I've always been intrigued by the Elder Impulse System but found it labour intensive with its flipping back and forth between daily and weekly charts. I also wasn't fond of the way it repainted the candlesticks. So I set out to build a version where you could get every trade signal filtered down in one chart and still see the real price action.
The idea is to combine Elder Impulse System with AutoEnvelope. It's usefull for free accounts to have more indicators on chart.
So what would on chart:
- fast ema
- slow ema
- Bar colour changed after signals of upcending/discending fast ema + upcending/discending macd
I've used Elder Impulse System by samuel16 and Elder's AutoEnvelope indicator...
The impulse system :
The Impulse System combines two simple but powerful indicators.
One measures market inertia, the other its momentum. When both
point in the same direction, they identify an impulse worth following.
We get an entry signal when both indicators get in gear.
The Impulse System uses an exponential moving average to find
uptrends and downtrends....
This is an updated version of my previous Triple Moving average script.
This one plots 3 moving averages + Elder impulse system.
The user has an option to choose from EMA or SMA.
User can also choose the length and source for moving averages.
The user also has an option to turn ON/OFF the use of the Elder impulse system.
All this utilizing the space for a...
The purpose of Impulse Release is to prevent trading in the wrong direction. While the Impulse System operates in a single timeframe, Impulse Release is based on two timeframes. It tracks both the longer and the shorter timeframes to find when the Impulse points in the same direction on both.
Its color bar flashes several signals:
If one timeframe is in a buy...
Study Name: Elder-Keltner-Impulse-MA Study by STTA
This indicator shows in a combined way three Keltner Channels with EMA21 and multiplier 1,3,5, the Elder Impulse System and a short EMA 11 to recognize the valuation zone, according to various strategies of Dr. Alexander Elder.
This indicator can be applied on all symbols.
This is an adaptation of Elder's Impulse System.
In Elder's Impulse System, he makes use of a MACD and an Exponential Moving Average (EMA) as censors in his buy or sell decisions. If both the direction of the MACD-Histogram and the EMA's slopes are upward, the censor gives him the permission to buy. If both of their...
What is the impulse system ?
The impulse system is a censorship trading system developed by Alexander Elder, and explained in his book New trading for a living . Its meant is to allow or to prohibit a trade. Also, it can be used to find when a trend start to weaken.
This script is an implementation of this system using a TradingView indicator.
How does it...