Force Index

Overview

The Force Index combines price change and volume into a single oscillator that measures the power behind each market move — positive force indicates buying pressure and negative force indicates selling pressure. Developed by Alexander Elder, it is a core component of the Elder trading system used across stocks and forex. Pair it with the EMA for trend context and browse our indicator guide library for more volume-momentum hybrids.

How It Works

Force Index = (Close today − Close yesterday) × Volume today. A 2-period EMA of Force Index is used for short-term signals; a 13-period EMA is used for intermediate-term signals. The indicator oscillates around zero, with magnitude reflecting the strength of each move.

Key Signals

• 13-period Force Index above zero = bulls in control.
• 13-period Force Index below zero = bears in control.
• 2-period Force Index dipping below zero in an uptrend = pullback buying opportunity.
• Spikes in Force Index indicate climactic buying or selling.

Common Mistakes

• Using raw (unsmoothed) Force Index — it's too volatile for practical trading.
• Not differentiating between the 2-period and 13-period interpretations.
• Ignoring the volume component — Force Index signals carry more weight during high-volume moves.