Hey Bruce,

I know Elder's Impulse indicator can be created w/ PCFs, but since TC2000 already has Elder's Force Index, Elder Ray Bull Power, and Elder Ray Bear Power, you might as well add Elder's Impulse. It's arguably his most used indicator these days. It would be nice to have an off-the-shelf version available in the library.

Thank you for your suggestion.

I have sent you a TCMail with a chart containing my interpretation of the Elder Impulse System implemented as a sort of OHLC Bar with a colored body like a candle.

Thanks Bruce, you're awesome!

I've been away for a bit. Last I heard, you couldn't paint TC2000 price bars, candles, etc. How did you get this to work? Any chance of applying this interpretation to candles instead of OHLC Bars? (Elder uses old school bars ... I'm kinda old school but I do prefer candles, if possible).

Thanks again.

The indicator is comprised of six parts, although the first part is entirely covered by other elements in my implementation.

The first part is standard OHLC bars set to plot white.

The second part is a red histogram going to the top of the body when price is above the EMA and MACD is up.

The third part is a green histogram going to the top of the body when price is below the EMA and MACD is going down.

The fourth part is a blue histogram which plots to top of the body when neither the red nor green plots.

The fifth part is a black histogram (this could be changed but should match the background color) which plots to the bottom of the body for all bars.

The sixth part is white OHLC bars re-plotted in order to replace the parts of the original price plot which got covered up.

The reason I went with the OHLC bars for both the first part and the sixth part is that it allows you to see the open and close. If you use candles instead, you would need to uncheck filled for both up bars and down bars in at least the sixth part in order for the colors to show through.

You could then use Color Based On to use the candlestick outline to color code for either a Net Change or Open vs Close.

You can experiment with the different Plot Styles for the first and sixth elements as desired. For example, if you set the first element to candlestick and the sixth element to OHLC bars with Net Change set for one and Open vs Close set for the other, you can actually get three colors for each bar (although it can be a bit subtle - I find it easist to compare the outline to the central line going up the center of the candle when doing this - also not using green and red for multiple things can help with this).

Could I trouble you for a copy?

Thanks

Bill Cochrane

Bill, I forwarded you a copy of what Bruce sent me. Enjoy!

I see I'm still a step slower than Bruce. Some things never change. ;)

Bruce, I'll stick with your version - it's awesome. These days I'm using Elder's Impulse on the 130 minute and 26 minute charts as a filter to determine my directional bias, then using something totally different on the 5 minute chart to enter & exit trades ... so I'll just keep your "sort of OHLC Bars" on my 130 and 26 minute charts, and standard candles on my 5 minute chart. It's all good. :)

Btw, this is genius:

Thanks again!

Thank you both.

Ingenious, Bruce!

Bruce,

I'd still like a column (probably 3 columns, I'm guessing) that I can sort on to gather together those charts that are currently Red, Green, or Blue.

I'm assuming you can't combine all three conditions in one column, so I'm thinking one column with a Green dot or checkmark, another column for Red, and finally a third column for Blue.

What's the best/easiest way?

If you just want three colors and you don't need it to be a dot or a checkmark, then use the following Indicator Formula as a WatchList Column.

SGN(SGN(C - XAVGC13.1) + SGN(119 * C + 765 * XAVGC12.1 - 65 * XAVGC26.1 - 819 * XAVGC9.1))

Then edit the WatchList Column and select Properties so you can set the Positive Color to green, the Zero Color to blue, and the Negative Color to red. Setting Decimal Places to 0 in the same window will minimize the space taken up by the WatchList Column.

Bruce, thanks ... that's a cool idea. 

I'm not married to the idea of a dot or checkmark ... one column of sortable values that display in three different colors actually sounds better.

Thanks again!!

Hi, Could I have a copy of Bruce's TCMail with chart?

Thanks

Hi Bruce

Can I also have a copy?

Thank you

Hi, Bruce,

Can I also get a copy?

Thanks.

Bruce,

Could you please send me a copy as well? 

Thank you

Bruce,

Could you please send me a copy of your Elder Impulse System? 

Thank you.

Hi Bruce,

Can you please send me a copy. Appreciate the forum support, its awesome/

Hello. Would it be possible to receive this in my mail, too?

Thank you, Bruce.

Hi Bruce,

Can you please send me a copy ??

Thanks.

Hi Bruce, 

Can you send me a copy please ?

Thanks,

Bruce   Could you please send me a copy of the Elder Impulse system

Bruce, I need a copy too. Appreciate it!

Amazing trick to create this chart. Thanks a lot, Bruce.

Bruce, you're a frackin' GENIUS! 

You are the one who asked the question in a such a way to give me the idea of how to do it in the first place.

I will do my best to enjoy the long Easter weekend, especially since I will be on vacation next week.

Please have a great Easter as well.

I will. Hope you get great sailing weather in the Hamptons for your yacht. ;)

Thank you. I am sure I will have the wind at my back so to speak (although tacking tight to the wind is more fun).

Hi Bruce,

Kindly forward me the TCMAIL as well.

Regards

AJ

AJ,

It's Easter weekend, and Bruce is on vacation next week, so I took the liberty of forwarding you what Bruce sent me earlier.

Enjoy!

To UnclePennybags...  I've wanted this ability to differentiate candles by color for so long, but didn't think it was possible.  So, glad you asked and pursued the question. 

I'd appreciate you forwarding me Bruce's "interpretation of the Elder Impulse System implemented as a sort of OHLC Bar with a colored body like a candle" since Bruce is on vacation in the coming week.

Thanks so much, traderlady

traderlady, happy to help :)

Yeah, you can use PCF's and colored dots to differentiate candles based on Elder's Impulse scheme, but Bruce's candles are even better.

Give me a few minutes ... I'm in the middle of MetaStocks Online Summit ... when I get to a boring presenter, I'll log on to TC2000 and send you a TCMail. 

Stay tuned...

Thanks for the help

AJ, happy to help. Enjoy. Good luck!

Could I get a copy of the email as well please?  Thanks in advance.

Hi Bruce,

Can I have a copy too. Thanks

Hi Bruce,

Can you please send me a copy too. Appreciate your help.

Regards,

MK

I have sent you a TCMail with a chart containing my interpretation of the Elder Impulse System implemented as a sort of OHLC Bar with a colored body like a candle.