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The force index by Dr. Alexander Elder shows daily close-to-close changes
multiplied by the volume traded, so that moves on greater volume are given
more significance. The raw *change*volume* values are
smoothed slightly with a 2-day EMA (see Exponential Moving Average), so
the formula is simply

Force Index = EMA[2] of (volume * (close - prev close))

An increasing force index indicates strong interest in an upward move, when it falls back either price or volume or both have declined suggesting waning interest. Conversely for a negative and falling force index on the downside. The smoothing period for the EMA is configurable.

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