BullScript: Force Index

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Force Index

Printed From: BullCharts Forum
Category: BullCharts
Forum Name: BullScript
Forum Discription: Technical discussion related specifically to the BullScript programming language.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=799
Printed Date: 20 May 2024 at 9:09am
Software Version: Web Wiz Forums 9.69 - http://www.webwizforums.com

Topic: Force Index

Posted By: Bana
Subject: Force Index
Date Posted: 21 Jan 2012 at 2:50pm

Hi Max

How are you? Could you please help with an indicator I am trying to build but failing. In Bullcharts volume indicators, there is 'Force Index'. Is it possible to create a MACDH for it using a 7 and 12 days moving average of FI and 3 days as the signal period?

Cheers

Pankaj

Replies:

Posted By: maximo
Date Posted: 26 Jan 2012 at 4:14am

Hey Bana,

Going well here and happy Australia day!

I'll muster up something shortly.

Posted By: maximo
Date Posted: 30 Jan 2012 at 7:48pm

Here we go, MACD Force Index.

[Description="MACD Force Index"]

Fastperiod:=Input("Enter the Fast EMA period: ",12);

Slowperiod:=Input("Enter the longer EMA period: ",26);

signal:=Input("Enter the number of signal line period: ",9);

FI:=V*(C - hist(C,1)); { Elder's Force Index }

[Name=MACD; color=dodger blue]

ma(FI,Fastperiod,E)-ma(FI,Slowperiod,E);

[name=Signal; linestyle=solid; color=red]

ma(ma(FI,Fastperiod,E) - ma(FI,Slowperiod,E),signal,S);

[color=black] 0;

[linestyle=histogram]

((ma(FI,Fastperiod,E) - ma(FI,Slowperiod,E)) - ma((ma(FI,Fastperiod,E) - ma(FI,Slowperiod,E)),signal,E));

Posted By: Bana
Date Posted: 03 Feb 2012 at 9:59am

Thanks Maximo. I will play around with it and post here if its useful.

cheers

Posted By: bluey
Date Posted: 11 Jun 2012 at 2:18pm

I have inserted it into my Indicators & will check against Watchlist trades. Thanks,

Bluey