Elder Force Zones
Authentic Elder Force Index for MT5. Features Triple Screen pullback zones, non-repainting divergence markers, and volume force spike alerts.
System Overview
Elder Force Zones implements the authentic, mathematically correct formulation of Dr. Alexander Elder's Force Index for MetaTrader 5. MetaTrader's built-in Force Index incorrectly multiplies volume by the change in a moving average of price; this implementation restores Elder's original definition: bar volume multiplied by the net close-to-close change, exponentially smoothed.
Empirical testing demonstrates that MetaTrader's native calculation error causes the zero-line directional bias to disagree on roughly one out of every six bars across liquid Forex, Gold, and Index markets.
Built upon Elder's acclaimed Triple Screen methodology, the indicator automatically derives macro trend direction from a higher timeframe (e.g., H1 trend governing M15 execution) and isolates high-probability counter-trend pullbacks: blue candles mark buy pullback zones in uptrends, while orange candles identify sell rally zones in downtrends.
Features non-repainting divergence detection between price swing extremes and force index peaks, statistical 3-standard-deviation force exhaustion spike markers, and complete multi-channel alerting.
How It Works?
Authentic Force Formulation
Computes raw force as Bar Volume x (Close - Close[1]), applying exponential smoothing without moving average phase distortion to isolate true institutional commitment.
Triple Screen Higher-Timeframe Filter
Automatically queries the macro timeframe (e.g. H1 for M15, D1 for H4) via 13-period EMA slope, ensuring intraday trading strictly aligns with dominant institutional order flow.
Pullback Buy & Sell Zones
Highlights high-probability re-entry opportunities where short-term counter-trend pressure temporarily dips below zero in an uptrend (blue) or rallies above zero in a downtrend (orange).
Classic vs Dual-View Architecture
Offers instant switching between Classic 13-bar trend view and Dual view displaying 2-bar short-term trigger candles alongside the 13-bar force trendline and signal baseline.
Confirmed Peak Divergence Engine
Detects classical Class-A bullish and bearish divergences between price pivot extremes and Force Index peaks, printing non-repainting markers strictly on bar close.
Exhaustion Force Spike Telemetry
Flags statistical volume-force surges exceeding 3 standard deviations, alerting discretionary traders and automated desks to imminent climatic trend exhaustion.