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Force Index (FI)
Force Index (FI) is oscillator developed by Alexander Elder which purpose is to show how strong buying or selling pressure is. High (positive) values indicate strong upward trend and low (negative) values indicate strong downward trend.
Force index is calculated by formula:
Force Index (FI)
Interpretation
When force index is setting new highs, current uptrend will probably continue. If FI is setting new lows, downward trend will probably continue. If FI is moving sideways, trend reversal is about to appear soon.
Example
Open chart for google with force index indicator.