Momentum

Elder Force Index

EFI

Multiplies the price change by volume and smooths the result with an EMA. Large positive spikes confirm bullish breakouts backed by volume; large negative spikes confirm bearish breakdowns.

Tips

A short EFI (2-period) measures intraday force; a longer EFI (13-period) identifies intermediate-term buying or selling pressure

EFI divergence from price—price makes a new high but EFI does not—warns that the rally is losing volume conviction

Parameters

Period

2 - 100