SC MTF Elders Force Index MT4

What is EFI?

Elder's Force Index (EFI) is a technical indicator developed by Dr. Alexander Elder that measures the power behind price movements by combining price change, direction, and volume. The indicator is calculated as (Close - Previous Close) x Volume, then smoothed with an Exponential Moving Average (EMA).

EFI oscillates around zero line. Positive values indicate bullish force (rising prices with volume support), negative values indicate bearish force (falling prices with volume support). The magnitude of the value reflects the strength of the force. High positive peaks suggest strong buying pressure, while low negative troughs indicate strong selling pressure. Crossovers of the zero line can signal potential trend changes.

Features:

• Visual signal markers with arrows and vertical lines
• Three independent signal buffers with configurable triggers
• Signal detection options: direction change, level cross, peak/valley
• Configurable alert functions for each signal (email, push, sound, popup)
• Multi-timeframe (MTF) capability with interpolation methods
• Histogram or line drawing mode
• Multiple color modes (simple, direction-based, level-based)
• Custom indicator call (iCustom) buffer access for Expert Advisor (EA) integration

Input Parameters:

• Basic Settings:
  • EFI period: Period for Exponential Moving Average (EMA) smoothing calculation.
  • EFI bar shift: Offset the line drawing by specified number of bars.
  • EFI timeframe: Choose timeframe for MTF display.
  • MTF Interpolation mode: Select smoothing method (Off, Linear, Smooth, Weighted, Simple Moving Average).
• Levels Settings:
  • Show level: Toggle level line visibility.
  • Adjust level value: Set custom level position.
  • Level appearance: Customize color, style, and width.
• Signal Settings:
  • Signal 1/2/3 trigger: Configure detection type (direction change, level cross, peak/valley).
  • Visual markers: Enable arrows and vertical lines with customizable size, style, and position.
  • Arrow customization: Set Wingdings codes and colors for up/down signals.
• Alert Settings:
  • Alert timing: Choose when alerts trigger (Off, After close, Before close, Both).
  • Alert interval limit: Set minimum minutes between repeated alerts.
  • Time range filter: Restrict alerts to specific hours.
  • Delivery methods: Enable email, push, popup, and sound notifications.
• Color and Style Settings:
  • Color mode: Select from multiple modes (simple, direction-based, level-based).
  • Histogram mode: Switch between line and histogram display.
  • Line appearance: Customize colors (4 per line), style, and width.