Elder Impulse System

November 17th, 2012, 07:14 AM

Rockford

Fat Tails,
I've been looking for the Elder Impulse System for v7.0... thank you very much.

Rockford

Look at Post #8.

November 17th, 2012, 05:42 PM

Hi Koepisch,

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

Rockford

November 20th, 2012, 01:03 AM

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.

February 3rd, 2014, 07:28 PM

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 ?

Elder Impulse System

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Elder Impulse System