Elder Force Index With ATR Channels, adaptive from original script by Dr. Alexander Elder
What it does -EFI is used to sport reversals mainly on the weekly time frame -When EFI spikes over 3 x ATR calculated on the signal line, price is said to have exhausted and you can start looking for reversals
Features -Change all inputs -Truncate EFI at 4 x ATR so as to not squish the indicator -Open source, use code as you wish. If you use this code, shoot me a line and tell me how you're using it
Notes de version
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Added Band-pass zero crossover cycle dominance options. -Allows the user to dynamically recalculate length inputs with each candle determined by dominant cycle measures -Cycle length % should match the same ratio as 13 to 21, with the Signal and ATR Percent higher than the EFI Percent
I just noticed … changing the 'Fixed Signal Period' and the "Fixed ATR Smoothing Length" as absolutely no effect. The 2 inputs (slen & atr_sm) are nowhere used inside the code. Do you think you could fix this? Thank you 🙏
Thank you 🙏 for this very cool indicator, it! It is simple, but very effective 😎👍 And THANK YOU for making it open-source, enabling us to make a few cosmetic changes 🙌
PS: I believe I found a little typo… it says ""Over ATR4 Low"" instead of ""Under ATR4 Low" no biggy ^^
DirtyCache00
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Thank you Sir loxx of Tradingview
ObamaBinLyin
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Pretty cool indicator, thanks for the post! good work.