Screeners: Elder Impulse System

Elder Impulse System Screener

Find trends !

Alexander Elder's Impulse System is a system for spotting trends in a stock by combining two criteria: inertia and power.

• Inertia is measured using a short moving average.
• Power is measured using the MACD

When the 2 indicators are ascending, the impulse is green, whereas when both are descending, the impulse is red. When the indicators are in opposition, the impulse is blue.

The colour of the Elder Impulse System can therefore be used to identify a trend, the start of a trend or the reversal of a trend.

Find detailed explanations from the autor of the Impulse System in his book "The NEw Trading for a Living" by Alexander Elder, published by Wiley Trading.

Description

The Elder Impulse System screener scans the market for stocks with a first green candle and / or first red candle using Alexander Elder's impulse system.

It is possible to filter/validate the results to obtain blue or green candles on higher Time Units, thus validating a bullish or neutral trend (from Months to 5 minutes). And vice versa for searches for the first red candle.

The Alexander Elder Impulse System indicator, which displays the colours (green, blue, red) on or below the chart, is supplied with the screener. A barchart version of the indicator is also included.

A general filtering on the daily timeframe is done on the stock price, as well as the exchange's volume. This filtering guarantees the stocks appearing in results are in your liquidity criteria.

Parameters can be adjusted to adjust the screener according to your criteria. All settings are available without modifying the code, in the "variable" menu.

Adjustable validation criteria :

• Moving Average period,
• Moving Average type (sma, ema, wma, ...).

Available filters :

• First green candle,
• First red candle,
• Validation with blue or green candle on upper timeframes,
• Validation with timeframes from Monthly to 5 minutes.

General filter :

• Minimum stock price,
• Minimum average volume,
• Average volume expressed in transaction number or in capital exchange.

Video user guide (english subtitles available) :

Details of available settings :

Download guide

Characteristics

• Works on all TimeFrames,
• ProRealTime V11 and later versions compatible,
• Free ProRealTime (daily closings) compatible,
• Candles and Barchart Indicator included,
• Automatic and free updates for life.

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Disclaimer

Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations.
Investing in the financial markets involves risks up to and including the total loss of capital.
The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.