Range Force Impulse

The "Range Force Impulse" indicator combines 4 useful indicators into one, freeing up chart real-estate and giving the trader insight into trend health, bull/bear commitment, range and volatility all at a glance.

The indicator consists of the following:

• Direction - True Range and Average True Range columns shown above and below 0 depending on direction of the period's price
  -- TR (gray) shows the current period's trading volatility
  -- ATR (Impulse colors, see below) shows an EMA of TR over a specified length
  -- Can be used to determine stops and targets (Example: Stop loss at prev close - ATR, Target at 2x ATR)
  
• Index - Alexander Elder's EMA of (change(close) * volume), shows crosses above 0 (green) and below 0 (red), and intermediate signals
  -- Shows bull vs. bear interest/commitment/dominance
  -- Elder recommends EMA length of 2 for daily chart buy/sell signals, and 13 for weekly chart bull/bear dominance & trend direction signals
  -- Intermediate signals are shown above 0 when falling (salmon), or below 0 when rising (pale yellow)
  
• System - Range columns are colored using Alexander Elder's censorship system (green: do not short, red: do not long, blue: is up to you)
  -- Shows overall trend health (Macd histogram and EMA up/down changes)
  

Release Notes:

Bullets in description should have been:

* Range Direction
* Force Index
* Impulse System

Release Notes:

.