Alexander Elder's Impulse System is a system for spotting trends in a stock by combining two criteria: inertia and power.
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.
The Elder Impulse Pack includes :
The Alexander Elder Impulse System indicator displays on or below the graph the colours (green, blue, red) defining the trend according to the Elder impulse system.
The indicator displays the colour of the Impulse of the chart timeframe, and it is possible to add the colour of the Impulse of the upper timeframe. A barchart version of the indicator is included.
The pairs of timeframes are as follows, to respect Alexander Elder's x5 as closely as possible:
Weekly - Monthly / Day - Weekly / 4 hours - 2 days / 2 hours - 1 day / 1 hour - 4 hours / 30 minutes - 2 hours / 15 min - 1 hour / 10 min - 1 hour / 5 min - 30 min / 2 min - 10 min / 1 min - 5 min
The Elder Impulse System screener scans the market for stocks with an initial green 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).
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 display the bullish support according to your criteria. All settings are available without modifying the code, in the indicator "configuration" menu, and in the "variables" screener menu.
Adjustable validation criteria:
Available filters (screener only):
General filter (screener only):
Display options (indicator only):
Video user guide (english subtitles available) :
Details of available settings :
Download Indicator guide Download Screener guide
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.
