Force Index (FI): Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

56 lines of Pine Script v6 from lib/oscillators/fi/fi.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.

fi.pine

// Licensed under the Apache License, Version 2.0
// © mihakralj
//@version=6
indicator("Force Index (FI)", "FI", overlay=false)

//@function Calculates Force Index — EMA-smoothed price change × volume
//@param period EMA smoothing period for the raw force
//@returns smoothed Force Index value
fi(simple int period) =>
    if period <= 0
        runtime.error("Period must be greater than 0")

    float alpha = 2.0 / (period + 1.0)
    float beta = 1.0 - alpha

    var float ema = 0.0
    var float e = 1.0
    var bool warmup = true
    var bool first = true
    var float prevClose = na

    float src = nz(close)
    float vol = nz(volume)

    float rawForce = not na(prevClose) ? (src - prevClose) * vol : 0.0
    prevClose := src

    if first
        ema := rawForce
        first := false
    else
        ema := alpha * rawForce + beta * ema

    float result = rawForce
    if warmup
        e *= beta
        float c = e > 1e-10 ? 1.0 / (1.0 - e) : 1.0
        result := ema * c
        if e <= 1e-10
            warmup := false
    else
        result := ema

    result

// ---------- Main loop ----------

// Inputs
i_period = input.int(13, "Period", minval=1, maxval=500)

// Calculation
float forceIndex = fi(i_period)

// Plot
plot(forceIndex, "Force Index", color.yellow, 2)
hline(0, "Zero", color=color.gray, linestyle=hline.style_dotted)

Overview

Force Index (FI) plots the smoothed value in a separate pane and draws a dotted zero line. The period input sets the EMA smoothing length, defaulting to 13, and rejects a period of zero or less. It does not generate buy or sell signals, entries, exits, or position sizing.

EMA-smoothed price change times volume
Adjustable smoothing period
Separate pane plot
Dotted zero line
EMA warmup bias correction

Details

Published by

mihakralj on GitHub

Type

Indicator, Pine Script v6

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

lib/oscillators/fi/fi.pine

Repository

github.com/mihakralj/QuanTAlib. See its other scripts in the library

Topics

algorithmic-tradingcsharpdotnetpinescriptpythonquantitative-financesimdta-libtechnical-analysistechnical-indicators

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Period	`int`	`13`	`i_period`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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