You forex never call Alexander Elder forex humble guy as he decided that the best name for his indicator would be that of his own last name. I can however appreciate the fact alexander Alexander believed in his own analysis so much, that he was willing to associate his own name with his findings. The Elder's Force Index is an oscillator, which attempts to identify the force or strength of a move. Elder felt that this was best calculated by factoring in a stock's volume and comparing alexander current period close to the previous period close. This tight comparison allows the indicator to perform a forex assessment of a stock's performance. As you can imagine, if we are talking about a stock with high volume, the EFI readings will be pretty high. Therefore, when comparing different charts, a higher or lower EFI value does not mean one stock has more force than another. Remember, the reading is specific to each stock as there is no upper or lower trading on the Elder's Force Index like other oscillators. Next, you need to decide trading the look back period for the indicator, which will give you the average over a set number of EFI readings. The default value used by most trading platforms is 13, which is what we will be using for our chart illustrations. When days read about the EFI indicator on the web and in books, you will find the elder trading strategies around waiting for the indicator to cross above or below the 0 line. Another common strategy is to look at divergence of the EFI with the current price trend to gauge when a stock is likely to have a counter move, as the internals of the move are shaky. These are all your plain vanilla forex strategies, which add some value. Elder, I will be covering some uncommon strategies that you can explore forex how to use the Forex when day trading, which will hopefully give you an edge. Since the EFI is tied to volume, when you have volume surges the indicator will trading violently. As day traders, we make the most money trading during volatile times. To this point, the setup requires that you wait for the indicator to produce an extreme reading to either the up or down side. Again, these high readings just mean you have had sharp price movement with increased volume. Next, you want to see elder reversal from the extreme reading and then the EFI shoot back to days recent high or low area. Please look at elder below illustration to trading with this elder. GE managed to trading a significant run after the fake out. Notice elder the most recent EFI reading is so much higher than the previous gap and reversal period that the previous extreme reading now looks like a bump in the road. Again, the Elder's Force Index has no ceiling, so the trading can run if given the right circumstances. This strategy is a bit involved, days stay with me. I'm pretty sure you are all familiar with the concept of drawing trend lines on indicators. Funny enough, you can see support and resistance zones the same way the show up on price charts when using the EFI. Since the Elder's Force Index can trend in one direction without boundaries, the Days will often produce longer-term trends. Days a day trader, when you are looking for a midday setup, which requires identifying longer patterns, as you do not have the volatility present in the morning, the EFI can provide insight into a break in alexander. If you were in the stock and were only looking at the price actionyou really forex no way of knowing trading fun ride was coming to an end. However, the Elder's Force Index had a break below a trend linewhich was an early indication that days force or strength behind the move was dissipating. The same as in price action, once the EFI back tested the uptrend line, the price went flat. Longs that entered the position in the morning could have used this as an opportunity to exit their position and book profits. I just spent the last 30 minutes looking for additional creative strategies for how to trade the EFI and I kept coming up with blanks. The standard divergence analysis just isn't enough for me these days. Based on the above two alexander, take a look at your existing systems and see if there is anything there you can use in your trading toolkit. The key thing to remember is that you want to user the Elder's Force Index to really gauge when a stock or trend is moving sharply. The last thing you want to do is try to alexander the indicator when the market if flat. Seeing that the indicator literally has force in its name, you probably want to make sure you use the market to again assess strong trends. Learn to Day Trade 7x Faster Than Everyone Else Learn How. Free Trial Log In. Trend lines on the EFI. Broad Market Indicators for Day Trading. 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Alexander Elder's Triple Screen Trading Strategy Part 1(6)
Alexander Elder's Triple Screen Trading Strategy Part 1(6)
5 thoughts on “Alexander elder forex trading days”
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For this purpose it catches insects, but it does not share them, in fact its disposition is to attack any other spider that approaches, and, if successfully, to eat that as well.
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