Alexander Elder’s Impulse System is a system for spotting trends in stock market 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 help to identify a trend, the beginning of a trend or the trend reversal.

Find details from the autor of the Impulse System in his book “The New Trading for a Living” by Alexander Elder, published by Wiley Trading.

The Impulse System Indicator displays on or below your charts the Impulse color : green, red, blue.

The indicator can be installed below the chart or on the chart, according to your own preferences.

Many parameters can be adjusted so the display will be as per your own criterias. All settings can be done without modifying the code, in the configuration menu :

The indicator can display the Impulse color of the chart timeframe and the Impulse color of the upper timeframe.

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

Availables criteria :

• Moving average period,
• Moving average type (sma, ema, wma, …).

Display options :

• Candles of the Impulse color,
• Coloured dots size,
• Spacing between dots,
• Display upper timeframe,
• Display on chart,
• Display below chart.

Characteristics :

• Works on all pair of TimeFrames
• ProRealTime V11 and later versions compatible
• Free ProRealTime (daily closings) compatible
• Automatic and free updates

Watch the video user’s guide on our Youtube channel, subtitles available in English :