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FauxLife EFI

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Volume Oscillators Trend Analysis elder force index trend entry exit Stocks Forex
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volumestudies oscillator trendanalysis elder force index trend entry exit stocks forex
Modification to Elder's Force Index (EFI)

  • Ability to change calculation from standard EMA to your choice of SMA, EMA, WMA, or HMA. Very interesting results!
  • Adjust lookback from standard/suggested 13 candlesticks
  • Added a color indication to positive or negative force reading
  • Added background color tint for an easier read on dashboard setups

Suggested pair with my On Balance Volume with Cross to use as a filter & entry/exit setup. Enter or exit trades when the two indicators switch at the same time or within 1-2 candlesticks of each other.
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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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