Elder Force Index
VolumeOwn panel belowNeeds volumeThe size of the price move multiplied by the volume behind it.
What it looks like
Drawn by running the real calculation over one sample series. Open a symbol and it is recalculated on that symbol's bars.
How to read it
A big move carried by heavy volume produces a large spike. Both the zero crossings and the spikes are read together.
Where it misleads
The magnitude depends on the symbol's typical volume, so do not compare across symbols.
Default settings
You can change these on the chart. These are the values it starts with.
In SQMATE
One tap to add
Open a symbol, tap the name in the indicator list and it is drawn straight away. You can stack several copies of the same indicator with different settings.
Recalculated per timeframe
Switch between minute, hourly, daily, weekly or monthly bars and it is recalculated on that timeframe. The maths runs over every bar loaded, so zooming never moves the line.
Use it as a search condition
Some indicators can also be used as an axis when searching for symbols — for example, keeping only symbols above a given reading, scanned every night.
Related indicators
- Klinger OscillatorCompares the direction of volume through a short and a long lens.
- Price Volume TrendA running total that adds only the fraction of volume matching the day's percentage move.
- Negative Volume IndexA running total that only changes on days when volume fell.
- Positive Volume IndexA running total that only changes on days when volume rose.
- Percentage Volume OscillatorThe gap between a short and a long average of volume, as a percentage.
- Net VolumeVolume drawn as a positive bar on up bars and a negative one on down bars.
Every indicator is an observation computed from past bars. It does not tell you future prices and it is not investment advice.