Elder Impulse System with AutoEnvelope combined by iduThe idea is to combine Elder Impulse System with AutoEnvelope. It's usefull for free accounts to have more indicators on chart.
So what would on chart:
- fast ema
- slow ema
- AutoEnvelope
- Bar colour changed after signals of upcending/discending fast ema + upcending/discending macd
I've used Elder Impulse System by samuel16 and Elder's AutoEnvelope indicator by jamiespips. Thanks to both of them.
Elder
ElderImpulseSystemWhat is the impulse system ?
The impulse system is a censorship trading system developed by Alexander Elder, and explained in his book New trading for a living . Its meant is to allow or to prohibit a trade. Also, it can be used to find when a trend start to weaken.
This script is an implementation of this system using a TradingView indicator.
How does it work
It's based on
The slope of a fast EMA , which is the inertia of the price.
The slope of the MACD , which is the power of the price.
If fast EMA and MACD are rising, candle is green.
If fast EMA and MACD are declining, candle is red.
Otherwise candle is gray.
How to use it
Use your own trading system to setup your trading plan, then use the impulse system to see if your trade is allowed or not.
If candle is green no short is allowed (either buy or stay aside).
If candle is red no buy is allowed (either short or stay aside).
The impulse system should be used in addition to an other system. Don't forget to check on differents times frames (see triple screen trading section of Elder's book). Don't forget that it's a censorship system, don't go against the censor.
Elder AutoEnvelopeReference: Transcription of script taken from TC2000 - forums.worden.com
Please let me know if you want me to change the script in anyway, or add new features
Shifty EFI Trend IndicatorMoved Elder's Force Index trend tracking to separate indicator and made it overlay candles. Current unfinished candle arrow is experimental.
Bull And Bear Balance Strategy Backtest This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb.
This modified strategy backtest from HPotter
Bull And Bear Balance Strategy This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb.
Elder Ray (Bull Power) Strategy Backtest Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bull Power measures the ability of buyers to
drive prices above the consensus of value. Bear Power reflects the ability
of sellers to drive prices below the average consensus of value.
Bull Power is calculated by subtracting the 13-day EMA from the day's High.
Bear power subtracts the 13-day EMA from the day's Low.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
You can change long to short in the Input Settings
Please, use it only for learning or paper trading. Do not for real trading.
Elder Ray (Bear Power) Strategy Backtest Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bear Power measures the ability of sellers to
drive prices below the consensus of value. Bear Power reflects the ability
of sellers to drive prices below the average consensus of value.
Bull Power is calculated by subtracting the 13-day EMA from the day's High.
Bear power subtracts the 13-day EMA from the day's Low.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
You can change long to short in the Input Settings
Please, use it only for learning or paper trading. Do not for real trading.
Average True Range ChannelsPlots three Average True Range channels as described in Alexander Elder's "The New Trading for a Living".
You can adjust the EMA and ATR days that are the basis of these channels.
This is my first script – happy to get any feedback on this! Thanks :)
Elder SafeZone StopsSearched the public library and didn't find an existing indicator so I'm publishing my version.
