Charts

Elder Force Index (EFI)

Description

Elder Force Index, developed by Alexander Elder, measures the power behind a price movement using price and volume.

Formula

\[EFI = (Close_{current\;period} - Close_{previous\;period})\times Volume_{current\;period} \]

\[EFI_{n-period} = Moving\;Average\;of\;n-periods\;of\;EFI\]