Inspired by the new version of the "Force Index" announced by Dr. Alexander Elder a few years ago - "Elder Force Index With ATR Channels". Unfortunately original version of script only works on MetaTrader platforms, so this is an attempt to implement this great idea on TradingView...
Same as Elders Force Index, but with an Additional EMA for buy and sell signal
This script uses a combination of modified TSI and RSI conditions produce Buy/Sell/Hold signals. Similar to Elder's Impulse, when a buy signal is met, bars turn blue. When a sell signal is met, bars turn Pink. When signals are mixed, bars turn grey. Depending on direction of trend, gray bars can be considered "Hold" or take profit signals. You can change the...