The strategy is based on LazyBear's Elder Impulse System
Strategy(in layman terms):
Long: When the green bar in the Elder Impulse System's indicator shows up
Short: When the red bar in the Elder Impulse System's indicator shows up
Close trade/Profit booking: When the blue...
The idea is to see Elder's force index smoothed EMA in different time frame simultaneously.
Default intervals are (2) and (13)
Base on samuel16 script.
Market temperature, introduced by Dr.Alexander Elder, helps differentiate between sleepy, quiet and hot market periods.
Following is Mr.Elder's explanation on how to use this indicator (from his book "Come in to my Trading Room"):
"When markets are quiet, the adjacent bars tend to overlap. The consensus of value is well established, and the crowd does little...
Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bear Power measures the ability of sellers to...
Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bull Power measures the ability of buyers to...
Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bear Power measures the...
Developed by Dr Alexander Elder, the Elder-ray indicator measures buying
and selling pressure in the market. The Elder-ray is often used as part
of the Triple Screen trading system but may also be used on its own.
Dr Elder uses a 13-day exponential moving average (EMA) to indicate the
market consensus of value. Bull Power measures the...
According to Elder, "The Impulse System encourages you to enter a trade cautiously but exit fast, by identifying inflection points where a trend speeds up or slows down. This is the professional approach to trading, the total opposite of the amateur's style. Beginners jump into trades without thinking too much and take forever to get out, hoping and waiting for...
![BTCUSD: Elder's Market Thermometer [LazyBear]](https://s3.tradingview.com/h/HqvTuEMW_mid.png "Elder's Market Thermometer [LazyBear]")
