Elder Impulse System indicator
The Elder Impulse System(EIS) was developed and described by Alexander Elder in his books. It’s based on two popular indicators - an EMA (13) and a histogram MACD.
The EIS uses the Ema indicator for defines a short-term trend, while the MACD-Histogram measures momentum. As a result, the EIS serves as a good filter for choosing the moment to enter the market.
Signals: The green price bar indicates that the trend is bullish as both EMA and MACD values are rising. And, the red price bar indicates that the trend is bearish as both EMA and MACD values are falling. In case of multi directional movement, the price bar becomes gray.