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.
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