Force Index

Overview

Force Index is an indicator designed to measure price change in relation to volume.

Calculation

The formula to calculate the index:

Force Index = Volume (today) x [Close(today) minus Close(yesterday)]

A five-period Force Index calculates the 5-period exponential average of the Force Index.

To add the tool to your chart, select the tool from the Volume tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.

Scripting functionFI()

Actions & Properties

Actions

Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Force Index tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Force Index tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Force Index to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.

Properties

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Bars: Allows you to increase or decrease the number of bars that are used in the calculation.

Plot Style: Allows you to change how the tool is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.

Line Style: The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.

Line Width: Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.

Line Colour: Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.

Fill Up / Down Barrier: When the Plot Style is set to Shaded you are able to adjust the barrier value, the default value is 0.00.

Fill Up Colour: When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.

Fill Down Colour: When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.

Transparency: Use this slider bar to adjust the transparency of the shading. Moving the slider to the left will increase the transparency.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.
Show In Price Scale: When selected the current Force Index value will be displayed in the Price Scale.