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The use of a constant line is a good solution, but I am not sure that the use of the ForceIndex will keep you out of Chop zones. This index is not really used for this purpose. The idea of the FI is that when it is above ZERO it is long and below it is short. You will generally need another indicator for Chop. Of course you MUST use the FI together with another indicator or MA to confirm the Long or SHort. I have found the use of the DMPlus indicator to work for Chop.
If however you do find the FI usefull for Chop, let us know. Good luck.
The black line EMA(5) has to go UP with repect to itself. The line must be going UP, and the only way to guarantee that is it going up is to see that it is going up at least 2 bars.
The crossover of the EMA5 with the EMA20. THis is not a criteria.
There is no long trade at 18.19, the reason is that the crossover of the EMA5 and EMA20 is not a criteria. At that point the EMA5 has not gone UP more than 2 bars, rules 3,4,5,6 are not confirmed. There is just no trade there.
You could very well be correct. As it stands now, the above use of the constant lines works "better" (still working on it) on the YM market than on the ES market. In fact, on the ES market I find (still working on it) that they work more of an "oversold" (watch for runner to end) indication and not an initial open trade filter.
Will keep you posted as this evolves..... the good, the bad and the indifferent.
Keep up the excellent work perryg and everyone. Thanks!
I just found this forum last week. It is fantastic!!! This setup is how I trade, I didn't know it was called Boomerang.
I use 50 period SMA to show trend, and use 4 and 8 sma to cross and only trade in direction of trend. I use range bar of 11 for anchor, and 4 range to trade off of. I like using pivots and Fibs as well.
I would like to try Force Index as I think this will complement how I trade now. I down loaded indicator, chaged settings to hash and dash 90 width. However I do not know how to get the indicator bars to be all uniform like you all show in your screen shots. My bars are not in an even row, they fluctuate up and down. What settings do I need to adjust to get the bars to be in an even row? I changed to HMAs to SMAs, fast 7 and slow 13.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Thank you Perry and Vega for your help. I had already changed the dash and plot style. I changed the width from 90 to 200 and this solution worked, the bars of the force index are all unuform now.
Thanks again,
Mike
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Please confirm my understanding on your earlier post esp your suggestion in bold and Underlined above. When should I start counting the bars? For example:
For a Long signal with FI and DMplus in Green + MA lines all align, go Long IF the black line EMA(5) has already gone up at least 2 bars. Else wait until we have at least 2 bars then go Long.
I wasn't aware of the 2 bars condition until now. Thank you.