Compact mode

Elder Force Index

Known for Combining Price And Volume

Table of content

General Information
Characteristics
Facts

Application
Technical Details
Usage
Evaluation
Performance Metrics
Alternatives
FAQ

General Information

Indicator Type 📊

The category or classification of the trading indicator based on its primary function and analysis method.

Volume

Elder Force Index is a Volume type indicator. Indicators that analyze trading volume to confirm price movements
Asset Class 💰

Specifies the financial instruments for which the indicator is most commonly used

Stocks

The asset classes Elder Force Index is typically used for are Stocks. Indicators optimized for analyzing and predicting stock price movements in equity markets. Click to see all.

Forex

The asset classes Elder Force Index is typically used for are Forex. Indicators optimized for currency pair trading in the foreign exchange market. Click to see all.
Made In 🌍

The country or origin of the trading indicator

United States

Elder Force Index was developed in United States. Indicators developed in the USA, reflecting American trading principles

Characteristics

Lagging or Leading 🏁

Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.

Leading

Elder Force Index is a Leading indicator. Indicators that predict future price movements Click to see all.
Complexity Level 🧑

Indicates the level of expertise required to effectively use the indicator

Advanced

The complexity level of Elder Force Index is Advanced. Sophisticated indicators designed for traders with extensive market knowledge and experience. Click to see all.
Popularity 🏆

Indicates how widely used and recognized the indicator is in the trading community

Low

The popularity of Elder Force Index among traders is considered Low. Indicators with lower adoption but potential unique insights

Facts

Interesting Fact 💡

An intriguing or lesser-known fact about the trading indicator

Created by Dr. Alexander Elder in 1989
Sarcastic Fact 😉

A humorous or ironic observation about the trading indicator

It's like a lie detector for market trends

Application

Timeframe 🕑

The time intervals or periods for which the trading indicator is most effective or commonly used.

Daily

Elder Force Index is most effective for Daily timeframes. Indicators optimized for daily chart analysis, suitable for swing and position traders.

Technical Details

Calculation Method 🧮

The mathematical or analytical approach used to compute the trading indicator's values.

Volume-Based

Elder Force Index uses the Volume-Based calculation method. Indicators that analyze trading volume patterns for market insight. Click to see all.
Signal Generation 📊

Describes the methods by which the indicator produces trading signals

Crossovers

Elder Force Index generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes

Thresholds

Elder Force Index generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
Customization Options 🔧

Lists the parameters that can be adjusted to fine-tune the indicator

Period

Elder Force Index offers customization options for Period. Enables customization of analysis timeframe Click to see all.

Smoothing

Elder Force Index offers customization options for Smoothing. Adjustable smoothing for noise reduction Click to see all.

Usage

For whom 👥

The target audience or user group for the trading indicator

Day Traders

Elder Force Index is designed for Day Traders. Tools optimized for short-term intraday trading decisions Click to see all.

Swing Traders

Elder Force Index is designed for Swing Traders. Identifies medium-term trends and potential reversal points, ideal for multi-day positions Click to see all.
Purpose 📈

The primary purpose or application of the trading indicator

Confirming Trends

Elder Force Index is primarily used for Confirming Trends. Indicators for validating trend direction Click to see all.

Identifying Reversals

Elder Force Index is primarily used for Identifying Reversals. Indicators for potential trend changes Click to see all.

Evaluation

Pros 👍

Advantages of using the trading indicator

Incorporates Both Price And Volume

Combines price and volume analysis for more comprehensive market insights

Good For Spotting Reversals
Cons 👎

Disadvantages or limitations of the trading indicator

Less Popular

Requires Additional Confirmation

Performance Metrics

Reliability Score 💯

A score indicating the overall reliability of the trading indicator

6.5

The reliability score of Elder Force Index is 6.5 out of 10. Click to see all.
Ease of Use Score 💻

A score representing how user-friendly and intuitive the trading indicator is

6

The ease of use score for Elder Force Index is 6 out of 10. Click to see all.
Versatility Score 🔀

A score indicating the adaptability of the trading indicator across different markets and timeframes

7.5

The versatility score of Elder Force Index is 7.5 out of 10. Click to see all.
Customization Score 🔧

A score representing the degree of customization available for the trading indicator

7

The customization score for Elder Force Index is 7 out of 10.
Score ⭐

The overall score of the trading indicator based on various performance metrics

6.75

The overall score of Elder Force Index is 6.75 out of 10. Click to see all.

Alternatives to Elder Force Index

Elder-Ray Index

Known for Combining Trend And Momentum

💯 is more reliable than Elder Force Index

🔀 is more versatile than Elder Force Index

🔧 is more customizable than Elder Force Index

⭐ is rated higher overall than Elder Force Index

Dynamic Momentum Index

Known for Adapting To Market Volatility

💯 is more reliable than Elder Force Index

⭐ is rated higher overall than Elder Force Index

Market Facilitation Index (MFI)

Known for Relationship Between Price Movement And Volume

💯 is more reliable than Elder Force Index

🔀 is more versatile than Elder Force Index

⭐ is rated higher overall than Elder Force Index

Schaff Trend Cycle

Known for Combining Trend And Cycle Analysis

💯 is more reliable than Elder Force Index

Detrended Price Oscillator (DPO)

Known for Eliminating Long-Term Trends

🔧 is more customizable than Elder Force Index

Choppiness Index

Known for Identifying Trending Vs Choppy Markets

💯 is more reliable than Elder Force Index

💻 is easier to use than Elder Force Index

🔀 is more versatile than Elder Force Index

⭐ is rated higher overall than Elder Force Index

Relative Vigor Index (RVI)

Known for Trend Confirmation

💻 is easier to use than Elder Force Index

Klinger Oscillator

Known for Trend Reversals And Continuations

💯 is more reliable than Elder Force Index

🔧 is more customizable than Elder Force Index

⭐ is rated higher overall than Elder Force Index

Known for Volatility-Based Reversal Prediction

Ease Of Movement

Known for Relating Volume To Price Change

FAQ about Elder Force Index