Force index
Multiplies the change in price by volume for a period, combining how much price moved with how much volume backed the move into one reading of buying/selling force.
What the numbers mean
The setting is the smoothing period applied to the raw calculation of price change times volume. At 1 the index is unsmoothed and shows each bar's force individually; at 13 it becomes a trend reading of roughly one month.
- 1 — raw, unsmoothed; each bar's force shown individually
- 2 — Elder's short-term setting for timing entries
- 13 — about one trading month; the trend of participation
- Value = price change × volume, so it scales with both
How it is used
The short version is used to time entries within a trend — a negative spike during an uptrend marks a pullback that has been sold into. The longer version is used for the trend of participation itself.
- Short setting → a negative spike during an uptrend marks a pullback being sold into
- Long setting → the trend of money flow itself
- New extremes with a breakout → weight of money confirming the move
How it relates to everything else
Force Index multiplies the two things most other indicators keep separate — how far price moved and how much traded. Elder designed it to be used at two settings at once: a 2-period for entries and a 13-period for the background trend.
- 2-period for timing + 13-period for trend → Elder's intended pairing
- Elder force index is the smoothed form
- Scale is security-specific; never compare across names
What to watch for
The raw version is extremely spiky and close to unreadable on its own, which is why most platforms default to the smoothed form.