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Patrick  
#1 Posted : Friday, August 19, 2005 4:10:06 PM(UTC)
Patrick

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Joined: 9/8/2004(UTC)
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Please refer to Dr. Elder for interpretation. Here are the formulas for calculating the Elder Ray, and the Force Index. Bull Power: H - Mov(C,13,E) (High minus the moving average) Bear Power: L - Mov(C,13,E) (Low minus the moving average) To plot the Elder Ray: * Create the two custom formulas from above. * Open the base security. * Plot a 13-Period Exponential Moving Average of the closing price in a new inner window. * Drag the Bear Power formula and drop it in a new inner window. * Drag the Bull Power formula and drop it in a new inner window. * Or, you may drop all three indicators in the same inner window if you wish. The formula for the force index is: V*(C-ref(C,-1)) NOTE: This formula requires the presence of volume data to work To plot this formula as a histogram, after dropping the formula in an inner window, right click on the indicator and select properties. Select styles and choose the histogram.
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