Force Index
Combines price direction, magnitude of move, and volume into a single oscillator; crosses above zero signal buying force, below signal selling force.
Formula
Force Index (raw) = (Close_t − Close_{t-1}) × Volume_tThe Force Index, also by Dr. Elder, multiplies the price change (Close − Prior Close) by volume to express the "force" behind each move. A large positive number means a big up bar on heavy volume; a large negative number, a big down bar on heavy volume.
The raw Force Index is extremely noisy; a 2-period EMA smooths it for short-term signals while a 13-period EMA reveals the dominant force. When the 2-period Force Index drops negative during an uptrend, it identifies pullback entry points. Combined with Elder Ray, it forms the core of Elder's "Triple Screen" system.
Related Terms
Accumulation/Distribution Line
Running total of volume adjusted for where the close falls within each bar's range; divergence with price highlights accumulation or distribution.
IntermediateElder Ray Index
Measures the power of bulls (high minus EMA) and bears (low minus EMA) relative to an exponential moving average to gauge trend and momentum together.
AdvancedMoney Flow Index (MFI)
Volume-weighted RSI that measures buying and selling pressure; above 80 is overbought, below 20 oversold, over a 14-period default.
IntermediateOn-Balance Volume (OBV)
Cumulative volume indicator that adds volume on up days and subtracts it on down days to reveal whether volume is confirming a price trend.
Beginner