Force Index MTF
- Indicateurs
- Zhen Yu Zheng
- Version: 1.1
- Activations: 20
Force Index MTF – Power of Volume and Price (Inspired by Elder Concepts)
Multi-Timeframe (MTF) Force Index indicator independently developed by the author.Inspired by the concepts in The New Trading for a Living by Dr. Alexander Elder, this indicator measures the power of volume and price across multiple timeframes, providing traders with a tool to analyze market trends.
This is an original implementation with MTF functionality and is not an official product of Dr. Elder.
The Triple Screen System, developed by Dr. Alexander Elder, uses three levels of filtering to improve trading accuracy:
-
First screen (long-term timeframe): Detect the dominant trend using tools like the Elder Impulse System MTF.
-
Second screen (medium-term timeframe): Identify pullbacks and measure the real strength of buyers and sellers. This is where the Elder Force Index MTF becomes invaluable.
-
Third screen (short-term timeframe): Time precise entries with minimal risk.
What is the Force Index?
The Force Index is a unique indicator created by Dr. Elder. It multiplies price change × volume to measure the true power behind market moves.
-
Above 0 (green): Buying pressure dominates.
-
Below 0 (red): Selling pressure dominates.
-
Crossing the zero line: A potential shift in control between bulls and bears.
With Force Index MTF, you can view these signals across multiple timeframes directly in one chart.
Key Features of Force Index MTF
✅ Multi-Timeframe Power – Monitor Force Index from higher timeframes without switching charts.
✅ Detect Hidden Pullbacks – Spot when short-term selling is just a pullback in an uptrend, or when buying is just a rebound in a downtrend.
✅ Filter False Signals – By combining with Impulse System MTF, you can filter out counter-trend traps and trade only the strongest opportunities.
✅ Flexible Parameters –
-
Period 2: Fast and sensitive, perfect for intraday pullback detection.
-
Period 13: Smoother and more reliable for swing or position trading.
Application Examples
-
Intraday Trading (D1 → H4 → H1):
-
Trend detected by Impulse System (D1).
-
Pullback confirmed by Force Index (H4) crossing below zero.
-
Entry timed by Impulse (H1) turning green again.
-
-
Scalping (H1 → M15 → M3):
In Summary
👉 Force Index MTF = giving you the “second screen” of Dr. Elder’s Triple Screen System in a smarter way.
It measures the real force behind price moves by combining price and volume, and when paired with Impulse System MTF, it forms a powerful trading framework:
-
Long-term trend → confirmed by Impulse.
-
Medium-term pullback → detected by Force Index.
-
Short-term entry → guided by Impulse again.
This synergy helps you trade with the trend, enter on pullbacks, and avoid false signals.