mo1355 wrote: Fri Aug 09, 2024 10:20 pm Force index with ATR bands-
I'm hoping mrtools or another briliant coder here can possibly put a set of ATR bands around force index for me.
I've attached a version that uses Bollinger bands. hope it helps.
Many thanks!

Force Index with ATR Bands

To recap, the Force Index is a tool used in trading that shows how much strength is behind the movement of a price and was originally developed by Dr. Alexander Elder. Sometimes referred to as the EFI (Elders Force Index), the way it calculates is:

• It measures the power behind a price movement using price and volume (tick volume in MT4)
• Is not bound by levels
• Is based off price's Close, unlike the MFI (Money Flow Index) which is based off Typical price (high + low + close / 3)

Try.

PS: If you prefer a version with Floating Levels, please see here.