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Author: Admin | 2025-04-28
Elder-Impulse System: The Elder Impulse System was designed by Alexander Elder and featured in his book, Come Into My Trading Room. According to Elder, “the system identifies inflection points where a trend speeds up or slows down.” The Impulse System is based on two indicators, a 13-day exponential moving average and the MACD-Histogram. The moving average identifies the trend, while the MACD-Histogram measures momentum. As a result, the Impulse System combines trend following and momentum to identify trading impulses. This unique indicator combination is color coded into the price bars for easy reference. Green price bars show that the bulls are in control of both trend and momentum as both the 13-day EMA and MACD-Histogram are rising. A red price bar indicates that the bears have taken control because the 13-day EMA and MACD-Histogram are falling. A blue price bar indicates mixed technical signals, with neither buying nor selling pressure predominating. Read more here. Area charts plot only the close for a given bar. Renko charts are built using price movement vs. traditional price movement, where one bar is plotted for a specific time period. The chart resembles a series of "bricks", where a new brick is generated when the price moves a specific price amount. By default, Barchart calculates the brick size based on a 14 period Average True Range (ATR), using the Close for brick construction. Renko charts have additional parameters you can set by opening the Settings menu and going to the SYMBOL tab. Besides setting color options for the up/down bricks, you may also set Method (ATR) - Choose from Traditional or ATR. Traditional uses the constant Brick Size, where ATR values result in fluctuating brick sizes. Period (14) - the period used to calculate the ATR. Source (Close) - Valid options are Close and High/Low.
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