The Force Index (FRC) Metatrader 5 forex indicator is a technical indicator that was developed by Alexander Elder.
The indicator gauges the Bulls Power at every increase, and the Bears Power at each decline.
One huge advantage that the indicator possess is that it connects the primary elements of market information i.e. price trend and volumes of transactions.
The Force Index (FRC) indicator will stay on one level if changes in price does not correlate to the corresponding volume change, a signal that a trend reversal is about to happen.
Free Download
Download the “force_index.ex5” MT5 indicator
Example Chart
The GBP/USD H1 chart below displays the Force Index (FRC) Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the dodger blue line of the Force Index (FRC) Metatrader 5 forex indicator breaks and stays above the zero signal level.
Sell Signal: Go short when the dodger blue line of the Force Index (FRC) Metatrader 5 forex indicator dips and hovers below the zero signal level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the dodger blue line of the Force Index (FRC) indicator falls below the zero center line.
Exit sell trade: Close all sell orders if while a bearish trend is running, the dodger blue line of the Force Index (FRC) indicator rises above the zero signal level.
Tips: The Force Index (FRC) indicator finds some of the most suitable opportunity to open and close positions.
The index is able to display trends and their changes even better when used in conjunction with a longer period moving average.
Download
Download the “force_index.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Period, MA method, Applied price, Volumes), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: oscillator
Installation
Copy and paste the force_index.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)