Force Index (FR C)
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Force Index (FR C)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Force Index technical indicator was developed by Alexander Elder.
This index measures the Bulls Power at each increase, and the Bears Power at each decrease. It connects the basic elements of market information: price trend, its drops, and volumes of transactions. This index can be used as it is, but it is better to approximate it with Moving Average. Approximation using the short moving average (the author proposes to use 2 intervals) contributes to finding the best opportunity to open and close positions. If the approximations is made with long moving average (period 13), the index shows the trends and their changes.
It is better to buy when the forces become minus (fall below zero) in the period of indicator increasing tendency;
The force index signalizes the continuation of the increasing tendency when it increases to the new peak;
The signal to sell comes when the index becomes positive during the decreasing tendency;
The force index signalizes the Bears' Power and continuation of the decreasing tendency when the index falls to the new depth;
If price changes do not correlate to the corresponding changes in volume, the force indicator stays on one level, which tells you the trend is going to change soon.
Force Index indicator
Calculation:
The force of every market movement is characterized by its direction, scale and volume. If the closing price of the current bar is higher than the preceding bar, the force is positive. If the current closing price if lower than the preceding one, the force is negative. The greater the difference in prices is, the greater the force is. The greater the transaction volume is, the greater the force is.
FORCE INDEX (i) = VOLUME (i) * ((MA (ApPRICE, N, i) - MA (ApPRICE, N, i-1))
where:
FORCE INDEX (i) - Force Index of the current bar;
VOLUME (i) - volume of the current bar;
MA (ApPRICE, N, i) - any Moving Average of the current bar for N periods: Simple, Exponential, Weighted or Smoothed;
ApPRICE - applied price;
N - averaging period;
MA (ApPRICE, N, i-1) - any Moving Average of the previous bar.
