts.com"

Green Price Bar: (13-period EMA > previous 13-period EMA) and
(MACD-Histogram > previous period's MACD-Histogram)

Red Price Bar: (13-period EMA < previous 13-period EMA) and
(MACD-Histogram < previous period's MACD-Histogram)

Price bars are colored blue when conditions for a Red Price Bar or
Green Price Bar are not met. The MACD-Histogram is based on MACD(12,26,9).

I only mention this because I have seen youtube videos that also describe the indicator incorrectly.

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  #14 (permalink)
Hershey PA
Trading Experience: Intermediate
Platform: E signal
Broker/Data: AMP CQG
Favorite Futures: YM
CRM5096's Avatar
Posts: 116 since Jun 2011
Thanks: 55 given, 36 received

Thank you for coding this indicator

would it be possible to code it to paint the candles on chart rather that another lower study or the option to do so ?

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D.G. Watts
Visit my futures io Trade Journal Reply With Quote


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