A momentum style indicator showing the potential direction of the market.
The Force Index is one of the studies that comes with the
In the example below we see the Force Index being used on the daily IBM chart. In the bottom panel we have the Force Index set to display as a histogram with a smoothing length of 2 bars (days). In the upper panel the Force Index is set to display as a line with a smoothing length of 5 bars (days). The smoothing here is done using a simple moving average (SMA) and not an exponential moving average (EMA). The trader has the option to select an EMA (the default), an SMA or a Weighted Moving Average (WMA). See below the chart for more options.
To configure the study please right click on an advanced chart that has the study loaded and from the menu select Edit Studies... and in the subsequent dialog box select the appropriate study from the drop down list in the top left hand corner next to the label Study:
|Smoothing Length||Number of bars to include in the smoothing of this indicator. Default is 2.|
EMA = Exponential Moving Average
SMA = Simple Moving Average
WMA = Weighted Moving Average
|Line Color||Color of line/bar. Default is blue.|
|Line Thickness||Thickness of line/bar. Default is 1.|
|Plot Type||Select a LINE (default) or HISTOGRAM|
Support is always available for the indicators. We suggest that you post your support question in the MyPivots Support Forum for quickest response.
Other indicators in this Pack/Series: